Business & Money | Sunday 10 November, 2019 11:27 am |

MAG Development, the real estate development arm of the MAG Holding Group, has announced the launch of its innovative ‘MAG YES PLAN’, offering an unprecedented package of facilities and affordable payment plans that allow customers to own their customised homes, that suit their purchase power and monthly income.

The programme, which is the first all-inclusive payment packages of all possible fees in addition to exclusive benefits offered to MAG YES PLAN clients, includes three flexible plans to become a homeowner, MAG ZERO PLAN  one of the 3 customised plans allow clients  to buy the property without a down payment and without a final payment of delivery, with full exemption from registration fees.

Through this programme, which offers the chance to buy an apartment in just 15 minutes,” MAG Development” provides direct debit payments from the customer's bank account to facilitate the process of paying. They also provide other options for the customer to pay fixed, daily, weekly, monthly or quarterly payments, without the need of any bank facilities.

“The new payment packages ” were designed depending on an in-depth and specialised study by “MAG Development” of the real estate market in the UAE. Studies conducted by several companies indicate that the renting revenue of any residential property in the UAE equals its value in about ten years.

To begin with, the programme covers MAG City project exclusively. It is a fully Gated residential complex comprising of two, three and four-bedroom luxury homes, as well as, one-bedroom apartments and fully furnished studios, in Mohammed Bin Rashid City, Al Meydan District 7.

Under the terms of the new payment package, there are three plans with different payments options and benefits, all the plants are offering all-inclusive monthly payments including all possible fees where the client will not pay any other amounts during the package duration. The packages include unseal benefits such as Etihad Guest miles, Mag loyalty program, career protection program, Life insurance and many other benefits depends  on the selected plan

“MAG Development” has launched a comprehensive and unprecedented flexible payment plan for the first time in its history. It is carefully designed to give the customer the opportunity to pay for the housing unit in equal instalments. It is not subject to change throughout the payment period which spans from 5 years to 24 years,” said Talal Moafaq Al Gaddah, Senior Executive Vice Chairman of MAG Development.

“According to the terms of each payment plan, customers will be able to own a townhouse or an apartment without registration fees, no down payment or final payment on handover. This program confirms our great interest in meeting the requirements of the market and enables anyone with a fixed monthly income to be able to become a landlord without the need of large payments and without hidden fees”, he added.

"The new easy payment plans are designed to provide a greater level of flexibility for our customers and reflect our firm commitment to enhance the home-seeking buyers' experience within MAG's development projects that cater to different segments of the community," Al Gaddah said.

He pointed out that most of  the property buyers  have difficulty in paying the initial payment, so MAG Development’s innovative program exempts them from the down payment, in addition to that, the client will have the options to pay fixed regular instalments which will allow anyone with a fixed income to be able to become a homeowner.  MAG YES PLAN packages are designed to be inclusive of all possible fees with additional exclusive benefits such as “MAG Loyalty " program membership, which gives the buyer discounts in 480 restaurants, shops, cafes and hotels in Dubai. There is also the benefits of life insurance and insurance on job loss.

“MAG Development “continues to innovate marketing ideas for customers that provide support to both the individual and family in planning for financial stability in the long term.

The company is also working hard to meet the demand in all real estate segments, ranging from affordable housing projects up to luxury communities and master developments. MAG development provides effective solutions to the real estate market in Dubai that keep pace with market changes and make the best use of the facilities provided by the Government of Dubai, as well as, the impact of Expo 2020 on the local real estate market.