The $540 million project will have three residential towers with 788 units, apart from penthouses, townhouses, and villas
Union Properties Commences Construction of AED 2 Billion Takaya Project in Dubai Motor City
Union Properties has officially begun construction on its ambitious AED 2 billion ($540 million) Takaya project, strategically located within the vibrant Dubai Motor City community.
This landmark mixed-use development spans an impressive 436,175 square feet of land, offering breathtaking views of the iconic Dubai Autodrome. Designed to elevate urban living standards, the project features three state-of-the-art residential towers comprising 788 luxury units, including studios, 1-, 2-, and 3-bedroom apartments. Additionally, Takaya includes an array of premium housing options such as penthouses, townhouses, and villas.
Adding to its appeal, the development will boast a 500-meter-long shopping boulevard, setting new standards in the mid-to-high residential segment and blending convenience with sophistication.
The launch of Takaya represents a transformative milestone in Union Properties’ journey to expand its diverse portfolio.
Speaking at the groundbreaking event, Amer Khansaheb, CEO and Board Member of Union Properties, shared his vision:
“Our goal is to craft a dynamic residential community with unparalleled views of Dubai Autodrome, redefining the essence of modern urban living.”
The project’s initial construction phase includes significant groundwork, such as the installation of 995 foundation piles, excavation of 99,000 cubic meters of earth, and the creation of a 500-meter-long shoring boundary. This phase is set to be completed within six months.
The groundbreaking ceremony was graced by Mohamed Fardan Ali Al Fardan, Chairman of Union Properties; Abdul Wahab Al Halabi, Vice Chairman; Amer Khansaheb, and other board members, marking the start of a project that promises to reshape the urban living landscape in Dubai.
Takaya underscores Union Properties’ commitment to delivering innovative developments that align with Dubai’s vision for sustainable growth and investment appeal.
Earlier this year, Union Properties made significant strides in its debt restructuring efforts, successfully repaying AED 290 million ($78.9 million) to its lenders. This milestone highlights the company’s dedication to financial stability and its unwavering focus on future growth.