Union Properties (UP) has restarted talks with Dubai International Financial Centre (DIFC) for selling 200,000 to 300,000 square foot of space in its Index Tower, the company's chairman told Emirates Business.
"We have a new management and have resumed talks with DIFC. They needed assurances about the project's completion and handover, which we can share with them," said Chairman Khalid bin Kalban.
He did not disclose the value of the deal.
The developer is expecting to hand over Limestone House and Index Tower in DIFC between March and May. Kalban said there was increasing demand for space in Index Tower with current investors looking to buy more space. He ruled out plans to sell the land bank to raise money. "We are undertaking a feasibility study for our land close to DIFC and it looks promising."
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