RTA is starting the tendering of the Union Oasis project to developers and investors from the private sector, and is inviting them to complete the prequalification requirements
The Roads and Transport Authority (RTA) is starting the tendering of the Union Oasis project to developers and investors from the private sector, and is inviting them to complete the prequalification requirements on September 2015. Work is currently underway in revising the Project Manual along with the bidding conditions for selecting the best partners to align them with the Law No (22) for 2015 governing the Public Private Partnership in the Emirate of Dubai.
“The Project Manual, which had been released to investors and developers last March, is currently being revised. This Guide contains comprehensive information about the Union Oasis project which comprises the construction of towers above the Union Square Metro Station spanning an area of about 15 thousand square meters,” said Abdullah Yousef Al Ali, CEO of RTA Rail Agency.
“Comments and views of investors have been taken into consideration and acted upon in carrying out the revision of the Manual, along with the standards and conditions set for selecting the best partners to undertake the project in the light of the new Law. The new law stipulates the conditions of partnership, basis of selecting the partner, company qualification procedures, specifications & conditions of accepting and assessing proposals. The RTA has uploaded the revisions to the project manual and bidding conditions on the Project’s webpage in RTA’s portal.
“The RTA is availing investors the opportunity of drawing up alternative architectural designs compatible with the approved architectural vision of the project including its phased construction. According to the new law, the agreement will be valid for 30 years in addition to 3 years as a grace period for completing construction works along with other facilities.
It is worth mentioning that the Union Oasis Project is the first manifestation of Transit-Oriented Development (TOD) concept in the region to attract Dubai’s residents and visitors. This vital project focuses on developing the Union Square by providing an exquisite environment including residential units, offices, vital utilities, retail outlets, among others. The RTA will follow the world’s practices in the project as per the Public-Private Partnership model, which will contribute to invigorating Deira. More info