MAG Group to invest up to AED15B in Dubai by 2020

Moafaq Al Gaddah, Chairman of MAG Group , Dubai-based multinational, unveiled his own vision of how the conglomerate was investing up to AED 15 billion in the future of Dubai and the wider UAE, especially in the build-up to Expo 2020 at a corporate event recently.

MAG Group has already announced and has projects under implementation, worth AED 5 billion, including the AED 2 billion multi-phase project, located in the Meydan district, comprising 106 townhouses and a residential community spread across 29 five-storey apartment buildings, a AED 750 million residential project in Sharjah, the AEDc700 million Art Centre in Barsha, the 865 million City of Arabia residential project, the AED 500 million MAG residential tower in the Burj Khalifah area, the AED 100 million MAG Logistics plant in Jebel Ali and the AED 180 million MAG 226 residential tower in Jumeirah Village.

“Dubai has always been an attractive investment proposition for local, regional, and international investors. Now that the city has won the right to host Expo 2020 it has galvanised investment sentiment and I am sure that we are not the only company feeling the current wave of overwhelming business optimism,” said Moafaq Al Gaddah, Chairman, MAG Group.