Union Properties launches Takaya, a flagship project in Dubai Motor City
Union Properties launches Takaya, a flagship project in Dubai Motor City
Union Properties has announced the launch of the new Takaya project in Dubai Motor City. This massive $544 million (UAE Dh2 billion) project is designed to redefine the standards of urban living in the mid- to high-end segment. The Takaya project occupies a 436,175 square foot site overlooking Dubai's famous Autodrome and includes a 500-meter-long shopping boulevard. The development will consist of three residential towers that will house 744 luxury apartments ranging in size from studios to three-bedroom apartments. There will also be penthouses, townhouses, villas and commercial premises.
The official presentation of the project took place at the Ritz Carlton Hotel in Dubai. Union Properties CEO and engineer Amer Khansaheb spoke at the ceremony, emphasizing that the Takaya project reflects the company's commitment to innovation and sustainability. According to him, the project will not only be a symbol of luxury, but also an important step in creating a modern urban environment in the Dubai Motor City neighborhood.
The project offers a unique environment for residents, including a wide range of amenities such as sports fields, swimming pools, jogging tracks, children's play areas, movie theaters and co-working spaces. In addition, 150 parking spaces with charging stations for electric vehicles are provided.
Takaya targets the modern resident by offering attractive payment terms - 60% of the cost will be paid within three years of construction commencement and the remaining 40% within three years of handover. The project is expected to be completed in the fourth quarter of 2027.
Union Properties is actively developing its projects with plans to launch several more worth AED6 billion (about $1.6 billion) in the next 18 months. Due to the high activity in the real estate market, Motor City is becoming an attractive hub for investors and homebuyers, as evidenced by the sharp increase in real estate transactions over the past three quarters.
