Latest news with #AlZorahDevelopment
Zawya
22-05-2025
- Business
- Zawya
Dubai's MAG Holding acquires plot for mixed-use project in Ajman's Al Zorah
Dubai-based MAG Group Holding has inked a land acquisition agreement with Al Zorah Development Company for a mixed-use waterfront development within the Al Zorah master development in the emirate of Ajman. The 261,180 square feet plot (sq. ft.), located within Al Zorah Marina 1, will comprise residential units, branded and serviced residences, office spaces, retail outlets, and a hotel with a total built-up area of approximately two million sq. ft, according to a press statement issued by Al Zorah development. The statement didn't disclose land cost, estimated project value or construction timelines. Al Zorah Development Company is a joint venture between the Government of Ajman and Solidere International. (Editing by Anoop Menon) (
Zawya
22-05-2025
- Business
- Zawya
Al Zorah Development Company ink land acquisition deal with MAG Group
UAE – Al Zorah Development Company, a joint venture between the Government of Ajman and Solidere International, has signed with MAG Group Holding, a multinational conglomerate with diversified interests across various sectors, a land acquisition to develop a premium mixed-use waterfront development in Al Zorah City., The agreement was signed by George Saad, CEO of Al Zorah Development Company and Moafaq A. Al Gaddah, Founder and Chairman of MAG Group Holding, in the presence of Salim Fleifel, CCO of Al Zorah Development Company and Sarhad Haffar, Regional Director of MAG Group Holding, Al Zorah, and other senior executives from both entities. The new development will span a prime 261,180 square foot plot in the heart of Al Zorah Marina 1, a location renowned for its pristine natural beauty and strategic location. With a built-up area of approximately two million square feet, the project is envisioned as a holistic mixed-use community featuring residential units, branded and serviced residences, office spaces, retail outlets, and a hotel. In this occasion George Saad commented " We are pleased to welcome MAG Group into Al Zorah City. MAG waterfront project will further enrich the range of products that we are offering to investors. This project reflects our dedication to creating sophisticated eco-living environments where innovative urban design and natural beauty coexist in harmony." In his comments, Moafaq A. Al Gaddah, said: "We are pleased to sign this agreement with Al Zorah, which perfectly aligns with our mandate to expand our portfolio through premium developments across strategic locations. This project reflects our ongoing commitment to creating exceptional living spaces that elevate the standard of urban living for residents and visitors alike." This strategic agreement reflects a shared vision between Al Zorah Development Company and MAG Group Holding to create communities that blend luxury, functionality, and environmental responsibility. The development will incorporate cutting-edge design concepts and sustainable building practices, setting a new benchmark for mixed-use developments in the region. More information on the project will be announced in due course.
