Dubai: A Dh2 billion luxury tower project has just landed at Business Bay, with MAG taking its ‘Keturah’ brand to the high-rise hub off Shaikh Zayed Road.
Until now, MAG had been deploying Keturah projects by way of villas and mansions. This time, at Business Bay, it will take the form of a high-rise, with apartment spaces ranging from 600 square feet to 2,200 square feet.
MAG is going with the ‘bio-living’ concept - essentially bring in natural elements, where possible - as the high point for the latest project. The residences come with open plan spaces and without ‘corridors or hallways to optimize movement throughout the apartment’. The furniture and fixtures will be customised to each space.
“The launch is in response to the high demand for the previous two developments under ‘Keturah’ brand – Keturah Reserve and Keturah Resort (near Dubai Creek),” said Talal Moafaq Al Gaddah, Senior Executive Vice-Chairman of MAG.
Completion is set for Q3-2027, and the property prices and sales launch will be done later this year.
Business Bay apartment prices have risen by 15-25 per cent since 2021-22, depending on the degree or exclusivity of the tower they are in. Current listings show average transaction prices for a two-bedroom unit there at Dh1.9 million in the last 3 months, while rentals average Dh145,000 (according to Property Finder data).
"Business Bay and Dubai Marina continue to hold their own despite all the offplan launches in Dubai's emerging upscale locations," said an estate agent. "MAG's got a prominent location for the Keturah in Business Bay - it will be interesting to see what sort of premium they come up with for the sales."
Another launch at Business Bay
When it comes to offplan launches, Business Bay has been busy. Recently, Ginco Properties launched the VYB there, with prices starting Dh1.2 million and making the location accessible for end-user buyers. The project is lining up a September 2025 completion.
"As with Dubai Marina, Business Bay comes with multiple price points depending on the tower," the agent added. "Among the new investors in Dubai property, Business Bay has attracted a significant intake."
