MAG Robotic Investments has signed a contract with Emaar, the global property developer based in the UAE, for the development of a fully automated parking facility on a Build Operate Transfer (BOT) basis at Dubai Marina.
MAG Robotic Investments has assigned MAG Royal Solutions, one of the pioneers of smart automated parking solutions in the UAE, to manage the new Dubai Marina project. The facility will accommodate approximately 700 cars and significantly ease parking pressure around the Dubai Marina area.
The automated parking facility, which represents the third largest to be developed by MAG Royal Solutions, will be located on the ground and first floors of a building that will also be home to state-of-the-art restaurants and retail outlets. The building has been designed to complement the unique architectural concepts that already characterise Dubai Marina and the restaurants will offer an ideal ambiance and splendid views of the Marina and Dubai skyline.
Effective and smart parking solutions are integral to the efficiency and liveability of cities. The automated parking facility will eliminate the need to walk or drive around various parking decks in search of a vacant space or parked car. This will dramatically decrease foot traffic and driving inside the parking facility, contributing to zero emissions and making the facility environmentally clean and fully compliant with green building requirements. Valet parking will also be provided to ensure the comfort of patrons and visitors.
MAG Royal Solutions is a subsidiary of the MAG Group of Companies and a sister company to MAG Lifestyle Development, a leading property developer in the UAE. It is a prominent name in the region’s automated parking business, having designed and installed the large-scale automated garage at Emirates Financial Towers in the Dubai International Financial Centre (DIFC), which is listed in the Guinness Book of World Records as the largest automated parking facility in the world.
Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer and provider of premium lifestyles, with a significant presence in the Middle East, North Africa and Asia. One of the world’s largest real estate companies, Emaar has a land bank of 187 million sqm in the UAE and key international markets.
With a proven track-record in delivery, Emaar has delivered over 44,200 residential units in Dubai and other global markets since 2002. The company also has strong recurring revenue generating assets with over 766,000 sqm of leasing revenue generating assets and 17 hotels and resorts with 3,400 rooms. Today, around 52 percent of the Emaar’s revenue comes from its shopping malls & retail, hospitality & leisure and international subsidiaries.
Among the company’s most popular developments are Burj Khalifa and The Dubai Mall which is considered the world’s largest shopping and entertainment destination. Emaar has also launched a magnificent new tower that will serve as the centrepiece of the Dubai Creek Harbour development.