Dubai's Union Properties prepares three-year plan for a full-scale revival
Dubai developer has had some difficult years with losses and debts mounting
Dubai: Union Properties confirmed it has prepared a three-year plan that would help with its turnaround after a few years of under performance and mounting losses.
The blueprint calls for the launch of a new project, Motor City Hills, that will extend to 2.9 million square feet of gross floor area. The project overlooks Shaikh Mohammed Bib Rashid Road, and adjacent to the Dubai Autodrome.
The project will include 195 villas, 490 townhouses and six commercial plots.
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“We once steered the real estate market in the UAE, and we are looking to take our rightful place to pioneer [the] industry once again with products suitable for all customer and investor categories,” said Khalifa Al Hamadi, Chairman.
“Over the years, we have seen growing demand for plots to build their own personalized house design – we are introducing for the first time villa and townhouse plots in one of our prime locations on Sheikh Mohammed Bin Zayed Road.”