First homes handed over at motor racing-themed Dubai project
April 3, 2009 by OPPE News
Construction is being finalised and homes handed over at a much-anticipated Dubai real estate project with a motor racing theme. Union Properties said hand overs at Uptown MotorCity started on a phased basis from Wednesday, with available real estate including studios, one, two, and three-bedroom apartment homes.
MotorCity is a master planned real estate scheme with five integrated communities over a total of 38 million sq ft off Emirates Road in Dubai. It includes Dubai Autodrome, a 5.39km racing track, and an F1-themed centre, plus the Uptown apartment homes development, which also includes villa homes.
Union Properties said: “Residents moving into the development will be a combination of owners, leasing tenants of Union Properties’ rental portfolio and residents on rent-to-own plans.
“The development is a secure living environment architecturally designed along the lines of our first Uptown development.”
Homes are still on sale in the development, with a one bedroom apartment fetching around AED 930,800 ($253,447).
Retail real estate, parks, sports facilities and swimming pools, along with schools and other facilities make up the rest of the project.
New homes in the UAE are still set to appeal to expatriate buyers during the global slowdown, with many still seeing property as a good investment, according to a recent survey from Zurich International Life.
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Looks to be a very nice development. For more from the residents see Dubai Motor City Community .
Worthy Investment at this time of recession. It’s a world class project.