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.
The industry was hit twice because of the coronavirus, with export orders evaporating and then a shortage of workers caused by a national lockdown to stop the spread of the virus.
The benchmark Nikkei 225 index soared 405.65 points or 1.78 per cent to 23,249.61, the best close since February 21, the broader Topix index rose 18.62 points or 1.16 per cent to 1,624.15.
Brent crude was down 26 cents or 0.6% at $45.17 a barrel by 0647 GMT, after a gain of around 2% in the previous session. West Texas Intermediate oil also lost 0.6%, a 25 cent decline to $42.42 a barrel which followed a climb of 2.6% on Wednesday.