The Project Includes 788 Units In Three Towers, Including 39 Townhouses, 5 Villas, And 744 Apartments.
Tuesday saw the announcement by Union Properties of the impending opening of Takaya. The company’s most recent mid-to-high range property offering and its first brand-new project since 2015. The mixed-use development is a component of the company’s turnaround plan. That will build in the Motor City neighborhood and have 788 units spread across three towers. Including 5 villas, 39 townhouses, 744 apartments, and 55,000 square feet of retail space. The project, with a built-up area of roughly 2 million square feet and a gross floor area of 1.18 million square feet, is estimated to be worth Dh1.6 billion.
The project has cutting-edge sound insulation and looks out over the Dubai Autodrome. Townhouses, villas, and apartments will connect by a 450m-long sky garden. That will locate on the podium level of the development.
The opening of Takaya is a significant milestone for Union Properties, according to board member and managing director Amer Khansaheb. It proves the continuing effectiveness of our turnaround strategy that we were able to reenter the market. With such a distinctive and high-quality mixed-use real estate offering in a prime and highly sought-after area of Dubai.
“Union Properties is well positioned to capture additional opportunities in the thriving real estate market in the UAE. We have completed successfully our debt restructuring, and we have an attractive land bank. As well as deep expertise in real estate development.” The third quarter of 2023 target for the start of project construction. Which is currently awaiting regulatory approvals. The 4th quarter of 2025 expects unit handover.