MAG Eye in MAG City - Dubai residental property project

Cap rates, sales prices, rents and deal volumes

Sales prices for off-plan (pre registration and delayed sell) properties in MAG Eye

Rooms	Size, sqm	Sale price, AED/sqm	Sale price, AED
Studio	38	18,389	700,213
1	70	18,603	1,300,000

Rents in MAG Eye

Rooms	Size, sqm	Rent, AED/sqm/ year	Rent, AED
Studio	39	1,256	49,000

The cap rate (rental yield) of investments into MAG Eye project is 6.8% on average.

The price of an apartment in MAG Eye is 18,439 AED/sqm on average.

Price for off-plan Studio apartment in MAG Eye is 700,213 AED or 18,389 AED/sqm.
Price for off-plan 1 bedroom apartment in MAG Eye is 1,300,000 AED or 18,603 AED/sqm.

Rent in MAG Eye is 18,603 AED/sqm/year on average for long term rent of an apartment.

Rent for Studio apartment in MAG Eye is 49,000 AED or 1,256 AED/sqm.

About MAG Eye

'MAG Eye' in 'MAG City' area project description

MAG Eye is a noteworthy residential development located in the heart of Mohammed Bin Rashid City—District 7 in Dubai. The project is a master-planned community under the MAG Lifestyle Development, part of the larger MAG Group, which has a reputation for delivering high-quality real estate products across the UAE. Designed to offer a balanced blend of modernity and tranquility, MAG Eye is an epitome of contemporary urban living catering to both families and professionals.

The community is characterized by sleek, minimalistic architecture with a focus on functional design and sustainability. It comprises a variety of housing options, including apartments and townhouses, tailored to meet diverse lifestyle needs. The apartments range from cozy studios to expansive three-bedroom units, equipped with top-notch amenities and smart home technologies. The townhouses, on the other hand, offer spacious three and four-bedroom layouts, each featuring private gardens and secure, covered parking spaces.

MAG Eye stands out for its well-thought-out infrastructure and abundant green spaces. Expansive parks, manicured gardens, and lush landscapes provide a serene environment, promoting a healthy lifestyle and fostering a sense of community among residents. The central park, jogging tracks, and cycling routes are perfect for outdoor activities, ensuring that residents have ample opportunities to lead an active lifestyle.

The community is designed to be self-sufficient with a range of amenities to cater to daily needs and leisure activities. Residents have access to state-of-the-art fitness centers, swimming pools, children’s play areas, and multipurpose halls. The development also includes retail options, cafes, and a nursery, ensuring that everything a family might need is within easy reach. Moreover, the security within the community is top-notch, featuring round-the-clock surveillance and controlled access points to ensure the safety of all residents.

Location-wise, MAG Eye is strategically positioned to offer easy access to key parts of Dubai. It is just a short drive away from Downtown Dubai, allowing residents to enjoy landmarks such as the Burj Khalifa and Dubai Mall without the hustle and bustle of city life. It is also conveniently connected to major highways, making commuting to other parts of the city and beyond relatively hassle-free.

In summary, MAG Eye is an exceptional residential enclave that promises a perfect blend of luxury, comfort, and convenience. With its modern design, comprehensive amenities, abundant green spaces, and prime location, it presents a compelling living option for those seeking quality urban living in Dubai.

Q&A on MAG Eye

What are the advantages of 'MAG Eye' project in Dubai for property buyers? What are the disadvantages?

Advantages:

1. Strategic Location: Situated in the MBR City District 7, MAG Eye offers easy access to major road networks like Sheikh Mohammed bin Zayed Road, providing convenient connectivity to key areas in Dubai, including Downtown Dubai, Business Bay, and Dubai International Airport.

2. Affordability: MAG Eye is known for offering competitive pricing in comparison to other high-end communities in Dubai, making it an attractive option for first-time buyers and investors seeking value for money.

3. Community Amenities: The project includes a variety of amenities such as retail shops, a community center, schools, lush green parks, swimming pools, and gyms, ensuring a well-rounded lifestyle for residents.

4. Modern Design: Properties in MAG Eye feature contemporary architecture and high-quality finishes, appealing to those looking for stylish and modern living spaces.

5. Investment Potential: Due to its strategic location and affordability, MAG Eye has good potential for capital appreciation and rental yields, making it a favorable option for investors.

6. Family-Friendly Environment: With ample green spaces, playgrounds, and schools, MAG Eye is ideal for families seeking a wholesome and secure living environment.

Disadvantages:

1. Construction Phase: Depending on the stage of the project, there may still be ongoing construction, which can result in noise and inconvenience until completion.

2. Traffic Congestion: As with many rapidly developing areas in Dubai, there can be periods of traffic congestion, particularly during peak hours, which might affect commute times.

3. Maturing Community: Unlike established neighborhoods, MAG Eye is still maturing, meaning some facilities and amenities might still be under development or not yet fully operational.

4. Wide Availability of Options: Dubai's real estate market is highly competitive with numerous projects offering similar advantages. This can dilute the exclusivity of MAG Eye and affect property values.

5. HOA Fees: The Homeowners Association fees in new developments can sometimes be higher to cover the maintenance of new amenities and infrastructure, adding to the ongoing costs for property owners.

6. Public Transportation: While the road connectivity is strong, the availability of public transportation options directly within the community might be limited, necessitating reliance on private vehicles.

Buying into the MAG Eye project comes with several compelling benefits, but it is important to weigh these against potential drawbacks based on personal preferences and long-term goals.

What projects are better than 'MAG Eye' project in Dubai which are located close by, and why?

Meydan One:

1. Location: Positioned within the larger Meydan district, it offers seamless access to Downtown Dubai and Al Khail Road, making commuting convenient.
2. Amenities: Boasts the upcoming Meydan One Mall, which is set to feature a massive indoor ski slope, a large dancing fountain, and a wide variety of retail and dining options.
3. Mixed-Use Development: Combines residential, commercial, and leisure elements, providing a holistic living experience.

District One (Mohammed Bin Rashid Al Maktoum City - MBR City):

1. Luxury Living: Features high-end villa communities and luxury apartments set amidst extensive green spaces and crystal lagoons.
2. Accessibility: Close proximity to business hubs, including Downtown Dubai, Business Bay, and DIFC.
3. Recreational Facilities: Includes a 7 km Crystal Lagoon, 14 km of boardwalk, and multiple leisure options, fostering an active and recreational lifestyle.

Sobha Hartland:

1. Premium Build Quality: Developed by Sobha Group, known for its meticulous attention to detail and superior construction standards.
2. Spacious Layouts: Offers larger living spaces and well-thought-out designs in both their apartments and villas.
3. Community Feel: Features lush parks, schools, and retail spaces, promoting a vibrant community lifestyle.

Waves by Sobha:

1. Innovative Design: Modern and striking waterfront residences designed with a blend of luxury and functionality.
2. Exclusive Waterfront Living: Positioned alongside Hartland’s waterfront, offering scenic views and a tranquil environment.
3. Smart Home Features: Equipped with state-of-the-art home automation technologies, ensuring contemporary living standards.

Creek Vistas Grande by Sobha:

1. Sweeping Views: Offers unparalleled views of the Dubai Creek and the city’s skyline.
2. High-Quality Finishes: Each apartment is crafted with the finest materials and superior finishings.
3. Integrated Amenities: Residents have access to a plethora of amenities including swimming pools, fitness centers, and landscaped gardens.

Royal Atlantis Residences (Palm Jumeirah):

1. Iconic Architecture: Designed by globally renowned architects, setting a new standard for luxury.
2. Exclusive Community: Located on the renowned Palm Jumeirah, offering a prestigious address and private beach access.
3. Lavish Amenities: Includes a sky pool, cutting-edge wellness centers, and an array of fine dining options curated by Michelin-starred chefs.

Each of these projects offers distinct advantages depending on preferences for lifestyle, design, location, and amenities, often surpassing what is available in the MAG Eye project in MAG City.

What are the closest schools to 'MAG Eye' project in Dubai?

- Gems Wellington Academy: Located in Silicon Oasis, it's approximately a 15-minute drive from MAG Eye.
- Repton School Dubai: Situated in Nad Al Sheba, around 10 minutes away by car.
- Indian International School: Found in Dubai Silicon Oasis, about 15 minutes from the MAG Eye project.
- Kings' School Nad Al Sheba: Located directly in Nad Al Sheba, roughly a 10-minute drive.
- Clarion School: Positioned in Al Quoz, about 15-20 minutes away by car.

What are the closest medical clinics to 'MAG Eye' project in Dubai?

- Mediclinic City Hospital: Dubai Healthcare City, Al Razi Building 64.
- Aster Clinic, Business Bay: Europe Business Center, Al Abraj Street, Business Bay.
- Amana Healthcare: International Humanitarian City Phase 2.
- Emirates Specialty Hospital: Dubai Healthcare City, Building 62, Al Razi Building.