Union Properties today introduces the development of a new investment arm, UPP Capital expense, as the property group continuouslies present its diversification strategy.
The new entity will specialise in direct and indirect realty financial investments, and will give in-house expertise to support the group's long-term strategy.
Nasser Butti Omair bin Yousef, Chairman, Union Properties, said: "While we stay steadfastly devoted to our core specialisation of creating communities and bringing outstanding homes to the market, we are simultaneously taking actions to diversify our revenue streams, gain access to new markets and record new chances. The development of UPP Capital Investment is an extension of this strategy and the next phase of our enthusiastic technique to position Union Properties for restored success both in the UAE and overseas."
UPP Capital Expense is the third full-owned subsidiary developed by Union Properties in recent months, complying with Union Malls and Al Etihad Hotel Monitoring.
Union Malls provides retail and recreation choices in Union Properties advancements. Its inaugural shopping center will certainly be "The Central," a 100,000 square metre complicated situated in MotorCity spread over four floorings supplying buying retail, eating and a wide range of leisure options.
Al Etihad Hotel Management was established to create and manage luxury hotels and furnished houses in Dubai. It is anticipated to provide hospitality services and facilities monitoring for around 3,000 serviced apartment or condos and 3,500 hotel rooms throughout MotorCity, before increasing its business to the rest of Dubai and past. It releases with a pipeline of three hotel jobs in MotorCity under growth.
The 3 subsidiary firms will all play vital functions in Union Properties' new masterplan for its front runner MotorCity advancement in Dubai. Announced throughout Cityscape Global, the mega advancement will consist of 44 new low and high increase buildings, more than 150 vacation homes, and a wide range of household, industrial, home entertainment and hospitality centers.