MAG Development sure thinks it’s doable, offering up to 20 year payment terms, with the per-day average at Dh120. This could yet set the new benchmark in payment plans direct from developers. Until now, the upper limit on such payment plans was 10- or 15-years.
The MAG campaign will extend to four of its key projects – MAG City, Meydan, the Al Furjan villas, and MPL Tower in Jumeirah Lakes Towers. Investments of up to Dh8 billion will be committed to build up these projects, MAG says.
“The new project, which is a special programme for affordable housing, and supports investors of all categories is based on the company’s vision that developers’ policies must change to meet market demands and keep pace with its development and growth rates, as well as the diversity of projects,” said Talal Mowaffaq Al Qaddah, CEO.