MAG Group Holding Records Over AED 12.6 Billion Sales in 2023 across Real Estate Subsidiaries
MAG Group Holding Achieves Record-Setting AED 12.6 Billion in Sales for 2023
DUBAI, UAE, March 6, 2024 /CNW/ — MAG Group Holding, the multinational conglomerate known for its diverse range of companies across various sectors, has announced an impressive milestone for the year 2023. The group recorded a remarkable AED 12.6 billion in sales across its different real estate subsidiaries.
One of the standout performers within the MAG Group Holding portfolio is the innovative Keturah brand, which was founded just last year. Sales at the Keturah Reserve development in Meydan reached a substantial AED 2.5 billion, while ‘The Ritz-Carlton Residences, Dubai, Creekside,’ part of the Keturah Resort, recorded a whopping AED 2.8 billion in sales. Notably, 70% of Keturah Resort has already been sold.
In addition to the success of the Keturah brand, other real estate subsidiaries of MAG Group also contributed significantly to the overall sales figure. Collectively, MAG Lifestyle Development, Invest Group Overseas (IGO), MBL, Shoumous, and Art of Living Mall, along with plots and warehouses, recorded AED 7.3 billion in sales for real estate developments across the UAE.
Moafaq Al Gaddah, the Founder and Chairman of MAG Group Holding, expressed his satisfaction with the achievements, 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 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.”
The record-breaking sales figures achieved by MAG Group Holding highlight the continued growth and success of the real estate sector in the UAE, underlining the country’s attractiveness to investors and developers alike.
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SOURCE: MAG Group Holding
