The real estate sector is an essential component in the United Arab Emirates’ quest for economic diversification. Thanks to initiatives like Dubai’s Economic Agenda (D33), the country has become a property hub where affordability, sustainability, and integrated urban living co-exist.
This growth in the country’s real estate sector cannot be more relevant as more people are now seeking properties beyond traditional homes. Today, we see a growing demand for mixed-use developments, eco-friendly building practices, and smart technologies. And the trend of wanting vibrant communities that offer convenience, luxury, and functionality is here to stay.
In this interview, Eng. Amer Khansaheb, CEO and board member of Union Properties PJSC, talks about how the company is leveraging these trends. He also shares insights into the future of Dubai and the UAE’s real estate market.
As we are close to the year’s end, how do you anticipate the real estate market in Dubai and the UAE will evolve in the coming years? What factors will drive its growth and development?
In Dubai and the UAE, we anticipate continued growth in the real estate market, driven by an influx of tourists and surging commercial activities. The sector is also set to evolve further, influenced by several key factors, such as the regulatory reforms and the UAE’s efforts to diversify its economy beyond oil, particularly through initiatives like Dubai’s Economic Agenda (D33).
Furthermore, the influx of expatriates and a growing local population will continue to drive demand for residential properties, particularly affordable housing and family-oriented developments. In addition, integrating technology in real estate, such as proptech solutions, and the big focus the UAE is giving sustainability will significantly contribute to this growth and development.
What are the new trends in real estate that will impact the economy? How does Union Properties plan to adapt to trends to ensure sustainable growth?
According to the World Bank’s Global Economic Prospects report, the UAE’s real GDP is projected to grow by 4.1 percent in 2025 due to investments in key sectors, including real estate. As the country continues to boost its investment in this key sector, various trends are expected to contribute to its growth.
In the UAE, a significant trend expected to persist is the demand for affordable properties that provide luxurious, lifestyle-oriented living. In line with this, developers are capitalizing on the opportunity to integrate residential properties with hospitality services.
Another key trend is the increasing focus of the UAE government on sustainability, with developers focusing on eco-friendly and sustainable materials, energy-efficient designs, and green certifications.
Additionally, mixed-use developments are becoming increasingly popular for their convenience and accessibility, offering a more manageable lifestyle. For instance, we at Union Properties recently launched our latest mixed-use development, Takaya. It is valued at approximately AED2 billion and spread across an area of 436,175 sq. ft. overlooking the Dubai Autodrome.
Can you elaborate on the concept and vision behind the newly launched Takaya?
We launched Takaya with the vision to develop a residential community that seamlessly combines luxury with functionality. With the meticulously designed spaces and smart layouts, we aim to offer a holistic living experience to the residents of Takaya. One of the key goals we kept in mind is to redefine the conventional concepts of mid-to-high-end living in Dubai by offering residents an extraordinary living experience.
The project, constructed over a plot area spanning 436,175 sq. ft, along with a 500-meter retail boulevard and sleek finishes to state-of-the-art amenities, is set to provide a prestigious living experience for residents. The newly launched project reflects our unwavering commitment to innovation, sustainability, and excellence. It features advanced smart building management systems that utilize state-of-the-art technologies to minimize energy consumption and operational costs.
Our unwavering commitment to promoting sustainability and smart living while addressing the needs of the urban environment is reflected in every stage of Takaya’s development.
What distinctive features does Takaya offer that set it apart from other residential developments in Dubai’s mid-to-high market?
Takaya is an ideal combination of meticulously designed spaces and intelligent layouts that ensure maximum functionality and comfort. In line with this, we have designed the project with a wide range of amenities, including jogging tracks, multiple swimming pools, fully equipped gyms, multipurpose halls, coworking spaces, private cinemas, and a daycare area for children. In Takaya, there will also be large green spaces to complement Motor City’s urban street setting and 200,000 sq. ft. sky garden.
Designed by integrating high-performance facades and energy-efficient technologies, the project surpasses the benchmarks of green building regulations. Furthermore, the availability of EV charging stations positions Takaya as a forward-thinking project that not only follows contemporary trends but also sets new ones.
These features, which ensure a balance of urban vibrancy and tranquility in green spaces, make the project a primary option for those seeking projects that blend quality, sustainability, and community-centric living.
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What are the primary focus areas for Union Properties’ growth in the next few years?
At Union Properties, we seek to strengthen our leading position in the UAE’s real estate sector by catering to the needs of a multitude of customers.
One of our major goals is to expand our property portfolio in the next 18 months with new projects worth AED6 billion at Motor City. Our strategic goals for the next five years focus on three core pillars: enhancing quality of life, embracing sustainability, and leveraging smart building technologies to future-proof the building.
