Dubai's Roads and Transport Authority (RTA) has recently issued pre-qualification documents for the Union Oasis mixed-use PPP project.
The project will involve, among others, the development of a two mixed-use towers (between 20 and 30 floors high) being constructed above the Union metro station on an area spanning 15,000 m². It focuses on developing the Union Square by providing residential units, offices, pedestrian-friendly streets, landscapes, vital utilities and retail outlets among others.
The preferred bidder will enter into a concession agreement for a period of 30 years in addition to three years as a grace period for completing construction works.
The Union Oasis mixed-use PPP project is the first manifestation of Transit-Oriented Development (TOD) concept in the region; which promises to be a prominent destination for residents and visitors of Dubai. TODs helps to increase the use of public transport by developing communities surrounding the mass transit modes.
Interested parties must submit the solicited documents by December 3 this year. The selected bidders will then have to submit a final proposal by April 2016. The preferred bidder is expected to be selected by May 2016.