Union Properties is to better expand its procedures and revenue resources by opening up two new fully-owned subsidiary business: Union Malls and Al Etihad Hotel Management.
Announcing the news at Cityscape Global 2017, Nasser Butti Omair bin Yousef, Chairman of Union Properties, said: “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.”
Union Malls will certainly supply retail and leisure choices in Union Properties developments. Found in the heart of MotorCity, its inaugural shopping center will be "The Central," a 100,000 square metre facility spread over four floors using shopping retail, eating and a vast array of leisure options.
The Central will be characterised by its sporting activities offering and will certainly include a 250-metre indoor velodrome fully-equipped for bicyclist and their trainers, a 700-metre elevated running track interior Olympic-sized swimming, a diving centre, six indoor basketball courts, medical collections for sporting activities therapy, and a 17,000 square foot gymnasium.
In keeping with its place in MotorCity, the auto will certainly be the other defining quality of The Central. A museum will make it possible for vintage car proprietors and makers to display their collections, while there will certainly also be a centre for the sale of made use of and classic cars.
Nasser Butti Omair bin Yousef, Chairman, Union Properties, said "For 30 years, Union Properties has put livability at the heart of our communities. The opening of our new Union Malls subsidiary is the natural extension of this commitment that will certainly enable us to create wonderful brand-new purchasing and leisure locations in key developments like MotorCity. With a distinctively broad offering that combines retail and eating with sports and automobiles, The Central will certainly not just be a fantastic new property for community residents yet likewise for people across the entire emirate of Dubai."
Al Etihad Hotel Administration is a fully-owned subsidiary of Union Properties set-up to develop and handle luxury resorts and provided homes in Dubai. It is anticipated to supply hospitality solutions and facilities administration for approximately 3000 serviced apartments and 3,500 hotel spaces throughout MotorCity, prior to expanding its business to the rest of Dubai and beyond.
Al Etihad Hotel Monitoring launches with a pipeline of three hotel tasks in MotorCity. The 25-leve, 5-star Vertex Hotel will become part of the 85-storey, 300 meters high at the heart of the wider Vertex complex, which also includes 1,000 serviced apartments topped 45 degrees and crowned with the greatest helipad in the UAE. Residents will certainly take pleasure in a wide range of leisure facilities, including exotic designed platforms from level 52 to 55.
The 35-storey, sports 4-star Central Hotel will lie directly opposite The Main shopping center by means of a pedestrian bridge. It will certainly include 350 rooms covered by 18 degrees of serviced houses. The 3rd hotel project, currently unrevealed, makes up around 270 serviced homes of differing sizes.
Mr. Bin Omair added: “Dubai is one of the world’s most dynamic travel and tourism destinations, with Union Properties well placed to serve the increasing levels of demand anticipated over the coming years. Al Etihad Hotel Management will give us access to this important market and add new infrastructure to our communities.”