Dubai Investments and Union Properties' Green Community creates solid foundations

All of which will be situated within the all encompassing residential, retail and business community of the Green Community in the Dubai Investments Park.

The contract, which equates to over Dhs168 million worth of building, is a key step in the progression of the Green Community, with several other contracts to be awarded in what will be a project worth in excess of Dhs600 million. The villas Belhasa Engineering & Contracting Co. are to construct will be equipped with state-of-the-art technology and have architectural design based on a Mediterranean style.

The Green Community has been developed as a result of a joint venture between Union Properties and Dubai Investments PJSC, and is part of the Dubai Investments Park. Located 35 kilometres from Dubai city centre, the park will be easily accessible by land, sea and air.

Mr. Khalid Kalban - Chief Executive Officer of Dubai Investments said, "Dubai Investments Park was conceived from Dubai Investments' idea of forming a business park to bring together multi-business organizations in a state-of-the-art, centrally managed, high tech, environmentally friendly park. Green Community is a feather in Dubai Investment Park's cap and heralds the concept of safe and comfortable living.

It compliments the Park in providing world-class residential facilities to its tenants. The Green Community is envisaged to stand true to its name in being very green with a man-made lake and each residential unit and office being surrounded by lush greens. We are in essence building a city within a city itself."

Further to developing the residential property within the Green Community, Belhasa Engineering & Contracting Co. will be responsible for the building of three fully functional recreation centers. Each center will provide the residential community the opportunity to utilize all recreation amenities, which include a swimming pool, fitness studio and common room.

Mr. Majed Belhasa - Managing Director of Belhasa Engineering & Contracting Co. said, "As an engineering and contracting company we are excited about the prospect of putting our mark on such an all encapsulating project and aid in making it the success it is set to be. Our past work was proof enough to Union Properties that we are more than capable of producing over and above our remit and within the time frame set. Union Properties are a company with many fantastic ideas and the Green Community is a prime example of their forward thinking. These are exciting times for us all."

Mr. Simon Azzam, Chief Executive Officer of Union Properties said, "The first package at the Green Community will provide around 2.5 million square feet of residential, leisure, retail and commercial property including 132 townhouses, 71 family villas and 10 luxury villas. Managed by Union Properties (Edara), this project will provide a secure and completely landscaped living environment from day one."

Other packages featuring within the development are:
•56 three-bedroom apartments in a terraced arrangement overlooking a man made lake
•5 office blocks of approximately 3,500 m2 each
•45 one and two bedroom apartments conveniently located adjacent to the office blocks
•170 one, two and three bedroom apartments in a gardened environment on the outskirts of the villa development
•A commercial centre including restaurants, retail, supermarkets and a health club
•160 room hotel
The completed overall project is expected to be ready for occupancy towards the end 2003.

Union Properties core business is Property Investment and Development, which involves investing in and developing residential, commercial, industrial and retail property. Other areas of business include property management, facilities management, interior design and fit-out, along with services provided by the company's subsidiaries and associates, namely project management by Edara, electromechanical contracting by Thermo, instant offices by Regus, furnished serviced apartments by Marriott Executive Apartments and health and fitness services by Nautilus Academy.