In line with the trend of launching affordable housing, one developer has announced a new project with units starting from AED380,000 next to the Expo 2020 site.
In an emailed brochure to clients, MAG Property Development revealed plans to build ‘MAG 5 Boulevard’, an integrated residential community in Dubai World Central residential district, adjacent to the Expo 2020 venue.
The development will have 13 ground plus six-storey buildings, housing 1118 residential units. Prices for studio units start from AED380,000, one bed units from AED499,000 and two-bed apartments from AED799,000 and three bed units with private garden from AED1.399 million.
“Apartment prices start from AED6200 per month,” the brochure states, adding, buyers will be offered five year developer financing at zero per cent interest.
The project is slated for completion in 2018, the brochure states.