05 January 2024, ZAWYA
MAG, a leading real estate developer in the UAE, has purchased a new plot in Downtown Dubai for AED350 million ($95.2 million) as part of plans to develop a new luxury residential project within its premium real estate and hospitality concept, Keturah.
The Keturah brand has demonstrated its appeal since its announcement, following the successes of Keturah Reserve and Keturah Resort, said a top official.
“This validates the dynamism of Dubai’s real estate sector and the heightened demand for strategic plots to cater to the influx of investors and buyers. We are thrilled to acquire this plot to create another distinctive development under the Keturah brand, strategically positioned in one of the emirate’s best locations, Dubai Downtown,” remarked Senior Executive Vice Chairman Talal Moafaq Al Gaddah.
Keturah Reserve is a AED3 billion ($816 million) luxury residential project located in Meydan offering transformational living through the design of space. A premium residential complex, construction began on the project in late 2022.
It will boast 114 four-bedroom townhouses, 10 five-bedroom townhouses, 467 apartments ranging from one to four bedrooms, and 69 plots of land on which signature villas can be constructed. Completion of the construction work is expected in the first half of 2025.
On the Keturah Resort, the official said nestled along tranquil creek waters, it stands as a beacon of luxury, health, and serenity. The project offers only 12 opulent creekside waterfront mansions and rare creekside residences.
“The vision and long-term strategy of the emirate’s leadership encourages us to keep building and launching innovative projects that add value to residents in a city that never fails to amaze and exceed expectations,” stated Al Gaddah.
Work on the Keturah Downtown will be completed in Q4 2027, he added.