5% Price Rise

Word from MAG PDD is that prices of remaining units were increased by 5% post Cityscape Dubai (see details). This is normal practice, as such events are used to push sales by offering pre-launch or other promotions. Beyond this the developer expects further price rises to be warranted within the coming months.

Why? Perhaps developers are pushing to the edge of what they feel the market can bear. If the market were strictly Dubai then one might conclude that buyers are in no position to bear further increases in prices as they have been hit by extreme cost of living rises over the past few years. The market, however, is of a global nature where developers can target buyers specifically from those regions with higher prices.

In the case of the MAG 218, as fewer units remain unsold, it is logical that the developer will attempt to raise prices on the remaining stock. All of the 330 1-bedroom units are said to have been sold.

So, what are current prices? The developer prefers to respond to individual inquiries than release a price list. The price chart prepared here in July 2006 may serve as a general indicator of prices. The listed value will need to be marked up by 5%, or more, should additional price rises take effect.


MAG PDD GM Mohammed Nimer (left) and this site's author, Bruce Dauphin at Cityscape Dubai. (6-Dec-2006)