Union Properties, the Dubai-based developer, has begun work on the construction of Motor City Hills, building three-story townhouse villas.
The company has just signed an investment agreement with real estate firm Aqua Properties, which will play an “exclusive role” in the project’s marketing and sales operations.
Motor City Hills is Union Properties’ latest project in the heart of Dubai’s Motor City. Its first phase will deliver an additional 415 townhouse villas to the UAE property market. Each three-story residential unit will have an area of 3,000 square feet and feature four bedrooms.
“As promised to our shareholders… today we launch our second project in Motor City,” said Khalifa Hassan Al Hammadi, chairman of Union Properties.
Last August, the developer unveiled its apartment project, Motor City Views, which is expected to deliver another 880 residential units to the market.
Dubai’s off-plan market is starting to heat up after a lull during the pandemic last year. In 2020, demand for off-plan properties declined, while developers refrained from launching new projects.
Last August, the market saw 2,599 off-plan sales transactions worth 4.95 billion dirhams ($1.34 billion), the highest value recorded in a month for off-plan properties since December 2013, according to Property Finder.