1. NEWSUPDATE
34 Gulf Property
MAG unveils Dh11bn
worth of projects
MAG unveils Dh11bn
worth of projects
One of MAG Group’s new
project being marketed

2. NEWSUPDATE
Gulf Property 35
addition to its four projects
delivered so far with 1,300
units.
“The projects will undergo
designing stage during the
first quarter while deliveries
are scheduled in three to four
years,” Mohammed Nimer,
MAG Group Chief Executive
Officer, told Gulf Property.
“We have so far delivered
1,300 units in four projects
with a combined value of
Dh3 billion.”
MAG is a diversified busi-
ness conglomerate owned
by Arab expatriate business-
man Moafaq Al Gaddah, who
made a fortune from auto
spare parts and accessories
trade in Dubai and Sharjah.
Despite the global financial
crisis that affected Dubai’s
real estate market in 2008-
10 and exposed many devel-
opers who had to fold
businesses and disappear
from the market with piles of
debt, MAG Group had con-
tinued to deliver its projects
amid challenging economic
environment.
“Obviously, we had to slow
down like the rest of the de-
velopers till the dust settled
and then delivered our prom-
ises to the customers,” Nimer
explains. “However, now that
the market is back, we have
also launched these projects
to meet the growing demand
for quality housing.”
MAG Group has already
projects under implementa-
tion worth Dh5 billion, includ-
ing the Dh2 billion
multi-phase project, located
in the Meydan district, com-
prising 106 townhouses and
a residential community
spread across 29 five-storey
apartment buildings, a
Dh750 million residential
project in Sharjah, the Dh700
million Art Centre in Barsha,
the Dh865 million City of Ara-
bia residential project, a
Dh500 million MAG residen-
tial tower in the Burj Khalifa
area, the Dh100 million MAG
D
ubai-based real es-
tate developer MAG
Property Develop-
ment, part of the
Moafaq Al Gaddah
(MAG) Group, has rolled out
six projects worth Dh11 bil-
lion (US$3 billion), part of its
Dh15 billion planned devel-
opments announced earlier
this year, a top official told
Gulf Property recently.
Once completed, the six
projects would deliver 2,300
units – mostly residential – in
Mohammed Nimer, Chief
Executive Officer of Moaffaq
Al Gaddah (MAG) Group
Gulf Property
Exclusive
‘We have so far
delivered 1,300 units
in four projects with a
combined value of
Dh3 billion...’
– Mohammed Nimer,
CEO, MAG Group

3. earlier reported an annual
turnover of more than Dh
800 million, and a market
presence in more than 90
countries and a forecast for
further expansion in 2014.
MAG Royal Solutions also
created a Guinness World
Record in 2013 for the
largest automated parking
facility in the world, at a cost
of Dh80 million and situated
in Emirates Financial Tow-
ers, DIFC.
Coming back to the current
market situation, Mohammed
Nimer said, the supply in the
market would be higher than
the demand till the middle of
the next year. “Later, we ex-
pect the demand to pick up –
that’s when our projects will
also take off to meet the de-
mand,” he explains of the
timing of the launch of these
projects.
The first two of MAG Prop-
erty Development’s new proj-
ects are being designed by
Chicago-based Skidmore,
Owings and Merrill LLP
(SOM) - one of the world’s
largest and most influential
architecture and interior de-
sign consultancies that has
completed more than 10,000
projects in over 50-plus
countries.
SOM designed and super-
vised some of the world’s
tallest towers including Burj
Khalifa in Dubai, Sears (Now
Willis) Tower in Chicago.
SOM will be lending its
renowned expertise to the
NEWSUPDATE
36 Gulf Property
MAG 210 getting ready at
Dubai Marina – one of many
properties being developed
by MAG Group
Dh11 billion
worth of new projects have
been announced by MAG
Dh3 billion
value of the properties
delivered by MAG Group
1,300
units have been delivered by
MAG Group so far
2,300
new residential units are
being developed by MAG
Group in six projects
At A Glance
Logistics plant in Jebel Ali
and the Dh180 million MAG
226 residential tower in
Jumeirah Village.
In a statement, Moafaq Al
Gaddah, Chairman of MAG
Group said earlier, “We are
studying to buy land for addi-
tional projects which could
be worth up to Dh10 billion in
Dubailand, Jebel Ali and Abu
Dhabi, which will be an-
nounced in the coming
months."
MAG Group’s trading arm

4. NEWSUPDATE
Gulf Property 37
enced
e x p l o -
sive growth
causing a spill of
people into its territory.
Located about 25 minutes
north of Dallas, Frisco has
become a comfortable home
for professionals who work in
the Dallas-Fort Worth Metro-
plex. The Gate is conve-
niently located adjacent to
other Frisco neighbourhoods
and is expected to be big
drawer for sports fans, with
the new training grounds of
the Dallas Cowboys nearby.
The final two projects of
this year are MAG 230 and
MAG 226. MAG 230 is a
prestigious residential land-
mark in the City of Arabia
and home to the much talked
about Mall of Arabia. The de-
velopment’s distinctive L-
shape main structure houses
unique features and offers
high-
c l a s s
l i v i n g
s t a n d a r d s .
The sixth project,
MAG 226, is a prestigious
residential property standing
tall as a landmark in
Jumeirah Village Circle and
meticulously designed in
both its internal and external
architecture to reflect the re-
quirements of luxury living.
Nimer said, the recent soft
landing of the freehold sale is
good for the industry. “It re-
flects that the market has
matured and investors are
making sensible choices,” he
said. “Buyers are looking at
finished projects developed
by credible developers whom
they can trust.”
MAG Group’s most re-
cently completed project in-
cludes Polo Residence,
which is located in the heart
of Meydan City. The gated
community of 29 four-storey
buildings blends the bucolic
with the urban, siting modern
buildings among trees and
1,160,000 square feet of
meadows.
MAG Property Develop-
ment’s renowned completed
projects include Emirates Fi-
nancial Towers (EFT), a 27-
storey commercial twin tower
development located in the
heart of the Dubai Interna-
tional Financial Centre.
EFT has made its mark on
the Dubai landscape with its
contemporary elliptical pro-
file, glass facade and sky-
bridge. The two towers also
boast the world’s largest au-
tomated parking facility, as
verified by the Guinness
Book of Records, which was
developed by MAG Royal
Solutions, another division of
MAG Group.
MAG Property Develop-
ment is the real estate devel-
opment arm of Moafaq Al
Gaddah Group, one of the
region’s largest corporate
entities. The group encom-
passes more than 50 compa-
nies with activities spanning
numerous sectors, including
commercial, real estate,
service, industrial and phar-
maceutical.
The company focuses on
projects that deliver long-
term benefits to investors
and customers and has a
current real estate project
portfolio in excess of Dh11
billion ($3 billion). g
development of two proper-
ties, MAG 1978 and MAG
Luxury. MAG 1978, located
in Business Bay will be
MAG’s Headquarters and will
include 218 ‘holiday home
apartments’ while MAG Lux-
ury situated in Burj Khalifa
District will comprise of 62
apartments and lavish facili-
ties.
Paying attention to the cul-
tural and traditional wealth of
the emirates, MAG Property
Development’s third project
to be launched this year is
the Estate at Al Furjan. Sited
in close proximity to Jebel Ali
Port, Al Maktoum Airport,
Knowledge Village, and In-
ternet/Media City, The Estate
fuses elegant, enduring de-
signs that are contemporary
but pay homage to Dubai’s
rich heritage.
Talal Al Gaddah, CEO of
MAG Property Development,
said, “MAG Property Devel-
opment is spearheading
MAG Group’s ambition to be
at the forefront of the region’s
real estate industry. It is
achieving this through its
commitment to the group’s
corporate philosophy of inno-
vation and continuous im-
provement.”
Another MAG Group proj-
ect sees its successful ex-
pansion into the U.S. market
with The Gate located in
Frisco, Texas. With a total in-
vestment of $750 million,
The Gate features 17 build-
ings and seven villas spread
across a vast area.
Its four and five-story resi-
dential building are suited to
the urban living requirements
of professionals and young
families, with its 10-storey
buildings offering more luxu-
rious apartments. At street
level, there are numerous
possibilities for shopping and
leisure, with many shops and
restaurants on the ground
floor. Frisco is one of the
fastest growing U.S. cities
whose fame began in the
late 1990s, when the north-
ern suburbs of Dallas experi-
“The recent soft landing is good for the industry.
It reflects that the market has matured and
investors are making sensible choices. Buyers
are looking at finished projects developed by
credible developers whom they can trust...”
– Mohammed Nimer
Dh15 bnDh15 bnworth of projects are being
developed by MAG Group
worth of projects are being
developed by MAG Group

5. NEWSUPDATE
38 Gulf Property
IGOmakesambitious
forayintoUSmarket
I
nvest Group Overseas
(IGO) has done what
few real estate compa-
nies from the region, let
alone the UAE, has
done. IGO, a subsidiary of
the Moafaq Al Gaddah
(MAG) Group, has invested
in a grand mix-used project in
the American city of Frisco in
Texas state.
With a total investment of
US$750 million (Dh2.75 bil-
lion), ‘The Gate’ features 17
buildings and seven villas
spread across a vast area of
40.95 acres. Like multiple
other developers, IGO too
made it a point that their
unique project gets the atten-
tion of investors at Cityscape
Global, Dubai held in Sep-
tember this year.
Headquartered in Dubai,
IGO was formed in 2004
through a joint undertaking of
current chairman of MAG
Group, Moafaq Al Gaddah
and Dr. Mohammed Anas
Kozbari – an experienced
and successful entrepreneur.
With this determined venture
into the US market, IGO has
proved that it is growing by
leaps and bounds and in fact
showing the way to other
Middle Eastern developers.
However, one wonders why
of all the places in the world,
IGO had to cross the seas to
build a project in the US.
“The market in the States
has evolved heavily,” Kozbari
says. “You remember the re-
cession that the US market
went through in 2008. Well
the market now is much
stronger,” he reiterates.
Okay understood. But
even if they did take the bold
decision to camp in the US,
By Indrajit Sen
Senior Reporter IGOmakesambitious
forayintoUSmarket

6. NEWSUPDATE
Gulf Property 39
why did they not invest in the
global metropolises like New
York City or Los Angeles?
“When it comes to the
state of Texas, you can say
that at the state as well as
the local level, they were
able to avoid the hardships
of the recession and that
paid off. Now you see, the
economy of the state of
Texas has been able to bring
in a lot of different companies
from all over the US to head-
quarter and conduct busi-
nesses,” Kozbari states.
How ‘The Gate’
will help Frisco
The Gate is a master-
planned, mix-used develop-
ment, located in the
Dallas-Fort Worth metropoli-
tan area that will cap the
booming economic develop-
Maher Maso, Mayor of
Frisco, Texas, USA,
speaking to Gulf Property
Dr. Anas Kozbari,
Managing Partner &CEO of
Invest Group Overseas
ment in Frisco. True to its
name, The Gate is con-
ceived to be a gateway, a
socio-economic catalyst for
the 6.3 million and growing
population of the metro area,
with a refreshing live, work
and enjoy environment.
When completed, the proj-
ect will host 1.21 million
square feet of prime resi-
dences; 854,000 square feet
office spaces; 54,000 square
feet of retail spaces; 47,500
square feet of cafes and
restaurants and a boutique
hotel. The Gate sits at a
strategic spot straddling
John Hickman Road and the
Dallas North Tollway, the
30.2 miles toll road that con-
nects Frisco to downtown
Dallas.
“In Frisco we have a vi-
sion,” said Mayor of Frisco
Maher Maso, who had trav-
elled all the way from the US
to Dubai, to attend the
launch of the project at
Cityscape Global.
“In the next 20-25 years
we will be double the size of
what we are. Texas is busi-
ness-friendly, without too
many government regula-
tions. There are opportuni-
ties for companies that are
good at what they do. Frisco
today is the second fastest
growing city in the US.”
IGO has gone about de-
veloping this project all by it-
self, without a partner;
although Kozbari says they
had been approached by
many a firm who wanted to
be part of this unique project
in the US. However, Kozbari
says that investing in such a
grand project in the US, will
not divert them away from
the Dubai market, which is
their base.
“Dubai is something we
emphasise on very much.
There are a lot of invest-
ments here in Dubai,” he as-
serts.
“And The Gate is just one
of the projects we are devel-
oping outside the UAE.”
What’s so great
about Frisco &
The Gate?
Frisco may be unheard of,
unknown to most other non-
Americans. But with the
growth of the city’s popula-
tion, the economy is also
strengthening with new busi-
nesses camping there. The
city continues to grow along
with the state of Texas which
hosts 52 of the 500 Fortune
500 companies. Even the
state’s taxation structure is
considered the best in the
US and its public education
system regarded as one of
the best in the nation.
Frisco, besides develop-
ing on the financial front is
also a hub of sports in the
Dallas-Fort Worth metropoli-
tan area. For instance,
famed American football
team the Dallas Cowboys is
moving its world headquar-
ters to Frisco. The city is also
home to many other football,
hockey, baseball and gym-
nastics teams; and due to
the heavy youth populace
the city enjoys every kind of
sport played in America.
What is notable is the fact
that the city offers a global
feel as it hosts sizeable In-
dian and Middle Eastern
communities. Mayor Maso
even draws a parallel saying,
“Frisco is very similar to
Dubai, which is a very suc-
cessful city. It’s a very suc-
cessful community, obviously
much bigger than Frisco and
growing rapidly. We have
things to learn from each
other and also things to im-
prove the development
process.” g
‘In the next 20-25
years we will be
double the size of
what we are. Texas is
business-friendly,
without too many
regulations. There are
opportunities for
companies that are
good at what they
do...’
– Maher Maso