The Roads and Transport Authority (RTA) has recently started the Prequalification stage for potential developers & investors interested in bidding for the construction of the Union Oasis project.
The conditions set stipulate that bidders must have experience, will, and resources to undertake & accomplish the project in line with the provisions of the Law No 22 for 2015 governing the Public-Private Partnership (PPP) in Dubai.
“RTA has opened the door for receiving requests for prequalification of developers and investors interested in the project, who can still submit their requests up to 3rd December this year in order to offer them a sufficient time to fulfill the requirements at the highest standards & procedures stipulated,” said Abdul Mohsen Ibrahim Younes, CEO of RTA’s Rail Agency.
“During this month of October, RTA would hold individual meetings with developers to discuss the prequalification and the outlines of the tender. The prequalification documents along with the project information kit can be obtained either through downloading from RTA website (www.rta.ae), or via e-mail request to: ([email protected]),” he continued.
“RTA is keen on enhancing the attractiveness & feasibility of the project. In this regard, it would be flexible in dealing with the private developer in regards to the partial postponement of the land rental payment to make it proportional to the occupation rates during the first seven years. The private developer is no longer required to pay the land rental during the construction process,” confirmed Abdul Mohsen.
Other features of the project, which enjoys a prime location in Dubai, include its direct & smooth link with various mass transit modes such as the metro, buses, marine transit means and taxis. It also allows the gradual development of the project, setting a 30-year agreement period, and offering a 3-year grace period for construction works among other concessions. RTA will also be flexible with developers & investors in developing new design techniques or models for this project with the aim of maximizing the profitability rate.
It is anticipated that a private developer will enter in a concession agreement with RTA, being the proprietor of the site, where the developer will be responsible for designing, building, financing, managing, and operating this multi-uses project. The developer will be entitled to utilize the income generated from all commercial processes of all project components. In return, RTA will receive a return against the utilization of land.