Dubai developer to build luxury residences near Swiss-Italy border
Property developer MAG is planning to build a 14-building luxury residential complex in Stabio in canton Ticino at a cost of CHF185 million.
MAG is one of the leading real estate companies in the United Arab Emirates and is expanding into Switzerland for its first international project.
The energy efficient (Minergie label) project of 180 flats includes a fitness area, a children’s playground and a co-working space, MAG said in a press release on Tuesday. The project, called Stabio Garden Living by KeturahExternal link, is being developed in collaboration with the Ticino-based A Group and is scheduled for completion in 2026.
It is the first international project for the Gulf-based luxury property developer. The developers believe that the Ticino municipality on the Italian border will have great potential as a result of the increase in the number of cross-border workers and the growth of businesses. Stabio is about a 20-minute drive from Lugano and an hour from Milan.
This new project in Switzerland follows the launch of “The Ritz-Carlton Residences, Dubai, Creekside”, which is part of the Keturah Resort, the luxury residential property Keturah Reserve and the emerging urban residential complex Keturah Downtown, all located in the urban area of Dubai.
The collaboration with the Ticino-based partner company will lead to “remarkable results and innovative solutions” that will “elevate residents’ lifestyles and redefine the real estate sector worldwide”, said MAG.
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