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UNION PROPERTIES PLANS SUBSIDIARY COMPANIES CONSTRUCTION
Union Properties, one of the UAE leading property investment developers has announced plans to diversify its operations and revenue sources by opening two new fully-owned subsidiary companies: Union Malls and Al Etihad Hotel Management.
The both projects is expected to be located in the heart of MotorCity where the Union Mall is to provide retail and leisure options with a 100,000-sq-m complex spreading over four floors while Al Etihad Hotel Management will develop and manage luxury hotels and furnished residences in Dubai and It is expected to provide hospitality services and facilities management for approximately 3000 serviced apartments and 3,500 hotel rooms throughout MotorCity.
Chairman of Union Properties, Nasser Butti Omair bin Yousef; “Guided by a new management team, masterplan and projects, Union Properties is beginning a new chapter in its proud history. We have identified the creation of divisions in the mall and hotel sectors as being key drivers for the next stage of Union Properties’ success that will serve to diversify our revenues while enhancing our communities,”
“The opening of our new mall subsidiary is the natural extension of this commitment that will enable us to create fantastic new shopping and leisure destinations in key developments like MotorCity. With a uniquely broad offering that combines retail and dining with sports and automobiles, The Central will not only be a great new asset for community residents but also for people across the whole emirate of Dubai,”
“Al Etihad Hotel Management launches with a pipeline of three hotel projects in MotorCity. The 25-level, five-star Vertex Hotel will be part of the 85-storey, 300-m high rise at the heart of the wider Vertex complex, which also includes 1,000 serviced apartments spread over 45 levels and crowned with the highest helipad in the UAE. Occupants will enjoy a wide range of leisure facilities, including tropical landscaped platforms from level 52 to 55.”
The plans where unveiled during the Cityscape Global 2017.