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CancelledStatus in the DLD project register · project no. 1863

Mag 5

Mag 5 in Madinat Al Mataar, Dubai: DLD project no. 1863, registered 2017, listed as cancelled in the DLD project register. Developer: Mag 5 Property Development L.L.C.
7.6%Completion recorded
6Floors
2017Registered with DLD
6DLD site photos
Mag 5, Madinat Al Mataar: Dubai Land Department inspection photo, September 2017
DLD status

Status and what it means

Mag 5 is a real-estate project in Madinat Al Mataar, Dubai, registered with the Dubai Land Department (DLD) as project number 1863 in 2017 by Mag 5 Property Development L.L.C.

The Dubai Land Department (DLD) project register lists the project as cancelled. DLD does not publish the date of the cancellation decision in its public records; the last inspection on 5 September 2017 is the closest dated milestone. Once a project is cancelled, refund claims from its escrow account are handled through the special tribunal for the liquidation of cancelled real-estate projects in Dubai.

DLD inspections recorded completion of 7.6% at the latest inspection on 5 September 2017, which indicates only early-stage works on site. It was planned with 6 floors.

The facts on this page are taken from public DLD project records. They are not legal advice. If you bought a unit in this project, the recovery options depend on your contract, your payment history and the escrow position, which we assess case by case.

Project facts

AreaMadinat Al Mataar
DeveloperMag 5 Property Development L.L.C
DLD project number1863
DLD statusCancelled
LocationMag 5, Madinat Al Mataar, Dubai
Registered with DLD22 February 2017
Construction start (planned)1 April 2017
Latest DLD inspection5 September 2017
Completion recorded7.6%
Floors6
Escrow bankEmirates Nbd Bank (P.J.S.C)
Timeline

Registration and inspection history

  1. Registered with DLD
  2. Planned construction start
  3. DLD inspection · completion 7.6%

Status in the DLD project register: Cancelled. DLD does not publish the date of the cancellation decision; the last inspection is the closest dated milestone.

Location

Where the project is

Open in Google Maps · Plot coordinates from DLD records: 24.95091888, 55.23019776

DLD inspections

Site photos from DLD inspection records

Mag 5, Madinat Al Mataar: Dubai Land Department inspection photo, September 2017
Photo: Dubai Land Department project inspection, September 2017
Mag 5, Madinat Al Mataar: Dubai Land Department inspection photo, September 2017
DLD inspection photo, 5 September 2017
Mag 5, Madinat Al Mataar: Dubai Land Department inspection photo, September 2017
DLD inspection photo, 5 September 2017
Mag 5, Madinat Al Mataar: Dubai Land Department inspection photo, September 2017
DLD inspection photo, 5 September 2017
Mag 5, Madinat Al Mataar: Dubai Land Department inspection photo, September 2017
DLD inspection photo, 5 September 2017
Mag 5, Madinat Al Mataar: Dubai Land Department inspection photo, September 2017
DLD inspection photo, 5 September 2017

Site photos from Dubai Land Department inspection records. They show the state of the site on the inspection date, not today.

If you bought a unit in Mag 5

  1. Gather your evidence. Sale and purchase agreement, all payment receipts, escrow deposit confirmations, and any correspondence with the developer.
  2. File your claim. Claims on a cancelled project are made through the special tribunal for liquidation of cancelled projects, which distributes the escrow balance and other recoverable assets among buyers.
  3. Get an assessment. Recovery depends on the escrow position, how much was built, and the developer's other assets. We assess this on a success-fee basis, with no upfront cost.
Investment recovery services Contact us
Questions

Frequently asked questions

Is Mag 5 cancelled?

The Dubai Land Department project register lists Mag 5 (DLD project no. 1863) with the status "Cancelled". DLD does not publish the date of the cancellation decision in its public records.

Who was the developer of Mag 5?

Mag 5 was registered with DLD by Mag 5 Property Development L.L.C (developer no. 1079).

Where is Mag 5 located?

Mag 5 is in Madinat Al Mataar, Dubai. The DLD location record reads: Mag 5, Madinat Al Mataar, Dubai.

How much of Mag 5 was built?

The latest DLD inspection recorded 7.6% completion.

Can buyers in Mag 5 get their money back?

Buyers in cancelled Dubai projects can claim against the project's escrow account through the special tribunal for liquidation of cancelled projects. What is recoverable depends on the escrow balance, the amount built and the developer's other assets. Freehold Solutions assesses claims on a success-fee basis.

Nearby

Other cancelled projects in Madinat Al Mataar

(Ebony1) Jumeirah Business Center8, Al Thanyah Fifth: cancelled Dubai project (plot icon)Parklane ResidenceDubai South Properties Dwc LlcThe Assembly, Madinat Al Mataar: project renderThe AssemblyEmaar Dubai South Dwc LlcExpo Golf Apartments, Madinat Al Mataar: Dubai Land Department inspection photo, April 2020Expo Golf ApartmentsEmaar Dubai South Dwc LlcAshai Tower 5, Jumeirah Village Circle (JVC): cancelled Dubai project (highrise icon)Forest City Tower 3Al Helal Al Zahaby Real Estate Development L.L.CSaffron, Madinat Al Mataar: Dubai Land Department inspection photo, December 2018SaffronEmaar Dubai South Dwc LlcTown Central, Madinat Al Mataar: project renderTown CentralDamac Development(L L C)
Freehold Solutions

Stuck in a cancelled or stalled Dubai project?

With Mohamed Alazazi Advocates & Legal Consultants we recover investments in cancelled projects on a success-fee basis. No upfront fees: we are paid only when you are.

How investment recovery works
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