MAG Group Holding Records Over AED 12.6 Billion Sales in 2023
MAG Group Holding, the multinational conglomerate known for its diverse portfolio, has made headlines with its latest announcement of recording AED 12.6 billion in sales for 2023. This impressive figure was generated by the conglomerate’s various real estate subsidiaries, showcasing the success and growth of the business over the past year.
One of the standout performers for MAG Group Holding was the innovative Keturah brand, which saw sales reaching AED 2.5 billion at the Keturah Reserve development in Meydan. Additionally, ‘The Ritz-Carlton Residences, Dubai, Creekside,’ part of the Keturah Resort, recorded sales of AED 2.8 billion, highlighting the popularity and demand for luxury real estate in the region. Moreover, Keturah Resort itself has already sold 70% of its offerings, indicating strong investor interest.
Beyond the Keturah brand, other real estate subsidiaries under MAG Group Holding also contributed significantly to the total sales figure. With AED 7.3 billion in sales for various developments across the UAE, including projects by MAG Lifestyle Development, Invest Group Overseas (IGO), MBL, Shoumous, and Art of Living Mall, as well as plots and warehouses, the conglomerate has solidified its position as a key player in the real estate market.
Moafaq Al Gaddah, the Founder and Chairman of MAG Group Holding, expressed his satisfaction with the performance, stating, “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 aim to cement the emirate’s position as one of the best cities to work, live, and visit.”
The announcement of AED 12.6 billion in sales for 2023 reflects MAG Group Holding’s commitment to excellence and growth in the real estate sector. With a strong portfolio of successful developments and a positive outlook for the future, the conglomerate continues to attract investors to its unique and innovative projects, contributing to the overall progress and advancement of the industry.
