Emirates News Agency – Union Properties “extinguishes” ownership of a shopping mall under construction

DUBAI, 22nd September / WAM/ The Union Properties Company announced in a statement the signing of
A memorandum of understanding with one of the real estate developers in Dubai, according to which the exit will take place in a manner
Full ownership of one of the shopping centers under construction in Motor City at a cost
of 420 million dirhams.

His Excellency Khalifa Hassan Al Hammadi, Chairman of the Board of Directors of Union Properties, said:
We recently studied the needs of the real estate market in the Emirate of Dubai
Accordingly, in order to achieve the strategy and vision of the Council, it was necessary to diversify
The real estate portfolio owned by the company and in line with market supply and demand
Real estate.. Union Properties already has good commercial space
It is either in Motor City or in our Uptown Mirdif project, and the council decided
It is better to get out of the mall under construction when you get
Appropriate presentation.

wam /mba/

WAM / Mubarak Khamis / Zakaria Mohieldin

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