Dubai-based MAG Group Holding has inked a land acquisition agreement with Al Zorah Development Company for a mixed-use waterfront development within the Al Zorah master development in the emirate of Ajman.

The 261,180 square feet plot (sq. ft.), located within Al Zorah Marina 1, will comprise residential units, branded and serviced residences, office spaces, retail outlets, and a hotel with a total built-up area of approximately two million sq. ft, according to a press statement issued by Al Zorah development.

The statement didn't disclose land cost, estimated project value or construction timelines. 

Al Zorah Development Company is a joint venture between the Government of Ajman and Solidere International.

(Editing by Anoop Menon) ([email protected])

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