MAG awards $762mln contract for Ritz-Carlton Residences

MAG awards $762mln contract for Ritz-Carlton Residences

MAG, one of the leading real estate developers in the UAE, has awarded a AED2.8 billion ($762 million) contract to Cecep Techand Middle East for the construction of ‘The Ritz-Carlton Residences, Dubai, Creekside’ part of the Keturah Resort, which combines luxury and wellness.

The construction value of the project is valued at AED 2.8 billion, with its completion slated for Q4 2027.

The Ritz-Carlton Residences, Dubai, Creekside comprises 249 residences across seven buildings and 12 mansions, each featuring exclusive yacht parking for residents.

Keturah Resort offers homeowners an impressive range of world-class facilities, including a seven-star wellness center, a five-star hotel, a private members-only club, a women’s club, a kids club, a holistically immersive wellness centre, Michelin-star restaurants as well as a 550-m promenade and sustainable and organic-focused retail spaces.

It will also boast a 24/7 private parking with valet, and a gated community with unique views of the wildlife sanctuary, Burj Khalifa, Dubai Creek Harbor and Meydan.

On the new contract, CEO Talal Moafaq Al Gaddah said: "We are pleased with the signing of the LoI for the main construction works for Keturah Resort, a project that embodies the highest standards of ultra-luxury experiences coupled with regional-first unique wellness features."

"This project promises to redefine