Page 61 - UP PR REPORT - February 2025

2/6/25, 10:42 AM Union Properties cuts debt, secures funding for new projects - Finance Middle East

The developer announced plans to retain 10 million square feet of gross floor area for future
development and is set to launch two new projects, including “Takaya” in Dubai’s Motor City. Takaya
will feature three residential towers comprising 744 units and penthouses, townhouses, villas, and
commercial space. The project is valued at approximately Dh2 billion.

“With the successful reduction of our legacy debt and acquisition of new funding to advance our
strategic expansion, we at Union Properties pave the way in a new era of growth and possibilities,”
said Eng. Amer Khansaheb, CEO and Board Member, Union Properties. “Our growing trust among
financial institutions and unwavering commitment to excellence will certainly lay the groundwork
for continued success, while also allowing us to address the evolving needs of urban populations.

“The strength and potential of the Company’s portfolio are also demonstrated in different format
by the availability of 10 million sq. ft. of GFA.”

© 2025 Published by ITP Media Group. All Rights Reserved.

https://www.financemiddleeast.com/news/union-properties-cuts-debt-secures-funding-for-new-projects/ 2/2