Dubai – Mubasher: The Union Properties (UPP) received an initial approval on Theme Park project worth AED 600 million from Dubai Municipality.
The company noted that it is still waiting for clearance from Dubailand in order to conduct a detailed feasibility and consider the available financing options, according to a bourse filing on Wednesday.
The Dubai-listed firm added that it is studying the financing options of the Link Motor City project, of which the initial value is AED 300 million.
In an interview with CNBC Arabia, chairman, Khalid Bin Kalban, said that the company's under developing projects worth AED 1.6 billion to be accomplished in 33 years.
Kalban disclosed that UPP is about to launch a commercial and housing project in the Link Motor City in the coming months at a value of AED 400 million.
