MAG Lifestyle Development Appoints Intermass Engineering & Contracting for Mag 318

Press release
Published October 29th, 2018 - 07:34 GMT
MAG 318 is a mixed-use luxury residential tower that features 439 residential units including studios and one and two-bedroom apartments with private balconies that overlook Dubai Water Canal and Downtown Dubai.
MAG 318 is a mixed-use luxury residential tower that features 439 residential units including studios and one and two-bedroom apartments with private balconies that overlook Dubai Water Canal and Downtown Dubai.

MAG Lifestyle Development (MAG LD), the development arm of MAG Group Holding, has appointed Intermass Engineering & Contracting LLC as the main contractor for its MAG 318 development in Business Bay for a value of AED 155 million. The new contractor will start working on the development after Dutch Foundation & Concrete Processing Co. has completed the projects’ shoring and piling works. The AED 550 million project is well on track for timely completion by Q2 2020 with over 75% of units having been sold.

Talal Moafaq Al Gaddah, CEO of MAG LD, commented: “We are pleased with the strong progress displayed at MAG 318. MAG LD emphasises resident satisfaction with every project, appointing the best contractors and working with premium partners to deliver upon our promise of a customer-centric approach that urges residents to expect more.”

MAG 318 is a mixed-use luxury residential tower that features 439 residential units including studios and one and two-bedroom apartments with private balconies that overlook Dubai Water Canal and Downtown Dubai. The development is only 250 metres from the new Dubai mall extension and 580 metres from the Dubai Fountain. To ensure an integrated living environment for residents, the project has been strengthened with modern facilities including a swimming pool, outdoor leisure facilities, a children's area, a social activities centre, a coffee shop and 18,000 square feet of retail space.

For commuters, MAG 318 offers convenient access to the metro station and Business Bay, one of Dubai’s most exciting and fastest-growing business destinations, while families will be a stone’s throw from some of the city’s best schools and medical facilities. In the heart of the city, MAG 318 residents will also be within easy reach of iconic Downtown Dubai attractions including the Burj Khalifa and the Dubai Mall, providing them with all that Dubai has to offer on their doorsteps.

Background Information

MAG Property Development

MAG Lifestyle Development is part of the Moafaq Ahmad Al Gaddah (MAG) Group – a multinational conglomerate based in the UAE. With a 40 year old legacy, MAG Group is one of the largest corporations in the region, maintaining a highly prominent position of leadership among its peers, across the real estate, contracting, engineering, industrial and commercial trading, freight services, and hospitality sectors. Today MAG Lifestyle Development’s interests range from pioneering affordable housing initiatives and high-end luxury developments to bringing wellness-focused living to the UAE.

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