CSCEC Middle East signed a Memorandum of Understanding (MoU) with Union Properties at Dubai Cityscape Global Real Estate Exhibition on September 11th, 2017. Union Properties’ Chairman, Mr. Nasser Butti Omair Bin Yousef, President & CEO of CSCEC ME, Mr. Yu Tao, and Executive Vice President, Mr. Wu Ming attended the signing ceremony.
CSCEC ME and Union Properties will jointly develop a master plan in Dubai Motor City. The master plan will cost AED 8 billion, which is equivalent to US $ 2.2 billion. It will include 44 new high and low rise buildings, more than 150 villas, and a wide range of residential, commercial, entertainment and hospitality facilities.
Union Properties is one of the leading property investment developers in the UAE. It awarded the main construction contract for OIA Residences in MotorCity to CSCEC ME in 2016. With the official signing of the MoU between Union Properties and CSCEC ME, the two-party partnership will certainly be further strengthened.