Dubai-based developer Union Properties is set to further diversify its operations and revenue sources by opening two new fully-owned subsidiary companies – Union Malls and Al Etihad Hotel Management.
Announcing the news at Cityscape Global 2017, Nasser Butti Omair bin Yousef, chairman, Union Properties, says, “Guided by a new management team, masterplan and projects, Union Properties is beginning a new chapter in its proud history. We have identified the creation of divisions in the mall and hotel sectors as being key drivers for the next stage of Union Properties’ success that will serve to diversify our revenues while enhancing our communities.”
Union Malls will provide retail and leisure options in Union Properties developments. Located in the heart of MotorCity, its inaugural mall will be ‘The Central’, a 1.07 million-sqft complex spread over four floors offering shopping retail, dining and a wide range of leisure options.
The Central will be characterised by its sports offering and will feature a 250-metre indoor velodrome fully-equipped for cyclist and their trainers, a 700-metre indoor elevated running track, indoor Olympic-sized swimming, a diving centre, six indoor basketball courts, medical suites for sports therapy and a 17,000 sqft gymnasium.
In keeping with its location in MotorCity, the automobile will be the other defining characteristic of The Central. A museum will enable classic car owners and manufacturers to display their collections, while there will also be a centre for the sale of used and classic cars.
“For 30 years, Union Properties has put liveability at the heart of our communities. The opening of our new Union Malls subsidiary is the natural extension of this commitment that will enable us to create fantastic new shopping and leisure destinations in key developments like MotorCity. With a uniquely broad offering that combines retail and dining with sports and automobiles, The Central will not only be a great new asset for community residents but also for people across the whole emirate of Dubai,” adds Yousef.
Al Etihad Hotel Management is a fully-owned subsidiary of Union Properties set up to develop and manage luxury hotels and furnished residences in Dubai. It is expected to provide hospitality services and facilities management for approximately 3,000 serviced apartments and 3,500 hotel rooms throughout MotorCity, before expanding its business to the rest of Dubai and beyond.
“Dubai is one of the world’s most dynamic travel and tourism destinations, with Union Properties well placed to serve the increasing levels of demand anticipated over the coming years. Al Etihad Hotel Management will give us access to this important market and add new infrastructure to our communities,” Yousef states.
Words by Farimah Moeini, Snapchat Head of Industry – Retail and Travel TheJuly 5, 2021 | By RetailME Bureau
Snapchat has been betting big on Augmented Reality’s (AR) retail future consideringJune 22, 2021 | By Jibran Chouguley
Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and
UAE-based Al Maya Group announced that it will be boosting import of
UAE-based grocery retail chain, Grandiose has opened its first hypermarket in Abu
UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand
Locally owned supermarket Spinneys celebrates 60 years of doing business in the
UAE-based Carrefour will become the first retailer in the region to offer new levels
The Organic Farmers’ Market is back in Bay Avenue for its 12th
UAE-based Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah,
Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones
UAE-based Al Maya Supermarkets is hosting a two-week food festival at select
Locally-owned supermarket Spinneys has launched its ‘Power of Plants’ initiative in the
UAE-based REDTAG will launch its specialized, new outlet in City Centre Deira
Extravagant, conceptual, great food and views are some of the ways that
UAE-based Al-Madina Group opened two new projects, Crown Mall and Mango Hypermarket,
Abu Dhabi’s state investment company ADQ is in talks to invest about $500 million
UAE-based REDTAG has launched its latest retail outlet on at Doha’s City Center
UAE-based Carrefour has opened a new store at the world’s busiest international
The once powerful department stores that anchored malls and streets around the
FILA has opened its new futuristic flagship store in Dubai Mall. The 158m²
Who isn’t a sucker for discounts? Customers today are spoiled for choice
The various e-commerce and virtual retail stores that cater to different product
UAE-based Times Square Center is getting ready to reveal its newly refurbished,
A private helicopter carrying the chairman and managing director of Lulu Group,