MAG’s commitment to quality real estate

MAG Group has come a long way since its initial dealings in car parts. It entered the real estate development market five years ago and can now boast 10 ongoing projects in the UAE. CW speaks to MAG’s general manager, Mohammed Nimer, about the firm’s commitment to quality.

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By  Colin Foreman Published  July 23, 2005

MAG’s commitment to quality real estate|~|Nimer-body.jpg|~||~|What are the origins of the MAG Group? The company was originally founded in the UAE in 1978, dealing in car parts, batteries and tyres. Since then, it has expanded to cover three main sectors, namely residential, commercial and industrial. In the last four to five years, the MAG Group has entered the real estate development market and we now have 10 ongoing projects at various stages of development. What are the projects that you are currently developing? The three developments that have already been launched are MAG 214 in Jumeirah Lake Towers, which is a 40-storey development; and MAG 218 in Dubai Marina, which is 66 storeys high. The last one to have been launched was the new twin- tower development located at Dubai International Finance Centre (DIFC). We have already started construction on MAG 214 and we aim to hand it over to buyers by March 2007. We have also finished the concept design of MAG 218 and we are currently working on the detailed design of this latest development. What other projects does the MAG Group have in the development pipeline? We have one tower planned for Dubailand that will be situated in I&M Galadari’s City of Arabia. This will be the group’s fourth tower. For number five, we have a tower in Sharjah that will also be a residential tower called MAG 224. We also have one piece of development land at the Palm Jebel Ali on the crescent called MAG 222, which will be a building consisting of 17 floors. How do you differentiate your company from the host of other developers that are all competing in the Dubai marketplace? Our mission can really be summed up in just two words — commitment and quality. There are essentially two types of buyer in the market today: One of them wants to buy to invest, they will want to pay the minimum amount and so their first question will be ‘how much?’ The second kind of investor will want to look at the drawings, ask about the detailing, ask about the specifications — and these are our targets. We want to sell to people who know what they are buying, because this is how we can sell to them. It doesn’t matter what I show the first group of people; they will still remain focused solely on the price. How do you deliver that in practice? It is like buying a suit. When you buy a suit, you look at who the designer is. Buying an apartment is the same. But so many people that are buying apartments are not engineers. You can show them a plan that shows a 3.5 m x 3.0 m, and maybe it will mean nothing to them. But if it says 3.5 m x 3.0 m and it is a bedroom, it means that when you try to squeeze your double bed into the room you won’t be able to. That is why we don’t have any rooms that are smaller than 4 m x 4 m. ||**||

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