Page 53 - UNION PROPERTIES PR REPORT - October 2024

10/11/24, 11:20 AM Dubai's Union Properties launches $545 million ‘Takaya' development in Motor City

Motor City sees strong demand
Developments like Takaya by Union Properties greatly contribute to Motor City’s market value and status by
complementing current market offerings. According to DLD data, Motor City has experienced a sharp rise in real
estate transactions and a notable acceleration of market momentum over the last three quarters. Recent off-plan
projects in Motor City have experienced strong demand, which has a positive impact on the appreciation of
property values.
Overall, the UAE’s real estate market is anticipated to continue its strong performance in the coming years with
projections pointing towards an astounding value of $0.7 trillion by 2024. Between 2024 and 2028, an annual
growth rate of 3.03 percent is expected, resulting in a market volume of $0.80 trillion by the latter year.
Read: ADGM enhances real property, off-plan development regulations, launches new platform

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