Union Coop to float tenders for UAQ mixed-use project
Municipality of Umm Al Quwain approved the project plan last month
Union Coop will begin seeking tenders in July for a two-storey, 191,742sqft mixed-use project in Umm Al Quwain. The Umm Al Quwain Coop Project will be located in the Al Salma 3 area of the emirate, near the Fruit and Vegetable market, opposite Sheikh Khalifa Hospital.
According to a statement, soil examination and topographic inspection work is underway at the site and the final drawings of the project are expected to be completed by April 28. Construction on the project is likely to begin in August and is expected to be complete by October 2020.
Union Coop CEO Khalid Humaid Bin Diban Al Falasi said the IPO of the project was completed last February, followed by the selection of the consultant through a tender in May.
“The drawing strictures of the land have been adjusted in line with the interest of the project as a whole, with changes like increase in height of the building to become a basement, ground floor and two floors instead of earlier plan of just basement, ground and first, thereby increasing the construction area by 33%,” said Al Falasi.
18 engineering consulting firms took part in the bidding process, out of which ‘Future Art Engineering Consultancy’ was given the $11m contract to design and supervise the construction works.
“This also included the approval to change the use of the first floor from commercial, to the use of both first and second floors as residential in order to fullfil the needs of the area and to maximize the ROI for the shareholders,” he added.
The project will feature 15 shops, a hypermarket, along with 70 residential apartments distributed between the first and second floor. The basement and a part of the ground floor will be allocated to parking areas.
