Latest news with #MAGGroupHolding
ME Construction
a day ago
- Business
- ME Construction
MAG Group Holding launches Riviera Heights in Marsa Zayed
Property MAG Group Holding launches Riviera Heights in Marsa Zayed By The development will serve as a southern gateway to Jordan's most renowned attractions, including the UNESCO World Heritage Site Petra and the Wadi Rum Protected Area MAG Group Holding has unveiled Riviera Heights, its first luxury residential development in Marsa Zayed, Jordan's largest mixed-use beachfront community. The project marks the beginning of a larger plan to transform a 320ha section of Jordan's Red Sea coast into an international tourism and residential destination. In February, the landowner AD Ports Group appointed Dubai-based MAG Group Holding to develop Marsa Zayed. The development will serve as a southern gateway to Jordan's most renowned attractions, including the UNESCO World Heritage Site Petra and the Wadi Rum Protected Area. Riviera Heights, a vibrant and contemporary waterfront community, serves as the foundation for Marsa Zayed's vision. It blends homes, cultural offerings, and a lively social scene, making it a significant milestone for Aqaba. Riviera Heights will be built on the southern edge of the Marsa Zayed development area. It will comprise four 35-storey buildings with over 1,250 seafront apartments. Site work is currently underway and the construction of Riviera Heights is expected to be completed by Q1 2028. MAG Group Holding is committed to delivering quality, design, and lifestyle focused experiences to its investors, the statement noted. Moafaq A. Al Gaddah, Founder and Chairman of MAG Group Holding said, 'Riviera Heights captures the true essence of Jordan its warmth, heritage, and culture. We are breathing new life and economic vitality into Aqaba by creating vibrant spaces that foster genuine connection to its extraordinary Red Sea coastline. Together with AD Ports Group, our vision is to cultivate a destination with wide appeal to a wide range of discriminating travellers, where everyone feels a true sense of belonging.' Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group added, 'We welcome the launch of Riviera Heights, which marks the official beginning of construction in Marsa Zayed, the Red Sea's newest and most exciting tourism and residential development. Under the wise guidance of our leadership in the UAE, AD Ports Group and MAG Group Holding are making a strategic investment in Jordan's economy that will bring long-term jobs and economic growth to a region defined by its unique natural coastal beauty.' Marsa Zayed, Jordan's flagship tourism venture stands as one of the Middle East's most ambitious real estate development projects. Located next to the Phase 1 development of Marsa Zayed, Riviera Heights will extend 1.2km along the Red Sea beachfront. This development will feature a marina, a hotel, hotel apartments with a beach club, an Old Souq marketplace with 50 retail shops, a yacht club, and a visitor's centre. Marsa Zayed will also showcase the restored minaret of the Al-Sharif Al-Hussein Bin Ali Mosque, an architectural feature in Aqaba, aims to attract regional and international homeowners and investors.
Zawya
3 days ago
- Business
- Zawya
MAG Group unveils debut residential project in Jordan
UAE - MAG Group Holding, a leading Dubai real estate developer, has launched its first luxury residential project - Riviera Heights - within Jordan's largest mixed-use beach front community Marsa Zayed. Riviera Heights is the first project in a plan to transform a 320-hectare section of Jordan's Red Sea coast into an international tourism and residential destination. Land owner AD Ports Group in February appointed Dubai-based MAG Group Holding to develop Marsa Zayed, which will open a southern gateway to Jordan's main attractions, the Unesco World Heritage Site Petra and Wadi Rum Protected Area. Riviera Heights will consist of four, 35-storey luxury apartment buildings, spread over 51,000 sq m, located on the southern edge of the Marsa Zayed development area. The development will include more than 1,250 seafront apartments. On the new project, Founder and Chairman Moafaq A. Al Gaddah said: "Riviera Heights captures the true essence of Jordan - its warmth, heritage, and culture. We are breathing a new life and economic vitality into Aqaba by creating vibrant spaces that foster genuine connection to its extraordinary Red Sea coastline." "Together with AD Ports Group, our vision is to cultivate a destination with wide appeal to a wide range of discriminating travellers, where everyone feels a true sense of belonging," he stated. Marsa Zayed is Jordan's flagship tourism venture and ranks among the Middle East's most ambitious real estate development projects. Riviera Heights will be built next to the Phase 1 development of Marsa Zayed, which will eventually span 1.2 km of Red Sea beachfront, and include a marina, a hotel, hotel apartments with a beach club, an Old Souq marketplace with 50 retail shops, a yacht club, and a visitor's centre. Giving a project update, MAG Group said site works are currently underway, and the project is due for handover by Q1 2028. AD Ports Group Managing Director and CEO Captain Mohamed Juma Al Shamisi said: "We welcome the launch of Riviera Heights, which marks the official beginning of construction in Marsa Zayed, the Red Sea's newest and most exciting tourism and residential development." "Under the wise guidance of our leadership in the UAE, AD Ports Group and MAG Group Holding are making a strategic investment in Jordan's economy that will bring long-term jobs and economic growth to a region defined by its unique natural coastal beauty," he stated. According to him, Riviera Heights lays the foundation for Marsa Zayed's vision of a vibrant, contemporary waterfront community. By combining distinctive homes, rich cultural offerings, and a lively social scene in one exceptional setting, it marks a significant milestone for Aqaba, he added. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
3 days ago
- Business
- Trade Arabia
MAG Group unveils debut residential project in Jordan
MAG Group Holding, a leading Dubai real estate developer, has launched its first luxury residential project - Riviera Heights - within Jordan's largest mixed-use beach front community Marsa Zayed. Riviera Heights is the first project in a plan to transform a 320-hectare section of Jordan's Red Sea coast into an international tourism and residential destination. Land owner AD Ports Group in February appointed Dubai-based MAG Group Holding to develop Marsa Zayed, which will open a southern gateway to Jordan's main attractions, the Unesco World Heritage Site Petra and Wadi Rum Protected Area. Riviera Heights will consist of four, 35-storey luxury apartment buildings, spread over 51,000 sq m, located on the southern edge of the Marsa Zayed development area. The development will include more than 1,250 seafront apartments. On the new project, Founder and Chairman Moafaq A. Al Gaddah said: "Riviera Heights captures the true essence of Jordan - its warmth, heritage, and culture. We are breathing a new life and economic vitality into Aqaba by creating vibrant spaces that foster genuine connection to its extraordinary Red Sea coastline." "Together with AD Ports Group, our vision is to cultivate a destination with wide appeal to a wide range of discriminating travellers, where everyone feels a true sense of belonging," he stated. Marsa Zayed is Jordan's flagship tourism venture and ranks among the Middle East's most ambitious real estate development projects. Riviera Heights will be built next to the Phase 1 development of Marsa Zayed, which will eventually span 1.2 km of Red Sea beachfront, and include a marina, a hotel, hotel apartments with a beach club, an Old Souq marketplace with 50 retail shops, a yacht club, and a visitor's centre. Giving a project update, MAG Group said site works are currently underway, and the project is due for handover by Q1 2028. AD Ports Group Managing Director and CEO Captain Mohamed Juma Al Shamisi said: "We welcome the launch of Riviera Heights, which marks the official beginning of construction in Marsa Zayed, the Red Sea's newest and most exciting tourism and residential development." "Under the wise guidance of our leadership in the UAE, AD Ports Group and MAG Group Holding are making a strategic investment in Jordan's economy that will bring long-term jobs and economic growth to a region defined by its unique natural coastal beauty," he stated. According to him, Riviera Heights lays the foundation for Marsa Zayed's vision of a vibrant, contemporary waterfront community.
Al Bawaba
4 days ago
- Business
- Al Bawaba
MAG Group Holding Launches Riviera Heights, First Phase of Jordan's Marsa Zayed Red Sea Beachfront Community
MAG Group Holding, the diversified, multinational real estate development company, officially launched Riviera Heights, the highly anticipated first luxury residential development in Marsa Zayed, Jordan's largest mixed-use beach front community. Riviera Heights is the first project in a plan to transform a 320-hectare section of Jordan's Red Sea coast into an international tourism and residential destination. Land owner AD Ports Group in February appointed Dubai-based MAG Group Holding to develop Marsa Zayed, which will open a southern gateway to Jordan's main attractions, the UNESCO World Heritage Site Petra and Wadi Rum Protected Heights will consist of four, 35-story luxury apartment buildings, spread over 51,000 m2, located on the southern edge of the Marsa Zayed development area. The development will include more than 1,250 seafront A. Al Gaddah, Founder and Chairman of MAG Group Holding, said: 'Riviera Heights captures the true essence of Jordan—its warmth, heritage, and culture. We are breathing new life and economic vitality into Aqaba by creating vibrant spaces that foster genuine connection to its extraordinary Red Sea coastline. Together with AD Ports Group, our vision is to cultivate a destination with wide appeal to a wide range of discriminating travellers, where everyone feels a true sense of belonging.'Site works are now underway, and the handover completion of Riviera Heights construction is expected by Q1 2028. MAG Group Holding is committed to delivering the highest standards of quality, design, and lifestyle-focused experiences to investors, supported by tailored payment plans and dedicated property Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said: 'We welcome the launch of Riviera Heights, which marks the official beginning of construction in Marsa Zayed, the Red Sea's newest and most exciting tourism and residential development. Under the wise guidance of our leadership in the UAE, AD Ports Group and MAG Group Holding are making a strategic investment in Jordan's economy that will bring long-term jobs and economic growth to a region defined by its unique natural coastal beauty.'Riviera Heights lays the foundation for Marsa Zayed's vision of a vibrant, contemporary waterfront community. By combining distinctive homes, rich cultural offerings, and a lively social scene in one exceptional setting, it marks a significant milestone for Zayed is Jordan's flagship tourism venture and ranks among the Middle East's most ambitious real estate development projects. Riviera Heights will be built next to the Phase 1 development of Marsa Zayed, which will eventually span 1.2 km of Red Sea beachfront, and include a marina, a hotel, hotel apartments with a beach club, an Old Souq marketplace with 50 retail shops, a yacht club, and a visitor's centre. Marsa Zayed will also count among its attractions the restored minaret of the Al-Sharif Al-Hussein Bin Ali Mosque, the most prominent architectural feature in Aqaba. Marsa Zayed is strategically positioned to attract regional and international homeowners and investors.
Web Release
28-05-2025
- Business
- Web Release
MAG GROUP and Citic Limited Sign MoU for USD 6 Billion 'Keturah Ardh' Development in Dubai
In a landmark move poised to significantly shape Dubai's luxury real estate landscape, MAG Group and CITIC Limited, one of China's largest state-owned conglomerates, have announced the signing of a Memorandum of Understanding (MoU) for the development of Keturah Ardh — a visionary USD 6 billion project spanning 18.47 million square feet in the Al Rowaiyah First District of Dubai. The signing ceremony brought together two financial powerhouses: MAG Group Holding, with a portfolio valued at USD 3 billion, ongoing sales worth USD 5 billion, and developments estimated at approximately USD 17 billion; and CITIC Limited, which manages total assets exceeding USD 1.67 trillion. This collaboration, marking CITIC Limited's first major entry into Dubai's premium real estate sector. The development timeline outlines the completion of infrastructure works and full site mobilisation by Q2 and Q3 2025. The first phase, launched under the Keturah Ardh Couture Art brand, will debut in Q4 2025. The second phase is expected in Q1 2026, with subsequent phases rolled out through to 2027. The project is expected to be completed within a two- to seven-year timeframe. Plot sizes within the development will range from 50,000 to 200,000 square feet, and the site will feature more than 100,000 trees—aging between 20 and 2,200 years—brought together through an innovative 'Life-Scaping' approach. In his comments, Moafaq A. Al Gaddah, Founder and Chairman of MAG Group Holding, said: 'Keturah Ardh exemplifies what the future of living in Dubai should look like. Our aim is to create a place where people feel deeply connected to their surroundings, with nature and community embedded into daily life.' Yang Jianqiang, Chairman of CITIC Limited, said: 'Our partnership with MAG Group Holding is built on a strategy of long-term value and genuine collaboration. By leveraging CITIC Limited's wealth of expertise in advanced manufacturing, innovative materials, sustainable infrastructure, and real estate, we want to shape a destination that welcomes all generations and sets new benchmarks for sustainability in the region.' In line with international environmental standards, the project is actively pursuing prestigious certifications such as LEED ND and the WELL Building Standard—underscoring Dubai's commitment to sustainable and future-ready developments.
