Al Zorah Development Company has signed a land acquisition agreement with MAG Group Holding to develop a large-scale mixed-use waterfront project in Al Zorah City.
Major land deal signed
The deal involves a 261,180 square foot plot located in Al Zorah Marina 1, a key area known for its natural landscape and central location.
The project will feature approximately two million square feet of built-up area, including residential units, serviced and branded residences, retail spaces, office buildings, and a hotel.
Focus on premium living
The agreement was formalized by George Saad, CEO of Al Zorah Development Company, and Moafaq A. Al Gaddah, Founder and Chairman of MAG Group Holding.
Senior executives from both sides, including Salim Fleifel and Sarhad Haffar, were also present.
George Saad said: “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.”
Strategic collaboration
Commenting on the partnership, Moafaq A. Al Gaddah stated: “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.”
Both companies aim to combine luxury and sustainability in the upcoming development, promising to integrate modern design with environmentally responsible construction practices.
tanvir@dubainewsweek.com
