Union Properties unveils $544m Takaya development in Dubai Motor City
Union Properties has officially launched its new $544m Takaya project in Dubai Motor City.
Takaya sets a new standard in the mid-to-high range segment, promising exceptional living experiences for its residents.
The launching ceremony was held at the Ritz Carlton DIFC, in the presence of Eng. Amer Khansaheb, Chief Executive Officer and Board Member, Union Properties. During the ceremony, Eng. Khansaheb highlighted how the project demonstrates the Company’s steadfast dedication to advancing Dubai’s Real Estate sector.
The Takaya project is constructed over a plot area spanning 436,175sq ft, overlooking the Dubai Autodrome, along with a 500-metre retail boulevard.
It comprises three residential towers with 744 affordable luxurious apartments. It also offers competitive unit sizes (studio, one, two and three-bedroom) and pricing, making it a compelling market choice., along with penthouses, townhouses, villas, and commercial space.
Eng. Amer Khansaheb said: “We are thrilled to officially launch the eagerly awaited ‘Takaya’ project in Dubai Motor City, which reflects our unwavering commitment to innovation, sustainability and excellence.
“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.
“By leveraging our extensive industry expertise and market insights, we look forward to capitalising on new opportunities in the real estate market and future-ready liveable environments.
“The market has witnessed significant growth over the previous years, making the Motor City a global hub for property investors and homebuyers.
“The sector is expected to continue expanding in the coming years, further strengthening its appeal within the broader UAE market.”
According to Dubai Land Department data, Motor City has experienced a sharp rise in real estate transactions and a notable acceleration of market momentum over the last three quarters.
Recently launched off-plan projects in Motor City have experienced strong demand, which has a positive impact on the appreciation of property values.
Moreover, the UAE’s real estate market is anticipated to continue its strong performance in the coming years with projections pointing towards an astounding value of $700bn by 2024. Between 2024 and 2028, an annual growth rate of 3.03 per cent is expected, resulting in a market volume of $800bn by the latter year.
The Takaya development will offer:
- Outdoor sports courtyards
- Leisure pool
- Kid’s pool
- Jogging track
- Kids’ play area
- Multipurpose rooms at each tower
- Arcade lounge
- Co-working spaces
- Cinema/AV room
- Retail outlets
- Food and beverage establishments
- 150 parking spaces equipped with EV chargers
Takaya’s launch payment plan, is 60 per cent due within three years of construction and 40 per cent due in three years post-handover, providing investors and end users with further cash flow flexibility.
The handover date for the project is expected to be in Q4 2027.
Union Properties plans to launch AED6bn ($1.6bn) projects in the next 18 months.
Source: Arabian Business
