MAG Development launches 'MAG YES PLAN'
MAG Development, the real estate development arm of the MAG Holding Group, has announced the launch of its 'MAG YES PLAN', which offers customers affordable payment plans that allow them to own their customised homes.
The programme, which is the first all-inclusive payment packages of all possible fees in addition to exclusive benefits offered to MAG YES PLAN clients, includes three flexible plans to become a homeowner. The MAG ZERO PLAN is one of the three customised plans to allow clients to buy the property without a down payment and without a final payment of delivery, with full exemption from registration fees.
Through this programme, which offers the chance to buy an apartment in just 15 minutes, MAG Development provides direct debit payments from the customer's bank account to facilitate the process of paying. They also provide other options for the customer to pay fixed, daily, weekly, monthly or quarterly payments, without the need of any bank facilities. The new payment packages were designed depending on an in-depth and specialised study on the real estate market in the UAE. Studies conducted by several companies indicate that the renting revenue of any residential property in the UAE equals its value in about 10 years.
To begin with, the programme covers MAG City project exclusively. Under the terms of the new payment package, there are three plans with different payments options and benefits, all the plants are offering all-inclusive monthly payments including all possible fees where the client will not pay any other amounts during the package duration. The packages include unseal benefits such as Etihad Guest miles, Mag loyalty program, career protection program, and life insurance.
"MAG Development has launched a comprehensive and unprecedented flexible payment plan for the first time in its history. It is carefully designed to give the customer the opportunity to pay for the housing unit in equal installments. It is not subject to change throughout the payment period which spans from five years to 24 years," said Talal Moafaq Al Gaddah, senior executive vice chairman of MAG Development. "According to the terms of each payment plan, customers will be able to own a townhouse or an apartment without registration fees, no down payment or final payment on handover. This program confirms our great interest in meeting the requirements of the market and enables anyone with a fixed monthly income to be able to become a landlord without the need of large payments and without hidden fees."