Al Zorah Development Company Inks Landmark Deal with MAG Group
Deal News | May 22, 2025 | Zawya

Al Zorah Development Company, a partnership between the Government of Ajman and Solidere International, has signed a significant land acquisition deal with MAG Group Holding. This agreement is set to pave the way for the development of a premium mixed-use waterfront project in Al Zorah City. The project will span over a 261,180 square-foot area in Al Zorah Marina 1, featuring a built-up area of approximately two million square feet. It includes residential units, branded and serviced residences, office spaces, retail outlets, and a hotel. The collaboration reflects a shared vision to create sustainable, luxury communities by blending innovative urban design with environmental responsibility. More details about this ambitious development will be announced in the future.
Sectors
- Real Estate Development
- Construction and Infrastructure
Geography
- United Arab Emirates – The entire deal and development project is situated within the UAE, specifically in Al Zorah City, Ajman.
Industry
- Real Estate Development – The article discusses a significant real estate development project in Al Zorah City, making the real estate sector highly relevant.
- Construction and Infrastructure – Given the focus on building a large, mixed-use waterfront development, the construction and infrastructure industry is integral to the project.
Financials
- 261,180 square feet – The size of the plot of land acquired for development in Al Zorah Marina 1.
- Two million square feet – The built-up area envisioned for the new mixed-use development.
Participants
Name | Role | Type | Description |
---|---|---|---|
Al Zorah Development Company | Target company | Company | A joint venture between the Government of Ajman and Solidere International focused on developing Al Zorah City. |
MAG Group Holding | Bidding company/buyer | Company | A multinational conglomerate with interests in various sectors, engaged in the land acquisition deal for a new development in Al Zorah City. |
George Saad | CEO | Person | CEO of Al Zorah Development Company who signed the agreement. |
Moafaq A. Al Gaddah | Founder and Chairman | Person | Founder and Chairman of MAG Group Holding, participated in signing the agreement. |