National Properties takes on project in Motor City

Company to develop an upscale Green Community in Motor City

NEWS, Business, Dubai, Property, Real estate

National Properties, a subsidiary of National Bonds Corporation, has signed an agreement with Union Properties to develop an upscale Green Community in Motor City.

The project will be delivered in two phases and will include high-end apartments and luxury villas and is expected to be complete by the end of 2015.

The first phase of the project will deliver 78 luxury villas across an area of 330,000ft2., while the second phase will include 74 luxury villas and 58 apartments.

Mohammed Qasim Al Ali, general manager of National Properties, said: “We are confident that our strategic agreement with Union Properties to develop a quality project will complement the vision and objectives of the Green Community in Motor City. This project will, in turn, help reiterate our vision to deliver high-end real estate on par with international standards right here in Dubai, while diversifying our current portfolio of real estate between yield generating assets and development projects such as this one.”

Ahmad Khalaf Al Marri, general manager for Union Properties, added: "This collaboration consolidates a year of significant milestones for Union Properties, which at the end of 2013 topped the trading platform at the Dubai Financial Markets. The recent significant boost in the real estate market is a strong indicator of the beginning of a new era of sustainable growth in the country."

Established in 2007, National Properties is known for projects such as Skycourt Towers and the Andalucia Collection villas at Dubailand.

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