Dubai-based Union Properties has recently launched an AED1.6 billion development in Dubai Motor City
called Takaya, which will comprise 788 units (apartments & townhouses) and a 450-meter sky garden
that will connect all the units and will offer amazing views over the Dubai Autodrome. According to
statement issued by the developer, this new project is symbolic of its turnaround strategy. The project
will feature three towers including 39 townhouses, five villas, 744 apartments and 55,000 square feet of
retail space. It will also consist of electric vehicle charging stations and state-of-the art sound insulation.
According to reports, Union Properties registered an unprecedented growth in the third quarter of this
year in line with the current trends in Dubai real estate market. The company’s net profit for the three
months until September was AED825,000 while during the same period last year, the developer
registered a loss of over AED31 million.