It became recently known that 5 MAG Property Development (MAG 5 PD) has appointed Fujairah National Construction Company (FNC) to be a general contractor for the fulfillment of a new dwelling project titled MAG 5 Boulevard in Dubai. As of the contract, the company shall build the dwelling area within two years, as this condition was included in the construction tender.
Thus, the new living project will be situated in close vicinity to the site of the upcoming Expo 2020. So, MAG 5 Boulevard will be circled by the largest park in the UAE called Greenbelt Park. In addition, residents will have access to jogging and biking trails, playgrounds, hospital, schools, offices, restaurants, shopping malls and swimming pools. All apartments in the 1172 houses of this residential area will have balconies and will be proposed for a total cost of 700 million. dirhams ($ 191 million).