Page 27 - UNION PROPERTIES PR REPORT- December 2024

12/24/24, 9:32 AM Union Properties breaks ground on ‘Takaya’ in Dubai Motor City - Arabian Business: Latest News on the Middle East, Real Estate, …
Takaya will also have a 500-meter-long shopping boulevard and promises to set a new
benchmark in the mid-to-high range segment.

The launch of ‘Takaya’ marks a crucial turning point in the evolution of Union Properties’

ambitious portfolio.

At the time of launch, Amer Khansaheb, CEO and Board Member of Union Properties said:
“Our overarching objective is to create a vibrant residential community overlooking the one

and only Dubai Autodrome, which will redefine the standards of modern urban living.”

Takaya’s enabling package involves 995 foundation piles, 99,000 cubic meters of excavation
(earthworks), and a 500-meter-long shoring boundary, which will be completed in six

months.

Mohamed Fardan Ali Al Fardan, chairman; Abdul Wahab Al Halabi, vice-chairman,
Khansaheb and other board members witnessed the ground-breaking ceremony, which

was held on Saturday.

The project showcases the company’s strategic focus on delivering advanced
developments that redefine urban living, while contributing to Dubai’s long-term vision for

sustainable growth and investment appeal.

In April this year, the company reached a significant milestone in its debt restructuring
plan and paid AED290 million ($78.9 million) to its lenders.

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