Union Properties to develop 5,000,000 sqft of high street retail, commercial and hospitality space within MotorCity

The company has announced that it will develop an area of 5,000,000 sqft of high street retail, commercial and hospitality in MotorCity, a development based on a unique automobile and motor sport theme that includes residential, business and leisure opportunities.

The project's construction has commenced and is due for completion in 2010.

"We are delighted to announce the development of the unique high street retail, commercial and hospitality area within MotorCity," said Simon E. Azzam, Chief Executive Officer, UP.

"The new development will include a total of 11 buildings that will stretch through MotorCity."

"Business and leisure are important factors that enhance any development and in the case of MotorCity, the new high street retail, commercial and hospitality areas will complement the existing residential, commercial and leisure components," commented Azzam.

"MotorCity is our latest addition to UP's brands, it is in fact 'a city within a city' with five project components that includes: Dubai Autodrome, F1-X Dubai, Business Park MotorCity and its two residential components of UPTOWN MotorCity and Green Community MotorCity."

With easy access from the MotorCity interchange, the high street retail, commercial and hospitality area will stretch through MotorCity.

The buildings along this stretch will vary from four to ten storeys in a total Built Up Area (BUA) of 5,000,000 sqft, and total leasable area of 2,250,000 sqft with 4000 basement parking spaces and 800 surface parking spaces.

The retail area will comprise of 600,000 sqft space with a retail mix that will include boutique outlets, anchor stores, department stores, food & beverage, hypermarket, fashion & apparel stores, jewelry, furniture and home accessories, entertainment and specialty stores.

Office space will cover an area of 1,550,000 sqft for small to medium sized offices starting from 1,000 sqft up to 10,000 sqft. The hospitality space will account for boutique hotels and serviced apartments.

"Our continued participation at Cityscape Dubai is part of the company's strategy to create local awareness for our development brands, as the exhibition creates a suitable platform to communicate on plans to sustain the development of creative projects as well as to fulfill the market needs," added Azzam.

"Cityscape Dubai has shown considerable increase in serious visitors over the past several years, which indicates the interest the show has received regionally and globally. For UP, it has worked out as good relationship building, awareness for its projects and brand."

In addition to MotorCity, UP is also showcasing Limestone House and Index at Cityscape Dubai. Limestone House, offers an incomparable standard of living focusing on opulence, style and traditional luxury.

Index, is an 80 storey multi-purpose tower with state-of-the-art offices for multinational corporations and minimalist designed luxury apartments. Construction on both Limestone House and Index is progressing for an early 2009 completion.