Union Properties Unveils AED 2B Takaya Project in Dubai
Union Properties PJSC launches its AED 2 billion Takaya project in Dubai Motor City, promising to redefine urban living standards.
Summary
Union Properties has begun construction on the AED 2 billion Takaya project in Dubai Motor City, aiming to set new benchmarks in urban living.
Union Properties PJSC, a leading name in the UAE's real estate sector, has officially broken ground on its ambitious AED 2 billion Takaya project in Dubai Motor City. This development marks a significant milestone in the company's growth trajectory and its commitment to redefining urban living in the region.
The Takaya project is strategically located overlooking the Dubai Autodrome, offering residents a unique blend of luxury and convenience. Spanning over 436,175 sq. ft. of prime land, the development features three residential towers comprising 788 luxury housing units, including studios, 1, 2, and 3-bedroom apartments, as well as penthouses, townhouses, and villas. The project also includes a 500-meter-long shopping boulevard, catering to the diverse needs of its residents.
The groundbreaking ceremony, held on December 20th, 2024, was attended by key figures from Union Properties, including Chairman Mr. Mohamed Fardan Ali Al Fardan and CEO Eng. Amer Khansaheb. The event marked the beginning of a project that not only supports the UAE's booming real estate industry but also aligns with Dubai's vision for sustainable growth and investment appeal.
Union Properties' strategic focus on delivering advanced developments is evident in the Takaya project, which promises modern amenities, spacious layouts, and sleek finishes. The company's commitment to quality and innovation is likely to enhance its reputation and attract more investors, making it a strong contender in the real estate market.
The enabling package for Takaya involves extensive groundwork, including 995 foundation piles and 99,000 cubic meters of excavation, set to be completed within six months. This meticulous planning underscores Union Properties' dedication to creating a top-tier living environment that meets the expectations of discerning buyers.
Given the promising outlook of the Takaya project and Union Properties' strategic initiatives, investors may find this an opportune time to consider adding the company's stock to their portfolios. The project not only enhances the company's asset base but also positions it favorably in a competitive market. Therefore, a buy recommendation is suggested for those looking to capitalize on Union Properties' growth potential.
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Summary
Union Properties has commenced construction on its AED 2 billion "Takaya" project in Dubai Motor City. This mixed-use development spans 436,175 square feet and includes three residential towers with 788 luxury units, ranging from studios to villas, alongside a 500-meter shopping boulevard. The project aims to redefine urban living in the mid-to-high range segment with modern amenities and upscale environments. The ground-breaking ceremony took place on December 20, 2024, attended by key figures from Union Properties, highlighting the company's commitment to supporting the UAE's real estate industry and contributing to Dubai's sustainable growth. The foundational work is expected to be completed in six months.
