MAG Group to launch new mixed-use city near Silicon Oasis

MAG Group to launch AED 40-50 bn mixed-use city: Dubai-based developer MAG Holding Group is preparing to launch an 18 mn sqft integrated city near Dubai Silicon Oasis and Academic City, founder and chairman Muwaffaq Al Gaddah told Emarat Al Youm. The project — set to be MAG’s largest to date — will carry an estimated sales value of up to AED 50 bn and will include residential buildings, villas, townhouses, a school, a shopping mall, and other service facilities.

The timeline: MAG has secured approvals and will officially announce the project within three months, once final planning wraps up, Al Gaddah said.

The rationale: Al Gaddah pointed to strong demand across income segments — not just from high-net-worth buyers — and noted growing interest in integrated communities that combine residential, retail, and commercial components. End-user demand is being driven by Dubai’s perceived quality of life, infrastructure, and favorable business and regulatory environment.

Plus, there’s a big appeal for foreign buyers and relocating firms: Despite offering better services, higher returns, and lower taxes, prices in Dubai have not yet caught up with those seen in other top global cities, Al Gaddah said. He also pointed to an uptick in international firms relocating to Dubai, driving demand for both housing and office space, as well as high levels of investor confidence boosting capital inflows to the emirate.