Page 61 - UNION PROPERTIES PR REPORT - October 2024

Union Properties launches new development project

in Dubai

10 October 2024 01:04 PM
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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.

https://english.mubasher.info/news/4352096/Union-Properties-launches-new-development-
project-in-Dubai/