Page 15 - UNION PROPERTIES GENERAL REPORT - October 2024_Neat

12. Union Properties: Takaya

Type: Mixed-use residential development

Value: $544.5 million

Union Properties has launched a new mixed-use residential development project in
Dubai Motor City.

Named Takaya, the project caters to the mid-to-high range segment and is
constructed on a 40,500-square-metre plot overlooking the Dubai Autodrome and
a 500-metre retail boulevard.

The project is worth approximately $544.5 million (AED2 billion). Handover is
expected in Q4 2027. Construction is planned to start on 31 October 2024.

In a filing to the Dubai Financial Market, Union Properties disclosed the projected
cost of the project is $315.5 million (AED1.159 billion).

It consists of three residential towers with 744 apartments that fall in the affordable
luxury category, ranging from studio to three-bedroom units, as well as
penthouses, townhouses, villas and commercial space.

https://www.constructionweekonline.com/power-lists/top-18-projects-launched-in-october-2024-
regions-thinnest-skyscraper-branded-residences-and-more