Dubai-based Union Properties - Plans for Motor City Hills

Project will include 195 villas, 490 townhouses and six areas of commercial land.

Dubai-based Union Properties has revealed plans to launch its new Motor City Hills project.

The 2.9 million square foot development has been announced following the conclusion of the developer’s three-year ‘Strategic Blueprint Plan’.

Overlooking Sheikh Mohammed Bin Zayed Road, the project is adjacent to the race track and will include 195 villas, 490 townhouses and six areas of commercial land.

Khalifa Al Hammadi, who was appointed chairman of Union Properties in June, said: “We are excited to roll out our new plans with many aspirational and innovative products to introduce to the market. We want to continue to be a pioneer in the real estate industry with products suitable for all customer and investor categories.

“Over the years we have seen growing demand from customers for land plots to build their own customised and personalised house design, therefore, we are introducing for the first time Motor City Hills villas and townhouses in one of our prime locations on Sheikh Mohammed bin Zayed Road.”

Union Properties has completed more than 60,000 units in recent years, including projects such as OIA Residence and Uptown in Motor City; Index Tower and Ritz Carlton in DIFC; the Green Community in DIP, along with Uptown Mirdiff.

In February this year, Union Properties announced AED218.8m ($59.5m) net losses for 2019, blaming bank financing costs and a "stagnation" in the real estate sector.

The losses were compared to a net profit of AED62.3m in the previous year.

While in March, the company announced that it was in the final stages of signing a memorandum of understanding with China National Chemical Engineering Limited (CNCEC) for the Dubai Autodrome expansion project valued at approximately $54.5m.

(Source: Arabian Business)