Dubai real estate company expands into Ticino for multi-million project
- 30 Jan 2024 9:50 pm CET
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One of the leading real estate companies in the United Arab Emirates is expanding into Switzerland for its first international project. Dubai-based real estate developer MAG plans to build a luxury residential complex with 14 buildings in Stabio TI for 185 million Swiss francs.
The Minergie development with 180 apartments includes a fitness area, a children's playground and a co-working space, as MAG announced on Tuesday. The project called Stabio Garden Living by Keturah is being developed in collaboration with the Ticino-based A++ Group. Completion is planned for 2026.
The project in Stabio is the first international project for the luxury real estate developer from the Gulf state. Stabio is located on the border with Italy. The promoters are expecting great potential in the town due to the increase in cross-border commuters and the growth of companies. Stabio is around 20 minutes by car from Lugano and an hour from the metropolis of Milan (I).
The new project in Switzerland follows the launch of "The Ritz-Carlton Residences, Dubai, Creekside", which is part of the Keturah Resort, the luxury residential building Keturah Reserve and the emerging urban residential complex Keturah Downtown. All are located in the urban area of the Emirate of Dubai.
The collaboration with the Ticino-based partner company will produce "remarkable results and innovative solutions" that will "elevate the lifestyle of residents and redefine the real estate sector worldwide", according to the MAG press release.