Union Properties has commenced construction on its AED 2B ($540M) Takaya project in Dubai Motor City.
The development spans 436,175 square feet and overlooks the Dubai Autodrome, featuring a 560-metre roadside elevation. It will include three residential towers with 788 luxury units, including studios, 1-, 2-, and 3-bedroom apartments, as well as penthouses, townhouses, and villas. A 500-metre shopping boulevard will also form part of the project, targeting the mid-to-high property segment.
Amer Khansaheb, CEO and Board Member of Union Properties, remarked: “Our goal is to create a vibrant residential community overlooking the iconic Dubai Autodrome, redefining modern urban living.”
Takaya’s first phase includes 995 foundation piles, 99,000 cubic metres of excavation, and a 500-metre shoring boundary, set for completion within six months. Union Properties Chairman Mohamed Fardan Ali Al Fardan, Vice-Chairman Abdul Wahab Al Halabi, Khansaheb, and other board members attended the ground-breaking ceremony on Saturday.
This project aligns with the company’s vision of delivering innovative developments and supporting Dubai’s sustainable growth goals. Earlier this year, Union Properties advanced its debt restructuring plan, repaying AED 290M ($78.9M) to lenders.
