Saturday, April 13, 2024

MAG GROUP HOLDING RECORDS OVER AED 12.6 BILLION SALES IN 2023

DUBAI, UAE, March 6, 2024 /PRNewswire/ — MAG Group Holding, the multinational conglomerate incorporating different companies across diverse sectors, announced the recording of AED 12.6 billion in sales for 2023 across its different real estate subsidiaries.

Moafaq Al Gaddah -Founder and Chairman of MAG Group Holding
Moafaq Al Gaddah -Founder and Chairman of MAG Group Holding

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.

Other real estate subsidiaries of MAG Group recorded AED 7.3 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.

In his comments, Moafaq Al Gaddah, Founder and Chairman of MAG Group Holding, 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.”

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