MAG Property Development

MAG Property Development (also known as MAG Lifestyle Development) is the real estate arm of MAG Group Holding, a UAE-based multinational conglomerate founded in 1978 by Moafaq Al Gaddah. Led today by Talal Moafaq Al Gaddah as CEO, MAG is one of the UAE’s most established developers with a USD 5 billion+ portfolio, 14+ completed projects, and a growing international presence. MAG is best known for pioneering wellness-integrated luxury real estate under its Keturah brand.

MAG Group was founded in 1978 by Moafaq Al Gaddah, making it one of the oldest and most experienced property groups in the UAE with over 45 years of history. The real estate development arm — originally MAG Property Development, later rebranded as MAG Lifestyle Development — was formally established in 2003. Talal Moafaq Al Gaddah, the founder’s son, joined in 2012 and became CEO, introducing the Keturah wellness brand in 2022.

MAG’s most iconic project is Keturah Resort — The Ritz-Carlton Residences, Dubai Creekside. This AED 2.8 billion ultra-luxury development on Dubai Creek is the first project in the MENA region to pursue WELL Health-Safety Rating certification. It features 177 residences and 12 exclusive mansions with yacht parking, 180-degree views of the Dubai skyline and Ras Al Khor Wildlife Sanctuary, Michelin-star restaurants, and a private wellness members’ club.

Keturah is MAG’s luxury wellness real estate and hospitality brand, launched in 2022 by Talal Moafaq Al Gaddah. The brand introduced two industry firsts to the Middle East: the WELL Health-Safety Rating (Keturah Resort) and the ‘Bio Living’ concept (Keturah Reserve). Bio Living is rooted in biophilic design — integrating nature, natural materials, and evidence-based wellness principles into architecture and interiors to enhance residents’ physical, mental, and emotional health. Keturah is now expanding globally with a project in Switzerland.

MAG develops across a broad range of Dubai communities including Mohammed Bin Rashid City (MBR City), Meydan, Dubai Creekside (Al Jaddaf), Jumeirah Lakes Towers (JLT), Business Bay, Dubai Marina, Dubai South, and Dubailand. The developer also has a presence in DIFC with the Ritz-Carlton Residences, DIFC project. Beyond Dubai, MAG has expanded into Abu Dhabi (MAG 5 Residence) and internationally into Switzerland.

MAG covers the full residential spectrum. Affordable and mid-market options include studio to two-bedroom apartments in MAG 5 Boulevard (from AED 648,000) and MAG City townhouses. Premium offerings include MBL Royal in JLT and MAG 22 in Meydan. At the ultra-luxury end, Keturah Resort mansions are priced up to AED 200 million, while Keturah Reserve offers bio-living townhouses from AED 8.7 million and villas from AED 14 million.

MAG is a multiple award winner at the International Property Awards — Africa and Arabia. Keturah Reserve alone earned eight awards at the 2023 International Property Awards for its innovative Bio Living concept. The Keturah Resort was also recognised for its WELL Health-Safety Rating certification, the first such recognition in the MENA region. MAG’s projects have received consistent regional and global recognition for design innovation, sustainability, and wellness integration.

MAG recorded AED 7.3 billion in cumulative real estate sales by mid-2024. Key contributors included AED 2.8 billion from Keturah Resort (The Ritz-Carlton Residences, Creekside), AED 2.5 billion from Keturah Reserve in MBR City, AED 1.7 billion from MAG City, and AED 735 million from MBL Royal in JLT — which sold out in just 120 days. MAG 22, a boutique townhouse project, also sold out completely.

MAG is widely considered a strong investment for several reasons: 45+ years of operating history, a USD 5B+ proven portfolio, and a first-mover advantage in wellness-integrated real estate — one of the fastest-growing segments of Dubai’s luxury market. Keturah-branded projects command premium pricing and strong demand from health-conscious, high-net-worth buyers. Dubai’s average rental yields of 6–8% are further supported by MAG’s strategic locations in MBR City, JLT, and Dubai Creekside.

MAG offers flexible payment structures depending on the project. Common plans include 10/30/20/40 (10% booking, 30% during construction, 20% on handover, 40% post-handover) and 15/35/50 for premium projects. DIFC Ritz-Carlton Residences are available on a 10/50/40 plan. MAG 5 Boulevard and more affordable developments have been offered with down payments as low as 10–15%, making entry accessible for a wide range of investors.

MAG’s key upcoming projects include the Ritz-Carlton Residences, DIFC (launching from AED 9.3M, Q1 2026 handover), Keturah Reserve villas and townhouses in MBR City (ongoing phased delivery through 2026), MAG 330 in Dubailand (Q4 2025), MAG 777 in Dubai Sports City (Q4 2025), and further phases of MAG Central Parks in MBR City. Internationally, Stabio Garden Living by Keturah in Switzerland is targeting 2026 completion.

MAG, DAMAC, and Emaar each occupy distinct market positions. Emaar is Dubai’s largest master developer, known for iconic mega-communities and publicly listed scale. DAMAC is the leader in ultra-luxury branded residences through celebrity partnerships (Cavalli, Trump, Mercedes-Benz). MAG differentiates itself as the UAE’s pioneer in wellness-integrated luxury real estate — the only developer to have introduced both WELL-certified and Bio Living concepts to the region. MAG’s Keturah brand appeals to a growing segment of health-conscious, lifestyle-driven ultra-high-net-worth buyers.