MAG 550 is a six-storey residential complex located in Dubai South, Dubai. The community is considered to be one of the city’s best places to buy villas, townhouses, and apartments.
The complex is part of a larger development that consists of 13 medium-rise buildings that house 528 apartments. MAG 550 is located in the middle of the community and is surrounded by elegantly landscaped areas that were designed using a minimalist style. The project was developed by MAG Developer, an international construction company, in 2019.
Properties include studios and one- to three-bedroom apartments. Depending on the configuration, apartments have spacious living rooms, modern bathrooms, dining areas, equipped kitchens, and balconies. Floor-to-ceiling windows offer beautiful views of the community. Units also feature storage rooms, laundry rooms, and dressing rooms.
The complex provides a variety of upscale amenities and services, including:
Studios have a minimum size of 44 sq. m (475 sq. ft.), and one-bedroom apartments have a minimum size of 61 sq. m (660 sq. ft.).
One-bedroom apartments have a starting price of AED 516,000 (USD 140,000).
*The price is valid for 2021
MAG 550 is located at the intersection of Emirates Road and Expo Road, which provides residents with easy access to other parts of the emirate. The Expo 2020 International Exhibition Complex can be reached within a 15-minute drive of the residences.
At the moment, public transportation is very limited in Dubai South. Residents have access to taxi services, such as Careem and Uber. The nearest Metro stations, Danube, Energy, Ibn Battuta, and Nakheel Harbour & Tower, are situated within a 30- to 40-minute drive.
Residents can choose from a selection of local restaurants and cafes, such as Pulcinella Restaurant, Certo Italian Restaurant, and AbdEl Wahab. For groceries and household goods, residents can shop at Al Maya Supermarket – Marina Branch, Waitrose, Spring Green Park Supermarket, and All Day Fresh, which are located within a 20- 30-minute drive of the apartments.
The complex is situated within a short drive of several popular destinations, including:
The average annual rental rate for a one-bedroom apartment in MAG 550 starts at AED 28,000 (USD 8,000). One-bedroom apartments are the most in-demand units. Properties have an annual return on investment rate of approximately 5.9%.
*The price is valid for 2021
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