Multi-million dirham development project comprises of 38,000 square meters of residences, serviced apartments, hotels, offices, conference centre and more.
The Roads and Transport Authority (RTA) will embark on a multi-million dirham development of the Union Square, comprising approximately 38,000 square meters of residences, serviced apartments, hotels, offices, conference centre, personal services, community facilities, entertainment and retail, next to the Union Metro Station. The project, dubbed as Union Oasis, will begin in three months.
The build-and-transfer development project will give an opportunity to developers in the UAE interested to partner with the RTA by building the entire complex within three years and convert it into a huge business hub for the next 30 years. After this period, the project will be turned over to the RTA.
Khaled Amonayyer, head of Public-Private Partnership (PPP) RTA, said the project will be tendered within two to three months.
Amonayyer said Union Square was chosen as the project site due to the rapid ridership growth since its launch. 16 million people pass through the Union Station every year. He said the Dubai Metro effect on property prices include easy and efficient mobility, multi-modal transport options, lower transportation cost and excellent quality of facilities.
Osama Kamaleldin Hussien, Project Manager of Rail Planning and Projects Development Department, Rail Agency, said the developers will certainly have return on their investments. "This commercial project will specialize in transit-oriented development around the metro station."
The architectural vision of the project was endorsed by His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. This architectural vision focuses on a contemporary interpretation of massing and architectural language with a mix of modern building fused with a semi-traditional, podium design approach.
Copyright 2013 - Khaleej Times, Dubai, United Arab Emirates