Saturday, January 06, 2018
According to the Union Properties, the Dubai-based estate group has launched a new investment arm, UPP Capital Investment. The Dubai developer continues to roll out its diversification strategy with this brand new investment arm.
The new entity is supposed to put the focus on direct and indirect real estate investments. As stated by the company, it will provide in-house expertise to support the group’s long-term strategy.
The chairman of Union Properties, Nasser Butti Omair bin Yousef stated that they are taking steps to diversify their revenue streams, access new markets and capture new opportunities. At the same time, they are also focusing on remaining absolutely committed to their core specialization of developing communities and bringing fabulous homes to the market. He also mentioned that the formation of UPP Capital Investment is a continuation of this approach and their next phase of their ambitious strategy shall be to position Union Properties for renewed success both in the UAE and overseas.
In the past few months, UPP Capital Investment is the third full-owned subsidiary formed by Union Properties. This subsidiary follows Union Malls and Al Etihad Hotel Management. Many retail and leisure options are offered by Union Malls in Union Properties developments. The Central will be its inaugural mall. It is an impressive 100,000 square meter complex located in MotorCity spread over four floors that offer shopping retail, dining and an elaborate range of leisure options.
Al Etihad Hotel Management was built to develop and manage luxury hotels and furnished residences in Dubai. The anticipation is that it shall provide hospitality services and facilities management for approximately 3,000 serviced apartments and 3,500 hotel rooms throughout MotorCity. Then it shall focus on expanding its business to the rest of Dubai and beyond. Launching a pipeline of three hotel projects, it is expected to make its mark in MotorCity under development.
As far as the flagship MotorCity development in Dubai is concerned, the three subsidiary companies are all expected to play roles in this new master plan of Union Properties. It was announced during Cityscape Global that the mega-development will comprise of 44 new high and low rise buildings, more than 150 villas, and a vast range of residential, commercial, entertainment and hospitality facilities.
Source: Arabian Business