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A. PROJECT PROFILE
- Master Community Jumeirah Lakes Towers
- Property Types Available Residential Tower
- Location Plot No. K2 - JLT
- Status Under Construction
- Year Launched 2017
- Estimated Completion Date Q1 2020
- Developer MAG Lifestyle Development on Behalf of MBL Property Development
- Title Type Freehold
- Quality Classification High-End
- Development Stage Under Construction
- Under Construction Property 1 - Building 472 - Apartments / 4B + G + HC + Mech Floor + 40 Typical Floors + Roof
ABOUT MBL RESIDENCE TOWER
MBL Residence Tower is a state-of-the-art, unique tower with contemporary architectural design that is being developed in the Jumeirah Lakes Towers area of Dubai, a high-end secured community. It has been designed to become an iconic development and lush landscaping will define the entrance and the top of the podium.
MBL Residence Tower will consist of prestigious retail restaurants and lounge areas in the tower floors, luxurious amenities including a fully equipped gym, an outdoor swimming pool and a landscaped area with barbecue spaces. The retail outlets are allocated on the promenade level facing the lake and with direct access to pedestrians.
WHO IS THE DEVELOPER?
MAG Lifestyle Development, the real estate development arm of MAG Group is one of the region’s largest corporate entities. MAG LD is an industry leader that offers everything from high-end luxury developments to pioneering affordable housing proposals.
WHAT ARE SOME KEY FEATURES OF THE PROJECT?
• MBL Residence Tower offers 1, 2 & 3 bedroom apartments.
• There are 4 parking floors.
• The project has been designed to become an iconic development with retail, restaurants and other amenities such as a fully equipped gym, outdoor swimming pool and a landscaped area with dedicated barbecue space.
|The Greens, Dubai Jumeirah Heights||5 min||Get Directions|
|Jumeirah Islands||10 min||Get Directions|
|Jumeirah Beach Residence||10 min||Get Directions|
|Meadows||8 min||Get Directions|
|Springs||10 min||Get Directions|
|Discovery Gardens||10 min||Get Directions|
|Jumeirah Park Villas||10 min||Get Directions|
|The Lakes||10 min||Get Directions|
|Garden Views Villas||13 min||Get Directions|
|The Greens||10 min||Get Directions|
|Al Furjan||17 min||Get Directions|
|Al Muntazah Complex||15 min||Get Directions|
|Jumeirah Village Triangle||13 min||Get Directions|
|Emirates International School||9 min||Directions|
|Jebel Ali Nursery, Meadows Village||10 min||Directions|
|Raffles International School, The Lakes||9 min||Directions|
|Dubai British School, Jumeirah Park||9 min||Directions|
|Jebel Ali Nursery, The Lakes||9 min||Directions|
|American University||8 min||Directions|
|Dubai British School, Emirates Hills||10 min||Directions|
|Dubai British Foundation, Jumeirah Islands||9 min||Directions|
|Winchester School, Jebel Ali||13 min||Directions|
|Delhi Private School||13 min||Directions|
|Regent International School||11 min||Directions|
|Arcadia Preparatory School||11 min||Directions|
|Dubai College||11 min||Directions|
|American School of Dubai||15 min||Directions|
|Sunmarke School, JVT||14 min||Directions|
|Dubai National School||15 min||Directions|
|Armada Medical Centre||11min||Get Directions|
|Medcare Medical Centre, Marina||8 min||Get Directions|
|Mediclinic – Meadows||8 min||Get Directions|
|Medcare Medical Centre, JBR||12 min||Get Directions|
|iCare Clinics, Discovery Gardens||9 min||Get Directions|
|Marina Medical Center||10 min||Get Directions|
|Emirates Hospital||10 min||Get Directions|
|Aster Gardens Specialty Clinic||10 min||Get Directions|
|Orion Family Medical Center LLC||9 min||Get Directions|
|American Hospital Clinics, DMC||12 min||Get Directions|
|Medcare Medical Centre, Discovery Garden||8 min||Get Directions|
|Lifeline Hospital||14 min||Get Directions|
|Saudi German Hospital||13 min||Get Directions|
|Dubai Marina Mall||9 min||Get Directions|
|The Beach, JBR||13 min||Get Directions|
|Meadows Village||11 min||Get Directions|
|Ibn Battuta Mall||8 min||Get Directions|
|The Lakes Club||9 min||Get Directions|
|The Pavilion, Jumeirah Park||6 min||Get Directions|
|The Town Center||9 min||Get Directions|
|Discovery Pavilion||13 min||Get Directions|
|Nakheel Mall||11 min||Get Directions|
|Al Khail Avenue Mall||15 min||Get Directions|
|City Centre Me’aisem||23 min||Get Directions|
|Al Barsha Mall||17 min||Get Directions|
|Mall of the Emirates||16 min||Get Directions|
|Address Montgomerie||8 min||Get Directions|
|Bonnington Jumeirah||5 min||Get Directions|
|Radisson Blu Residence, Dubai Marina||7 min||Get Directions|
|Address Dubai Marina||8 min||Get Directions|
|InterContinental Dubai||8 min||Get Directions|
|GHA Loyalty||9 min||Get Directions|
|The Ritz-Carlton, Dubai||9 min||Get Directions|
|Mövenpick Hotel||11 min||Get Directions|
|Ramada Plaza Jumeirah Beach||10 min||Get Directions|
|Rixos Premium Dubai||11 min||Get Directions|
|JA Resorts & Hotels||21 min||Get Directions|
|The BEACH||10 min||Get Directions|
|JBR Beach||10 min||Get Directions|
|Jumeirah Islands||9 min||Get Directions|
|Dubai Marina Walk||9 min||Get Directions|
|Al Sufouh Beach||13 min||Get Directions|
|Jebel Ali Racecourse||13 min||Get Directions|
|Dubai Miracle Garden||19 min||Get Directions|
|Dubai Autodrome||18 min||Get Directions|
|Palm Jumeirah Boardwalk||20 min||Get Directions|
|Butch Harmon School of Golf||18 min||Get Directions|
|Type||Typical NSA [GFA]|
|1BR||From 770 sq.ft to 812 sq.ft|
|2BR||From 1379 sq.ft|
|3BR||From 2970 sq.ft to 3044 sq.ft|
All title deeds issued for MAG MBL will be on a freehold basis as the project is situated in one of the
designated areas recognised by the government where non-UAE Nationals can own properties in Dubai
under the Dubai Property Laws. The units are sold outright for a specific purchase price to a purchaser
and there is no time restriction on freehold ownership rights.
The maintenance and service fees will vary depending on the yearly costs and expenses involved in
the maintenance, operation and upkeep of the common areas in the concerned community as per the
market rates and as approved by Real Estate Regulatory Agency (“RERA”) which is a function under
the Dubai Land Department (“DLD”). Information pertaining to the formulation of these charges will
be spelt out elaborately in the Master Community Declaration (“MCD”) or in the Disclosure Statement
which will be part of the sales documentation.
The Addition/deletion of joint owner(s) is possible but subject to a transfer fee and a process as laid
down by the DLD. If a joint-owner to be added is a first-degree relative, the transfer would be considered
as by way of a gift, and the transfer fee would be different from the normal transfer fee. A transfer
between siblings (brother or sister) is not considered as a gift. As such, a purchaser will have to follow
the same process as followed for a resale or a normal transfer and all documentation will have to be
completed before a change is effected in the ownership documents either at MAG or the DLD. The
Purchaser will have to pay administrative fees to MAG as well as the appropriate transfer fees payable to
the DLD to effect any change in the ownership details. If a transfer is by gift, the Purchaser will have to
deal directly with the DLD.
In this instance you would need to contact the Customer Service Department at MAG and they will
advise you on the steps to be taken. You may be required to provide an indemnity in favour of MAG
providing the reasons how you lost the SPA and undertaking to return the lost SPA if found at a later
date. The validity of your request will then be verified by us and a true copy of the SPA shall be provided
to you upon payment of AED 5,000 administrative fee.
Issuance of an SPA takes a minimum of 15 – 30 days from the date of purchase to be issued, as all
sales are subject to approval and documentation compliance. MAG needs to ensure that down-payment,
Oqood and registration charges are cleared in full before an SPA is issued. Purchasers are required to
sign the SPA within seven (7) days of being notified to approach MAG offices to sign the SPA.
A site visit is an opportunity to visit the actual project site or view the mock-up unit of your home with
one of our sales coordinators. Mock-up units are available to give you an idea of how the unit would look
like upon completion. However, the accessories displayed in the unit may not be included in the unit you
No changes can be made to the external façade and structure of the property/unit until the construction
is complete. However, small internal modifications may be carried out after the unit is fully constructed
and handed over, subject to clearance from the development team of MAG and other government
authorities (DHCC or Dubai Municipality). Administrative fees could apply for providing the NOC by MAG.
CAN I RENT OUT MY PROPERTY ONCE IT’S HANDED OVER TO ME?
Yes, you can rent out your property once the handover process is complete.
The sales office is currently located at Emirates Financial Towers (26th floor), DIFC, Dubai, UAE.
Mock-up units are created only to demonstrate how a finished unit might look like once completed.
Usually the mock-up unit is presented with sample furniture, appliances, etc. However, your unit will be
provided to you as per the specifications provided in your SPA and not necessarily look identical to the
Mock-up unit you may see at the Sales Office. Further, you could expect some variation to the unit or the
common areas in accordance with your SPA once the project is completed.
Nearing the completion of the project, MAG will notify the purchasers of the Handover Date by way
of Completion Notice in accordance with the SPA and request the purchasers to complete their
payments in relation to the purchase price and any other amounts due to proceed with the handover.
The Purchasers would also be provided an opportunity to inspect the unit and prepare a snag list or
schedule of defects which will be countersigned by the Project Manager or his representative. The
Project Manager will use its best endeavours to remedy the snags before the Handover Date. Any
outstanding snags which cannot be carried out before the handover date will be completed during the
defect liability period. Notwithstanding, the Purchaser will be bound to complete the payments and
take possession of the Unit on the handover date. The Unit will be deemed to be handed over from the
handover date stated in the Completion Notice in the event the Purchaser fails to complete payment,
inspect the Unit, or take possession of Unit. No further inspection opportunity will be provided to the
Purchaser. The purchasers will also be notified of the documents that would be required to complete the
• Keys to their unit
• List of important phone numbers
• Car parking number (if not already stated in the title deed)
• Access card(s) (if applicable)
• Car security sticker (if applicable)
• Owner’s Manual
PROPERTY REGISTRATION & RESALE
All transactions that create, transfer, amend, or extinguish Real Property Rights have to be recorded with
the DLD in compliance of the Dubai Property Laws including long term leases or leasehold properties.
No, the Purchaser does not have to be a resident of the UAE to be eligible to own a property in the
Emirate of Dubai.
The Purchaser needs to submit a copy of his valid passport along with the completed and signed
booking form or SPA and any other documents as required by the DLD. Once the down payment
and Oqood fees are paid and cleared, the sale can be registered in Oqood. MAG has a designated
department which liaises with the DLD and undertakes registration of the sale on behalf of
DLD procedures mandate all sales to be registered within sixty (60) days from the date the property is
sold. Accordingly, it is mandatory for the purchasers to ensure all documents as required by the DLD
are provided to MAG on time to ensure timely registration and avoid any penalties imposed on the
purchasers for non-registration of the sale. Any penalties imposed by the DLD on MAG for the delay in
registering the sale, due to the Purchaser’s fault, will be recovered from the Purchaser. Please note the
penalty imposed by the DLD could be double the registration fees and therefore it is imperative that the
Purchaser abides by the timelines and requirements of the DLD.
Once the sale of your unit is registered with the DLD, you will be contacted by MAG to collect the
registration documents (Initial Contract of Sale and receipts for the fees paid). For overseas Purchasers,
the documents can be couriered subject to specific request from the Purchaser only or alternatively
these can be retained in the Purchaser’s file to be picked up at a later date.
As per the DLD, the current registration fee stands at 4% of the purchase price and is subject to change
at the discretion of the DLD. The preferred mode of payment is by way of Manager’s Cheque issued in
the name of the Dubai Land Department directly or alternatively, the fees can be paid to MAG who can
in turn pay to DLD when registering the sale of your unit.
There is a fee of AED 5,000 payable to MAG as an administrative fee for liaising with the DLD and
registering the interest of the purchaser.
The registration fees are paid to the DLD. The fee is required by the DLD to register the owner’s right in
the property at the DLD registry.
• For off-plan projects, the Purchaser and the incoming purchaser (new) need to contact MAG
customer service to apply for a No Objection Certificate (NOC). The NOC is subject to fulfilling
the payment obligations of the purchaser under the SPA and any conditions laid down by
MAG. The Purchaser is required to be up-to-date with all its payment obligations on the date of
applying the NOC.
• The Purchaser is required to pay 30% of the Purchase Price in order for MAG to allow any resale
and is subject to NOC from MAG;
• Appropriate administrative fees to process the NOC and SPA need to be paid to MAG, currently
being AED 5,000.
• The Purchaser must collect an NOC from MAG and provide completed Transfer of Ownership
Form and the required documents of the incoming purchaser to process the transfer and
arrange a new SPA to be issued in favour of the incoming purchaser.
• All payments that are due on the date of application for NOC need to be settled before the NOC
is issued in accordance with the resale restrictions of MAG.
• The transfer will be registered in MAG interim registry and then completed at the DLD subject to
transfer fees being paid to the DLD directly.
• Once the resale is completed at the DLD, the incoming purchaser will have to provide a copy of
the Initial Sale Contract to MAG to update their records.
• For completed properties, the parties should approach MAG to apply for the NOC, be up-todate
with all payments due to MAG or the Owners Association before proceeding to the DLD for
transfer of ownership.
We are introducing a comprehensive Lease to Own campaign for MBL. After witnessing the success of this strategy for MAG 5, we are proud to launch MAG YES PLAN – Lease to own.
The plan offers 1 and 2 bedrooms apartments at MBL. Our prices have been studied to match the leasing market of such a building with an all-inclusive payment package.
- Your client will pay rental value for the selected unit over 10 years.
- After 10 years the client will have the option to convert the property from Lease to Own to full ownership.
- The remaining amount can be paid via bank mortgage till up to 20 years
- The annual payment includes all our fees such as admin fees and service charges.
- One bedroom annual all-inclusive YES PLAN rent: AED 75,000.
- Two bedrooms annual all-inclusive YES plan rent: AED 115,000.
The payment plan for the Project is:
• Apartments – 35% during construction and 65% on completion (breakdown of 35% is as per the
payment schedule attached to the SPA)
• Villas – 65% during construction and 35% on completion (breakdown of the 65% is as per the
payment schedule attached to the SPA)
• Service charges and any other administrative charges upon completion will be communicated
through the Completion Notice.
The payment details are outlined in the SPA.
MAG will provide thirty (30) days’ notice to the Purchaser to remedy the default, of which if Purchaser
fails to do so, MAG reserves the right to take all necessary action to pursue the Purchaser for its default
pursuant to the SPA and in accordance with the applicable laws.
You can send an e-mail using your registered email ID to MAG customer service or by visiting the MAG
sales office. We encourage you to immediately notify MAG of any change in your address and telephone
numbers in order not to miss out on important updates from MAG on progress of the project or any
notification in accordance with the SPA.
Yes. Once the Purchaser’s interest is registered with the DLD, in its Interim Property Register the
Purchaser can take a home loan and register a mortgage on the property by paying the requisite fee to
the DLD. Please note, only bank or financial institution that is duly licensed and registered with the UAE
Central Bank can provide finance for the property.
Under the Law, newly constructed residential properties that are supplied for the first time (and
within the three (3) years of their construction) are exempted from paying any VAT, however, there is
still ambiguity on the date of supply i.e. whether it is the date of payment or whether it is the date of
completion of the property.
Yes, you can purchase the property in the name of your free zone company, subject to meeting the
requirements of the DLD and the concerned free zone authorities. In order for MAG to register the
property in the Interim Property Registry, the Sales team will guide you on the document required to
register the property in the name of a free zone company.
There is no substantial difference between the Principal and Joint Owners as both are considered to be
equal shareholders of the property unless notified by the parties to the DLD otherwise. For instance, a
husband and wife would prefer to have a 50:50 shares in the Property, however, a property purchased
by two friends could have a different percentage, depending on their contribution in the property.