MAG 5 Property Development, a joint venture between MAG Property Development and MBM Holding, has said that it has sold more than 80 per cent of the first phase of its MAG 5 Boulevard project within Dubai World Central’s residential district.
Phase two will be launched at Cityscape next month.
The Dh700 million project will eventually contain more than 1,000 residential units on an 800,000 square feet site.
The developer said it is targeting owner-occupiers rather than investors, and is offering five-year, zero-interest payment plans in a bid to attract them.
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