Page 29 - UNION PROPERTIES PR REPORT - November 2024

11/15/24, 1:23 PM Union Properties’ vision for Dubai’s real estate market
Furthermore, the influx of expatriates and a growing local population will continue to drive demand
for residential properties, particularly affordable housing and family-oriented developments. In
addition, integrating technology in real estate, such as proptech solutions, and the big focus the UAE
is giving sustainability will significantly contribute to this growth and development.
What are the new trends in real estate that will impact the economy? How does Union
Properties plan to adapt to trends to ensure sustainable growth?
According to the World Bank’s Global Economic Prospects report, the UAE’s real GDP is projected
to grow by 4.1 percent in 2025 due to investments in key sectors, including real estate. As the
country continues to boost its investment in this key sector, various trends are expected to contribute
to its growth.

In the UAE, a significant trend expected to persist is the demand for affordable properties that
provide luxurious, lifestyle-oriented living. In line with this, developers are capitalizing on the
opportunity to integrate residential properties with hospitality services.
Another key trend is the increasing focus of the UAE government on sustainability, with developers
focusing on eco-friendly and sustainable materials, energy-efficient designs, and green
certifications.
Additionally, mixed-use developments are becoming increasingly popular for their convenience and
accessibility, offering a more manageable lifestyle. For instance, we at Union Properties recently
launched our latest mixed-use development, Takaya. It is valued at approximately AED2 billion and
spread across an area of 436,175 sq. ft. overlooking the Dubai Autodrome.

Can you elaborate on the concept and vision behind the newly launched Takaya?

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