The compliance of the prequalification documents regarding the design, construction, financing, operation, and maintenance of the Union Oasis project has been extended until February 28 according to Dubai Roads and Transport Authority (RTA).
Alongside the deadline reconsideration, RTA has included wide-ranging financial improvements to the investment package and will provide a minimum revenue guarantee to the chosen developer which are based on extensive market observation, and deliberation of the commercial ethics.
Therefore, the private developer will not be obliged to recompense fixed-base sum against investing in the project in accordance with given situations and requirements.
Union Oasis indicates RTA’s venture into public-private partnership (PPP) projects. Previously designed as a public park, the project features facilities for leisure, residential apartments, commercial areas, retail stores with green parts.
The new facility will be near the metro station served by both red and green lines, and is advertised as the Dubai’s first Transit-Oriented Development (TOD), because it will connect all types of transport in the city.
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