Mag eye apartments dubai mbr city

MAG EYE. A dream home well within your reach

Introducing MAG EYE. An exclusive residential community featuring a stunning array of townhouses and apartments in the heart of the iconic Mohammed bin Rashid City in Meydan Dubai. MAG EYE opens a door to a sophisticated urban lifestyle that is tailored to modern-day preferences and amenities, while ensuring each of these unique living spaces are both practical and affordable. MAG EYE is thoughtfully designed to reflect the progressive evolution of one of the most iconic cities in the world. Living in MAG EYE is owning a spectacular viewing point of the new face of Dubai.

All Townhouses at MAG EYE feature contemporary design, adorned with elegant interiors, thoughtthrough ventilation system and all the comforts and amenities one needs to create a refined way of life. When you come home to MAG EYE Townhouses, be certain that you are stepping into a tranquil setting away from the chaos of the city life.

Choose your apartment at MAG EYE

Questions and answers

ABOUT MAG EYE

MAG EYE is an upcoming residential community master plan that will feature a stunning array of townhousesand apartment buildings in the heart of the iconic Mohammed Bin Rashid City in Meydan District 7, Dubai. Theproject is located within a 10-minute drive of District One, MBR City.

The development offers studios, 1 & 2 bedroom apartments, and 3 & 4 bedroom townhouses that all incorporatecontemporary design, elegant interiors and spacious layouts. The project also provides a range of amenities
to accommodate for the residents’ lifestyles, from jogging tracks and clubhouse facilities to the nursery andchildren’s playgrounds.

Living in MAG EYE means gaining from all the advantages of a modern urban lifestyle. Be it by spending anafternoon at the clubhouse and relaxing by the swimming pool, maintaining a healthy lifestyle by making themost of the cycling and jogging tracks, praying at the mosque, taking the family to enjoy the retail experiencesand vast central park, or attending to your health at the healthcare clinic. MAG EYE aims not only to provideaffordable housing, but also to promote your wellbeing and accommodate all your recreational needs.

The architectural language of the MAG EYE development is thoughtfully designed to reflect the progressiveevolution of one of the most iconic cities in the world.

Living in MAG EYE means owning a spectacular private viewing point of the new face of Dubai.

WHO IS THE DEVELOPER?

MAG Lifestyle Development. The real estate development arm of MAG Group – one of the region’s largestcorporate entities – MAG LD is an industry leader that offers everything from high-end luxury developmentsto pioneering affordable housing proposals.

WHAT IS MOHAMMED BIN RASHID CITY?

Mohammed Bin Rashid City is a master development that focuses on five major components: sustainability,entrepreneurship, art, retail and theme parks. It is one of the most significant land developments in the history ofDubai and is the single largest area dedicated to the development of various types of real estate projects in theEmirate.

Mohammed Bin Rashid City is set to become the luxury residential destination rivalled by no other. Every aspectof the development has been planned meticulously around green open spaces, retail and entertainment,ensuring the ultimate urban lifestyle. Its masterful design and proximity to city hubs like Downtown Dubai,Business Bay and the iconic Burj Khalifa make this development truly extraordinary.

WHAT ARE THE AMENITIES?

Secure gated community
Over 1,200,000 sq. ft. of landscaped gardens, seating areas, children’s playgrounds, floral gardens, jogging and cycling tracks, and walking routes
A running track surrounding the development
Clubhouse amenities: an olympic-sized swimming pool with swimming lanes, a wet deck lounge areas and a children’s pool, plus a 15,000 sq. ft. state-of-the-art gym. Total plot area of 84,400 sq. ft.
A mosque, retail facilities, a nursery, cafes, seating areas and fountains. Total plot areas of 90,000 sq. ft.

What are the Payment Plans for SLS Residences The Palm Dubai?

Purchasing a branded residence in the project will enable you to follow a 60/40 payment plan from the developer, with a down payment of 10%.

WHAT ARE THE FINISHES IN THE PUBLIC SPACES (MINIMUM SPECIFICATION)?

Entrance Lobby and Corridors:
Marble floors, stone painted and feature timber walls, painted gypsum ceilings

Landscaping:
Paving and planted areas, outdoor furniture, swimming pool with wet deck lounge areas and swimming lanes,children’s area

WHAT ARE THE FINISHES IN THE UNITS (MINIMUM SPECIFICATION)?

Kitchens:
Blanco white floor tiles, painted walls and false gypsum ceiling. Built-in kitchen cabinets with artificial whitemarble worktop and splashback and sink with mixer tap. LG freestanding appliances including a range,extractor, fridge freezer, washing machine and microwave.

Bathrooms:
Black porcelain floor tiles, white porcelain wall tiles, painted gypsum ceiling. Built-in marble vanity top with sinkand mixer tap. Bathtub and/or shower with glass partition.

Living Areas & Bedrooms:
Blanco white floor tiles, painted walls and gypsum ceilings. Built-in wardrobes in all units.

Doors & Windows:
Timber doors with veneer finish and full height Schuco glazed windows

Light Fixtures:
Down-lights and cove lighting; private wireless LAN, basic light and AC control, all of which are smart homeappliances which can be controlled via a smart phone application.

Payments

WHAT IS THE PAYMENT POLICY FOR THE PROJECT?

Purchasers are advised to make all their payments as per the payment plan schedule provided in the SPA withoutawaiting any reminder from MAG and without any set-off or deduction. Delayed or non-payment of instalments

would result in penalties and/or other course of action in accordance with the SPA and Dubai Property Laws.

WHAT IS THE PAYMENT PLAN OF THE PROJECT?

The payment plan for the Project is:

Apartments – 35% during construction and 65% on completion (breakdown of 35% is as per thepayment schedule attached to the SPA)

Villas – 65% during construction and 35% on completion (breakdown of the 65% is as per the paymentschedule attached to the SPA)

Service charges and any other administrative charges upon completion will be communicated throughthe Completion Notice.

The payment details are outlined in the SPA.

IN CASE OF DEFAULT OF PAYMENT BY THE PURCHASER, WHAT IS THE PROCESS?

MAG will provide thirty (30) days’ notice to the Purchaser to remedy the default, of which if Purchaser fails to doso, MAG reserves the right to take all necessary action to pursue the Purchaser for its default pursuant to theSPA and in accordance with the applicable laws.

Resale

WHAT IS THE PROCEDURE FOR RESALE?

For off-plan projects, the Purchaser and the incoming purchaser (new) need to contact MAG customer serviceto apply for a No Objection Certificate (NOC). The NOC is subject to fulfilling the payment obligations of thepurchaser under the SPA and any conditions laid down by MAG. The Purchaser is required to be up-to-datewith all its payment obligations on the date of applying the NOC.
The Purchaser is required to pay 30% of the Purchase Price in order for MAG to allow any resale and is subjectto NOC from MAG;
Appropriate administrative fees to process the NOC and SPA need to be paid to MAG, currently beingAED 5,000.
The Purchaser must collect an NOC from MAG and provide completed Transfer of Ownership Form and therequired documents of the incoming purchaser to process the transfer and arrange a new SPA to be issued infavour of the incoming purchaser.
All payments that are due on the date of application for NOC need to be settled before the NOC is issued inaccordance with the resale restrictions of MAG.
The transfer will be registered in MAG interim registry and then completed at the DLD subject to transfer feesbeing paid to the directly.
Once the resale is completed at the DLD, the incoming purchaser will have to provide a copy of the Initial SaleContract to MAG to update their records.
For completed properties, the parties should approach MAG to apply for the NOC, be up-to-date with allpayments due to MAG or the Owners Association before proceeding to the DLD for transfer of ownership.

MAG EYE. A dream home well within your reach

Choose your apartment at MAG EYE

Questions and answers

Payments

Resale

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