Al Zorah Development Company Inks Landmark Deal with MAG Group

Deal News | May 22, 2025 | Zawya

Al Zorah Development Company Inks Landmark Deal with MAG Group

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

NameRoleTypeDescription
Al Zorah Development CompanyTarget companyCompanyA joint venture between the Government of Ajman and Solidere International focused on developing Al Zorah City.
MAG Group HoldingBidding company/buyerCompanyA multinational conglomerate with interests in various sectors, engaged in the land acquisition deal for a new development in Al Zorah City.
George SaadCEOPersonCEO of Al Zorah Development Company who signed the agreement.
Moafaq A. Al GaddahFounder and ChairmanPersonFounder and Chairman of MAG Group Holding, participated in signing the agreement.