Page 62 - UNION PROPERTIES PR REPORT - October 2024

Union Properties launches new development project

in Dubai

Dubai – Mubasher: Union Properties has officially launched its new Takaya project in Dubai Motor City, setting
a new standard in the mid-to-high range segment, according to a press release.
The Takaya project aims to enhance the offerings provided within the Motor City’s master community while
delivering novel and distinctive amenities that will attract investors and fulfil diverse customer needs
The mixed-use project is constructed over a plot area spanning 436,175 sq. ft, overlooking the Dubai Autodrome,
along with a stunning 500-metre retail boulevard. It includes three residential towers with 744 affordable
luxurious apartments.
Amer Khansaheb, CEO of Union Properties, stated: “By leveraging our extensive industry expertise and market
insights, we look forward to capitalising on new opportunities in the Real Estate market and future-ready liveable
environments.”
“The sector is expected to continue expanding in the coming years, further strengthening its appeal within the broader
UAE market,” Khansaheb added.
The UAE’s Real Estate market is forecast to continue its solid performance in the coming years with projections
pointing towards a value of $700 billion by 2024.
Between 2024 and 2028, an annual growth rate of 3.03% is expected, resulting in a market volume of $800 billion
by the latter year.
The company aims to launch projects at an aggregated value of AED 6 billion during the next 18 months.
In the first half (H1) of 2024, Union Properties recorded net profits valued at AED 34.77 million, versus AED 17.71
million as of 30 June 2023.
Mubasher Contribution Time: 10-Oct-2024 09:04 (GMT)
Mubasher Last Update Time: 10-Oct-2024 09:04 (GMT)

https://www.decypha.com/en/news/details/Union-Properties-launches-new-development-
project-in-Dubai/21443289