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MAG 5 Property Development (MAG 5 PD) has appointed Fujairah National Construction Company (FNC) as the main contractor for MAG 5 Boulevard in Dubai South. With a construction value estimated at Dh700 million, MAG 5 Boulevard will comprise 1,172 residential units complemented by retail, dining, leisure and entertainment amenities.
Handover for phase one of the development is scheduled for the fourth quarter of 2018.
“We are delighted to announce FNC as the main contractor for MAG 5 Boulevard, our first mid-income housing community in the UAE offering exceptional residential living with prices starting from Dh380,555,” said Talal Moafaq Al Gaddah, CEO of MAG 5 PD. “[It is] strategically located within Dubai South’s residential area of The Village, adjacent to the World Expo 2020 site and Dubai Parks. With the whole area being developed in anticipation of this international event, completing this project within two years was an important requirement of the project tender.
Source: Property Weekly