Business | Property
Union Properties to develop commercial space within MotorCity
Union Properties will develop a 5,000,000 sqft area of high street retail, commercial and hospitality in its signature MotorCity development, the company announced on Monday.
- Staff Report
- Published: 13:00 October 6, 2008
- Image Credit: Supplied picture
- The new development will include 11 buildings stretching throughout the area
Dubai: Union Properties will develop a 5,000,000 sqft area of high street retail, commercial and hospitality in its signature MotorCity development, the company announced on Monday.
The new development will include 11 buildings stretching throughout the area, UP Chief Executive Officer Simon E. Azzam announced.
“We are delighted to announce the development of the unique high street retail, commercial and hospitality area within MotorCity,'' he said.
The buildings along this stretch will vary from four to ten storeys in a total Built Up Area (BUA) of 5,000,000 sqft, and total leasable area of 2,250,000 sqft with 4000 basement parking spaces and 800 surface parking spaces.
The retail area will comprise of 600,000 sqft space with a retail mix that will include boutique outlets, anchor stores, department stores, food & beverage, hypermarket, fashion & apparel stores, jewelry, furniture and home accessories, entertainment and specialty stores.
Office space will cover an area of 1,550,000 sqft for small to medium sized offices starting from 1,000 sqft up to 10,000 sqft. The hospitality space will account for boutique hotels and serviced apartments.
Azzam added that the new addition will enhance the existing residential commercial and leisure features in the development.
Business Editor's choice
-
Saudi-Bahraini economic ties hit new high
Whilst press reports continue speculating on a possible new political structure defining ties between Saudi Arabia and Bahrain, facts on the ground confirm ever- stronger economic ties between the two neighbours
-
Cupid targets the Fed with early tweets
Declarations range from pure romance to cute overtures and racier fare
-
Do unemployment figures flatter to deceive?
Jobseekers and recruiters give out mixed signals ranging from optimism to downright despair even as official data show recovery
