Union Oasis: Prequalification of bidders begins

The Roads and Transport Authority (RTA) has started the prequalification for potential developers and investors interested in bidding for the construction of Union Oasis project.

The conditions stipulate bidders must have experience, will, and resources to undertake and accomplish the project in line with the provisions of the Law No 22 for 2015 governing the Public-Private Partnership (PPP) in Dubai.

“RTA has opened the door for receiving requests for prequalification of developers and investors interested in the project, who can still submit their requests up to December 3 this year in order to offer them a sufficient time to fulfill the requirements at the highest standards and procedures stipulated,” said Abdul Mohsen Ibrahim Younes, CEO of RTA’s Rail Agency.

RTA will hold individual meetings with developers this month to discuss the prequalification and the outlines of the tender. The prequalification documents along with the project information kit can be obtained either through downloading from RTA website (www.rta.ae), or via e-mail request to: (unionoasis@rta.ae),” he continued.

“RTA would be flexible in dealing with private developer with regards partial postponement of the land rental payment to make it proportional to the occupation rates during the first seven years. The private developer is no longer required to pay the land rental during the construction process,” said Mohsen.

The project has direct links with Metro, buses, marine transit means and taxis. It also allows the gradual development of the project, setting a 30-year agreement period, and offering a 3-year grace period for construction works among other concessions. RTA will also be flexible with developers and investors in developing new design techniques or models for this project with the aim of maximizing the profitability rate.

It is anticipated that a private developer will enter in a concession agreement with RTA, being the proprietor of the site, where the developer will be responsible for designing, building, financing, managing, and operating this multi-use project. The developer will be entitled to utilise the income generated from all commercial processes of all project components. In return, RTA will receive a return against the utilisation of land.