Page 58 - UNION PROPERTIES PR REPORT - October 2024_Neat

The new Motor City offplan

launch is expected to bring Union

Properties Dh200m in profit

October 10, 2024

in Dubai, Reports and Updates, UAE

Reading Time: 2 mins read

Union Properties, a developer based in Dubai, anticipates making a tidy Dh200 million
profit on its return to real estate launches with a Dh1.15 billion project in Motor City. The
introduction of “Takaya” also signals a potential comeback for a business that, in the
previous two to three years, had been concentrating on rewiring itself following significant
financial losses.
A studio at a Takaya unit is listed for Dh750,777, with a three-year post-handover plan. For
mid-to upper-mid-range residential options, Motor City is already a well-known destination.
Union Properties is hoping that this will ignite the ideal spot in Dubai’s demand for
reasonably priced real estate.
The project’s Dh1.15 billion cost will be covered by the developer’s own resources plus some
bank financing. That is a significant statement the company is making on its own, especially
in light of the extensive organizational restructuring and three-year comprehensive
turnaround plan.

https://www.propertynews.ae/uae/the-new-motor-city-offplan-launch-is-expected-to-bring-union-
properties-dh200m-in-profit/