Dubai-based conglomerate MAG Group (Moafaq Ahmed Al Gaddah Group) is developing a mixed-use commercial and residential project in Texas, its only real estate project outside of the UAE - ArabianBusiness is reporting.
The Group has acquired some 80 acres of land in Frisco, Dallas, with the project currently in the design stage. MAG Group owner and chairman Moafaq Ahmed Al Gaddah said: “We have undertaken studies on the US market and one of the fastest growing cities there for the residential market is Dallas. It has lots of yearly residential growth. We saw a gap in the market and went for it.” (In February the mayor of Frisco, Dallas visited Dubai)
MAG Group is listed in the Middle East Investors Directory with the code SINMA13