Roads and Transport Authority (RTA) welcomes potential investors and developer for the structure of Dubai’s first transit oriented development, the Union Oasis project.
The provisions for selecting competent bidders must possess experience, determination and resources to carry out and fulfill the project in compliance with the provisions of the law prevailing public-private partnerships (PPP) in Dubai.
According to the CEO of RTA ‘s rail agency, Abdul Mohsen Ibrahim Younes, RTA has started receiving requests for prequalification of investors and developers interested in the project. They can submit their requests until 3 December 2015 so as to offer them enough time to complete the necessities.
Individual meeting will be held to talk about the prequalification and summary of the tender. Prequalification documents and project information kit can be downloaded from RTA website or can be requested through e-mail.
The agreement is for 30 years period and grants three years to fulfill the construction works. RTA will be open in developing latest design practices or models for this project with investors and developers with the intention to heighten the profitability rate.
It is approximated that a private developer will come in a concession arrangement with RTA , being the administrator of the location, whereas the developer will be in charge for managing, building, planning, designing, financing and operating this project.
The developer will be given the right to use the income made from all commercial processes of all project elements, whereas RTA will be given a return against the operation of the land.
Union Oasis, which was previously a public park, will proffer mixed development that will contain entertaining facilities and green areas, commercial as well as retail shops and residential apartments.