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Union Properties to launch 'Motor City' project in 2021

Union Properties to launch 'Motor City' project in 2021
The company completed a three-year strategic plan
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Dubai – Mubasher: Union Properties will launch a new project 'Motor City Hills' during the first quarter (Q1) of 2021, according to the company's disclosure to Dubai Financial Market (DFM) on Sunday.

The project is part of the company's three-year strategic plan, which aims to make the company one of the leading developers in the UAE and region.

Spanning over 2.9 million sqft, 'Motor City Hills' project includes 195 residential villas, 490 townhouses, and six commercial lands.

Upon completing all regulatory framework before the launch, the company will start selling units in the project.

The chairman of Union Properties, Khalifa Al Hammadi, said: "Over the years we have seen growing demand from customer for land plots to build their own customized and personalized 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 Rd."

It is noteworthy to mention that in 2019, the company logged a net loss of AED 218.806 million, against a net profit of AED 62.329 million in 2018.