MAG unveils its newest upscale skyscraper in Dubai's Business Bay, with an estimated worth of Dh2 billion.

Business Bay has just welcomed a lavish tower project valued at Dh2 billion, as MAG introduces its Keturah brand to this prominent high-rise district off Shaikh Zayed Road.

Prior to this venture, MAG had primarily pursued Keturah projects through residential homes and villas. However, this time, they are venturing into the vertical landscape of Business Bay, offering apartments ranging from 600 square feet to 2,200 square feet in size.

The central theme for this latest project revolves around the concept of 'bio-living,' emphasizing the incorporation of natural elements. Notably, the open floor plans of these dwellings do away with conventional corridors or hallways, providing a unique and unobstructed flow within each living space, including distinctive furnishings and fittings.

Talal Moafaq Al Gaddah, Senior Executive Vice-Chairman of MAG, highlighted, "The launch responds to the high demand generated by the previous two developments under the 'Keturah' brand – Keturah Reserve and Keturah Resort (located near Dubai Creek)."

The unveiling of property prices and sales is anticipated later this year, with completion scheduled for the third quarter of 2027.

Business Bay apartment prices have demonstrated a 15–25% increase between 2021 and 2022, depending on the specific tower's exclusivity. Current listings indicate that two-bedroom units have averaged Dh1.9 million in transaction prices over the past three months, with monthly rents averaging Dh145,000 (according to data from Property Finder).

An estate agent noted, "Business Bay and Dubai Marina continue to maintain their appeal despite the multitude of off-plan launches in emerging upscale areas of Dubai. MAG has secured a prime location for Keturah in Business Bay, and it will be interesting to see the premium they attach to the sales."

In addition to MAG's project, Business Bay has witnessed a flurry of off-plan launches, with Ginco Properties recently introducing VYB, offering affordability to end-user consumers with prices starting at Dh1.2 million. This project is on track for completion in September 2025.

"As with Dubai Marina, Business Bay offers a range of price points depending on the specific tower," the agent added. "Business Bay has attracted a significant influx of new investors into Dubai's property market."