Majid Developments to Revolutionize Dubai’s Landscape with Dh500 Million Investment in Five New Projects

Tuesday, 17 September 2024

Majid Developments, a leading real estate development company, is making a significant entry into Dubai’s booming real estate market with a planned investment of Dh500 million across five new projects by 2025. This move comes as the company seeks to capitalize on the rising demand for residential units in the city.

Key Highlights:

• • First Project Launch: The developer has already launched its inaugural project, Mayfair Gardens, in the highly sought-after Jumeirah Garden City. This marks the beginning of their expansion into Dubai’s real estate sector.
  • Future Projects:
    • Two additional projects are slate for launch in Jumeirah Garden City.
    • Following these, Majid Developments plans to expand into the fast-growing communities of Jumeirah Village Circle (JVC) and Arjan.
  • Market Demand:
    • The demand for property in Dubai is soaring, driven by investors from regions such as India, Pakistan, Afghanistan, Turkey, and Europe.
    • Mansoor Majid, CEO of Majid Developments, highlighted the shortfall in supply due to high demand, emphasizing the company’s commitment to launching at least 20 more projects in Dubai before expanding to other emirates.

• Sales Success:
  • Impressively, 40% of the Mayfair Gardens project  sold before its official launch.
  • The completion of Mayfair Gardens is schedule for June 2026, with plans to introduce Mayfair 2 and Mayfair 3 in the same area.
• Unit Offerings: Units in Mayfair Gardens will include 1-bedroom and studio apartments, with prices starting at Dh875,000.
• Funding: Majid Developments, which already has a presence in Afghanistan and Turkey, will fully fund the Dubai projects using internal resources.
• Strategic Growth:
  • According to Mustafa Majid, COO of Majid Developments, the Dubai real estate market has experienced rapid growth over the past three years, prompting the company to establish a strong presence in the city.
  • The company plans to utilize its current land bank and acquire additional plots in Dubai’s most desirable neighborhoods for future developments.