MAG launches its latest luxury tower in Dubai Business Bay, valued at Dh2 billion

Business Bay has just welcomed a Dh2 billion luxury tower project, with MAG bringing its Keturah brand to the high-rise district off Shaikh Zayed Road.

Up until this point, MAG had been implementing Keturah projects via homes and villas. This time, it will resemble a high-rise in Business Bay, with apartments ranging in size from 600 square feet to 2,200 square feet.

The ‘bio-living’ idea, which is essentially bringing in natural elements, is what MAG is going with as the focal point for the most recent project. ‘Corridors or hallways to optimize circulation across the unit’ are not included in the dwellings’ open floor plans. Each space’s furnishings and fittings will be unique.

“The launch is in response to the high demand for the previous two developments under the ‘Keturah’ brand – Keturah Reserve and Keturah Resort (near Dubai Creek),” said Talal Moafaq Al Gaddah, Senior Executive Vice-Chairman of MAG.

The debut of the property prices and sales is planned for later this year, with completion scheduled for Q3 of 2027.

According to the degree of exclusivity of the tower they are in, Business Bay apartment prices have increased by 15–25% between 2021–2022 (depending on the exact figures). According to current listings, two-bedroom units there have had average transaction prices of Dh1.9 million over the past three months, while monthly rent has averaged Dh145,000 (figures from Property Finder).

“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

Business Bay has been busy with off-plan launches. Ginco Properties recently introduced the VYB there, making the area affordable for end-user consumers with prices beginning at Dh1.2 million. The project is on track to be finished in September 2025.

“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.”

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