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News in brief

01 October 2020

Jumeirah opens landmark serviced residences in Dubai Marina

Jumeirah Group, the global luxury hospitality company and a member of Dubai Holding, has announced the opening of Jumeirah Living Marina Gate, new lifestyle serviced residences in the heart of Dubai Marina.

The landmark development caters to demand for extended stays and serviced living options, says the Jumeirah Group.

The third and final tower to be opened within the Select Group’s flagship Marina Gate development, the new property offers 508 branded residences comprising 104 serviced apartments and 389 private residences, including an executive penthouse, and 15 villas that are available for sale.

Located close to key transportation links including the Dubai Metro, Dubai Tram, water taxis and walkways, Jumeirah Living Marina Gate is well connected to the city and just a short walk from exceptional dining, entertainment, sporting and wellness attractions in one of the emirate’s most captivating locations, it states.

It also boasts an array of lifestyle services onsite, provided by Jumeirah Group, which are recognised for taking serviced residences to a new level by providing a unique personalised living experience that combines the luxury of a five-star hotel with the privacy and comfort of home, it adds.

Jumeirah Living Marina Gate is part of The Residences at Marina Gate, a premium, waterfront development with a gross development value of over $1 billion.

Hugely popular with the residents of Dubai Marina due to its exceptional fitness amenities, extensive retail offerings and direct access to Marina Walk, the first tower in the development was handed over in 2018 followed by the second last year.

MAG Development project work moving at ‘full speed’

MAG Development, the real estate development arm of MAG Holding Group, has announced that all its construction works are moving “at full speed” despite some disruption due to the repercussions of the Covid-19 pandemic.

Dubai will remain the region’s best destination for real estate investments after Covid-19, states MAG Development CEO Talal Moafaq Al Gaddah.

“Around 95 per cent of our investments will be concentrated in Dubai, as we have great confidence in the future of investment in the emirate’s real estate sector,” he adds.

The Dubai developer points out that demand for Dubai real estate continues to keep pace with customers’ desires, and that the crisis has shown profound transformation in the real estate developments. The crisis has stimulated real estate developers to provide various price cuts and unprecedented facilities, which has encouraged Emirati citizens to turn out strongly to become the main driver of demand for local real estate deals due to attractive prices.

The CEO cites the example of its townhouse offers during July in partnership with W Capital, which got sold out within 24 hours of launch.

He points out that MAG Development projects are proceeding on schedule, and not affected by the repercussions of the crisis. The board of directors determined to complete all projects and continue work in spite of some delay due to the crisis.

MAG City project was recently launched in Al Maidan District 7 at Mohammed Bin Rashid City in Dubai.

Majid Al Futtaim’s premium Dubai homes ‘sold out in 48 hours’

Majid Al Futtaim, a leading mall developer and leisure pioneer in the region, has announced the successful sell-out of the homes in the third phase of the Elan neighbourhood at its flagship Dubai community, Tilal Al Ghaf.

The latest release of 322 homes were snapped up by buyers within just 48 hours, building on the emphatic success of the first and second phases that was sold out within seven days, it says.

With infrastructure work under way and handover expected in December 2022, the community is fast becoming one of Dubai’s most sought-after destinations with more than 900 units now sold.

The volume of interest and pace of investment are testament to Majid Al Futtaim’s strategy of listening and responding to modern buyers’ and investors’ needs to deliver highly sought-after destinations and unique environments, says the Dubai developer.

Tilal Al Ghaf’s Elan comprises three- and four-bedroom homes nestled around a recreational lagoon and white sandy beaches. The community features a selection of signature Majid Al Futtaim retail options and a world-renowned school situated within open green spaces, walkable neighbourhoods lined with Ghaf tree trails, 18 km of cycling and jogging trails, and nature-inspired outdoor amenities.

Majid Al Futtaim Communities CEO Hawazen Esber says: “Tilal Al Ghaf’s bold vision and ambitious promise towards the Dubai and GCC market have been rewarded by an enthusiastic response to Elan, which reiterates the purpose of the entire community - a healthy, socially fulfilling lifestyle that gives people a sense of belonging — and a place where a generation of families can create great memories for a lifetime.”

“Our focus is firmly placed on offering quality destinations that respond and specifically cater to the needs of modern communities and residents. Our philosophy of placemaking is built on our deep understanding of what homeowners and tenants want.”