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  • Founder: Moafaq AL Gaddah
  • Head Office: UAE, Dubai
  • Year of Establishment: 2003
  • Flagship Projects: MAG City، MAG Eye، Keturah Reserve

MAG Property Development

Introduction to MAG Property Development (MAG)

MAG Property Development is one of Dubai’s well-established private real estate developers, operating as the property development arm of MAG Group. The company focuses on residential, urban, and mixed-use developments and is recognized as a mid-range to semi-luxury developer with a sustainability-driven approach.

Company History and Structure

MAG Group was founded in 2003 by Moafaq Al Gaddah and operates across diverse sectors including real estate, industrial manufacturing, financial services, and healthcare. MAG Property Development was established as the group’s specialized real estate arm and, supported by the group’s strong financial and managerial backing, has built a solid presence in Dubai’s property market.

Development and Management Approach

MAG Property Development’s philosophy is centered on sustainable development, construction quality, and the creation of livable urban communities. Unlike purely sales-driven developers, MAG aims to deliver projects that balance functionality, pricing, and long-term quality. The company prioritizes lasting value and livability over exaggerated marketing.

Key and Recent MAG Projects:

  • MAG City – A large-scale residential development in MBR City focused on modern urban living

  • MAG Eye – A low-density, family-oriented residential project

  • MAG 5 Boulevard – An affordable to mid-range residential project in Dubai South

  • MAG Creek Wellbeing Resort – A health-focused development emphasizing sustainable lifestyle living

  • MAG 318 – A modern residential tower in Business Bay

MAG’s Position in Dubai’s Real Estate Market

MAG Property Development is a suitable choice for buyers seeking a balance between price, quality, and long-term livability. The company is positioned in the upper mid-range developer segment with a sustainability-oriented vision, making it more suitable for medium- to long-term investment and family living rather than the ultra-luxury segment or purely sales-driven projects.

FAQs

Can foreigners buy property in Dubai ?

Yes. Foreigners can own 100% of a property in designated areas of Dubai, known as Freehold Areas. This ownership is permanent, and they have the legal right to buy, sell, rent, and transfer the property title.

What is the process of buying property in Dubai ?

The process of buying property in Dubai is transparent and structured. First, a suitable property (ready or under construction) is selected. After agreeing with the seller or developer, the unit is reserved, and a down payment is made.

Next, a formal Sale and Purchase Agreement (SPA) is signed, and the property is registered with the Dubai Land Department (DLD). Finally, after completing the payments, the official property title is transferred to the buyer’s name.

Is it possible to buy property in Dubai on installments ?

Yes. Many projects in Dubai, especially off-plan projects, are offered with installment payment plans and long-term payment terms. These terms vary depending on the developer, project, and delivery time, and may include payments during construction or even after delivery.

What is the minimum property investment required to obtain Dubai residency ?

To obtain a two-year UAE residency visa through property purchase, the minimum property value must be AED 750,000. The property can be either ready or off-plan and must be registered in the applicant’s name.

What is the UAE Golden Residency Visa, and what are its benefits ?

The UAE Golden Residency Visa is a long-term visa valid for 5 or 10 years, with the possibility of renewal. Its key benefits include stable residency, the ability to sponsor family members, no requirement for a local sponsor, and greater freedom in travel as well as long-term life and investment planning.

How much investment is required to obtain the UAE Golden Residency Visa ?

To obtain the Golden Residency Visa through property purchase, the applicant must buy one or more properties with a total value of at least AED 2,000,000. These properties can be either ready or off-plan and must be registered in the applicant’s name.

Can a residency visa be obtained for family members through property purchase in Dubai ?

Yes. By purchasing property and obtaining Dubai residency, it is possible to get residency visas for your spouse and children. Under certain conditions, it is also possible to apply for residency for parents.

What is the property rental tax rate in Dubai ?

In Dubai, there is no tax on rental income and no personal income tax. For this reason, investing in Dubai’s property rental market is attractive to many international investors.

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