Dubai – Mubasher: Union Properties (UP) on Monday announced the launch of the Zawaya project in Dubai Motor City.
Spanning 148,000 square feet, Zawaya will feature more than 400 residential units, the UAE-based firm said in a filing to the Dubai Financial Market (DFM).
The project will also include retail stores, sports and entertainment facilities, various options of restaurants and cafes, and open and green spaces.
Zawaya is the first phase of the new main scheme to develop Motor City, the real estate developer remarked, giving no further details on the project's cost or its timeframe.
In September, Union Properties signed an agreement with China State Construction Engineering Corporation Ltd to implement this project.
The Dubai-listed developer may launch a sukuk sale of up to AED 8 billion to finance the Motor City project, chairman Naser Butti Omair Yousef said.
