It can going to get active at Dubai Motor City as developer Health And Fitness (UP) prepares to put into action a revised master policy for the extension of the already popular community early on the coming year. Union Properties lately signed a memorandum of understanding with the China and tiawan State Construction Engineering Company (CSCEC) to jointly develop the new components, valued at near to Dh8 billion.
“We will source the funding through direct finance or financial market devices, ” says Nasser Butti Omair Bin Yousef, chairman of UP. Yu Tao, president and CEO of CSCEC Middle East, proved his company’s commitment to the project.
“We are willing to assist in many aspects, as the financial market responds to the majority of our deals extremely favorably, ” says Tao. “So we believe with our excellent relationship with local and international banks, we can bring for the reason that Chinese language factor, banks and insurance, as well. inches
The design phase
The project will take four years to complete and require a great investment of Dh2 million per year, according to Bin Yousef. “The first phase will be the Vertex, at the heart of the new master plan, 75 storeys high, ” says Bin Yousef. “This will become the landmark of Motor City. ”
The Vertex will be consists of five towers, including a five-star hotel and serviced apartments. UP’s fully-owned subsidiary, Al Etihad Hotel Management, is starting its portfolio with 3 properties under development in Motor City and is expected to provide the food services and take over the facility management.
On the residential side, more than 11, 500 new units from 44 low-rise and high-rise buildings and around 150 villas are being planned. Businesses will appreciate the 300, 000 sq m of work place that will be developed, while residents and visitors can take good thing about the expanded retail space.
A sporty lifestyle
Motor City is well known for the Dubai Autodrome, but they have also flourished into a green residential haven.
“We want to re-energise the community, ” says Noticed Ying Huei, consulting you of UP. “Sport is one part of it. We want to make health and fitness a priority. Activities that you usually do outside, you can do that inside during the summer’s hottest months. And it’s not going to be just another skiing or skating rink in a mall. ”
Huei according to the design team is now fine-tuning the learn plan. “The developer desires to innovate its old asset, that has been the park. The empty land will now become a city. And what was formerly going to become the Automall will become mixed-use spaces, ” he says.
Union Malls, another recently created subsidiary of UP, will be in demand of what is to be known as The Central, a four-storey intricate filled with shops, caf? s and eateries, and a lot of leisure and sporty activities.While motor sport is still part of the plan, there will be room for ultra-modern spacious biking facilities, a super-sized children’s pool and a running trail.
“It’s not simply about showing cars; there is plenty of that but there are people who want to do other things, inches says Huei. Huei points out that landscape designers of Singapore’s park project, influenced by Cornwall’s Green Eden project, were involved. “We’re not doing gimmicky structure, but one where people like us want to have. It will look very much like an environmentally friendly Eden project indoors; you will have plants and the air will be rich in air, ” explains Huei.
The hotels will also be sporty. “We’ll find sports activities hotel operators and health and fitness; they can be already very popular in Mallorca and Asia, like Phuket, ” says Huei. The park concept will have space for residential properties to be built around it. “All the best properties in the world are around parks. We don’t want another huge massive project, that is not the point, but to re-energize the old master-plan. “