Page 29 - UNION PROPERTIES PR REPORT- December 2024

12/24/24, 9:32 AM Union Properties gets started on Dh2b project in Motor City as comeback gathers pace
on regaining financial and operational viability. In this period, Dubai has been through an offplan

sales boom, with 2024 all set to close as the best ever.

The Takaya will take the shape of three residential towers with 788 units. There will also be a 500-
meter long shopping boulevard. Through the years, creating mixed-use communities has been a

particular strength for Union Properties, and this project too is playing to that. Motor City already is

a bustling development, with its retail and F&B options proving popular.

The Bayut property portal has listings for an in-development studio unit at Motor City for

Dh570,000, while one-bedroom prices are from Dh900,000. On rentals, a one-bedroom shows
Dh83,000 and it's Dh135,000 for a two-bed.

UP stock price

On the DFM, the Union Properties' share price had a fairly active trading month, hitting a near 10%
gain in a day at one point. In both the last 1-month and 6-month cycle, the stock's gain has been

12.5%. "Shareholders continue to vest confidence that this UP management will once and for all

resolve its legacy issues," said an analyst. "The land bank UP owns is valuable and creating

community themed projects has been a UP strategy for long.
"If Takaya delivers, UP can buy itself some more space to grow."

The share is running at Dh0.40.

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