- September 9, 2018
- Posted by: Waqas Siddiqui
- Category: Others, Retail & Manufacturing
UNION COOP ANNOUNCES DH 94M COMMERCIAL CENTER IN DUBAI SILICON OASIS
Union Coop to setup Dh 94 million (US$ 25 M) commercial center in Dubai Silicon Oasis. The announcement by Union Coop underlies the importance of Silicon Oasis Community as the most sought-after neighborhood in Dubai providing upcoming businesses a great opportunity to invest in education, cafe & restaurant, fitness, healthcare & wellness, hospitality, retail, innovation and technology sectors.
Dubai – Union Cooperative (Coop), one of the local retailers recently signed an investment contract with Dubai Silicon Oasis Authority (DSOA) to develop a commercial center worth Dh94.4 million (US$ 25.7 M) in Silicon Oasis. The commercial center will comprise of retail outlets at the ground floor and dedicated first floor to Union Cooperative Hypermarket spanning roughly 60,000 Sq. Ft.
The announcement is considered as a quality addition to the retail offering by DSOA as they are keen attract investors who can offer range of diversified services to Silicon Oasis residents who are growing in number on annual basis. The opening of Union Coop is likely to benefit the residents of Silicon Oasis and neighboring areas, which includes Nad Al Sheba, Queue Point (Liwan) and other upcoming residential Dubai South communities on Sheikh Mohammed bin Zayed road.
Dubai Silicon Oasis – Strategic Location for Investments
Established in 2005, Silicon Oasis is fast emerging as one of the best master-planned community in Dubai. The community hosts more than 2,000 companies, ranging from information technology, innovation and other business sectors. In addition, DSOA has successfully setup Dubai Technology Entrepreneur Centre (DTEC), to support startups and SMEs and promote Co-working culture in Dubai and UAE.
Silicon Oasis includes commercial towers, educational institutes, free hold properties (commercial & residential) and full range of lifestyle facilities to foster business and social environment. Silicon Oasis was also rated as one of the three happiest areas in Dubai to live according to a recent survey.
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Dubai Silicon Oasis – Mega Projects
Silicon Mall – Last year, Lulu Group, a leading retail giant in UAE announced a Dh 1 billion (US$ 270 M) ‘Silicon Mall‘ in Silicon Oasis. The project is expected to complete by 2020 ahead of EXPO and is estimated to have 300+ retail outlets, including cinema theatres and more than 50 Food and Beverage (F&B) outlets, leisure and entertainment facilities.
Silicon Park – DSOA announced Dh 1.3 billion (US$ 350 M) Silicon Park comprising of commercial, residential and retail space along with a 115-room hotel by Radisson RED. Silicon Park will use ‘green’ building material as well as solar panels and feature intelligent solutions, i.e. charging-docks for smart devices and a wide range of innovative applications and smart robotic technology solutions.
Fakeeh Medical Center – Conceptualized by Dr. Soliman Fakeeh Hospital (DSFH) of Saudi Arabia, Dh 1 billion (US$ 2.7 million) Fakeeh Medical Center will be the first Smart hospital in Dubai and UAE equipped with IT enabled patient rooms and medical university.
Investment Opportunities in Silicon Oasis
Being the most sought-after neighborhood in Dubailand combined with the strategic location of Silicon Oasis and sizable commercial and resident base provide upcoming businesses a great opportunity to invest in Silicon Oasis in various sectors such as education, Fitness, Healthcare & Wellness, HORECA (Hotel, Restaurants & Cafes), Retail, Innovation and Technology etc.
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