MAG Group Holding, a Dubai-based multinational conglomerate incorporating different companies across diverse sectors including the real estate and hospitality, has delivered solid results for FY 2023, posting sales of AED12.6 billion ($3.4 billion) across its different real estate subsidiaries.

 

Sales at the innovative Keturah brand, founded last year, reached AED 2.5 billion at the Keturah Reserve development in Meydan. 

 

In contrast, sales at ‘The Ritz-Carlton Residences, Dubai, Creekside,’ part of the Keturah Resort, recorded AED 2.8 billion. Additionally, 70% of Keturah Resort has been sold, said MAG Group Holding in its statement.

 

Other real estate subsidiaries of MAG Group recorded AED7.3 billion in sales for real estate developments across the UAE, which includes MAG Lifestyle Development, Invest Group Overseas (IGO), MBL, Shoumous, Art of Living Mall in addition to plots and warehouses, it added.

 

On the solid performance, Founder and Chairman Moafaq Al Gaddah said: "Last year was a successful year for us at MAG Group with project sales across different subsidiaries recording impressive figures. This reiterates the vitality of the UAE’s real estate sector, given the wise leadership’s strategic vision and the countless initiatives that all aim to cement the emirate’s position as one of the best cities to work, live and visit."

 

"We are proud to contribute to the government’s mandate and will continue attracting investors to our unique developments," he added.-TradeArabia News Service