The developer has 8 UAE projects, including 6 in Abu Dhabi as well as two projects in Dubai.
MAG Development”, the real estate arm of the MAG Holding Group, has confirmed that all of its current and future projects and plans, will be in line with the UAE’s year of getting ready for the next 50 years plan in 2020.
Over the medium to long-term, investment in UAE real estate sector is likely to be a huge earning opportunity, in view of relatively strong US dollar and positive outlook of oil price.
The UAE property sector has got more strength after the government and the central bank announced various economic packages and incentives to mitigate the impact of Covid-19.
The COVID-19 pandemic has introduced unique market pressures and challenges across industrial sectors. In the context of the real estate industry in the UAE, the crisis interrupted a process of steadily building renewed growth.
Global shares stumbled on Friday as hopes of a fiscal boost from a $1.9 trillion US stimulus plan were smothered by the prospect of stricter lockdowns in France and Germany and a resurgence of COVID-19 cases in China.
The Italian government has approved a new stimulus package worth 32 billion euros ($38.8 billion) to prop up the battered economy, pushing this year’s budget deficit significantly higher than previously planned.
Pakistan and Bangladesh are rationing gas and buyers across South Asia are seeking alternative fuels after spot liquefied natural gas (LNG) prices surged to record highs, government and industry officials told Reuters.