New PPP law requires updating of project manual
Dubais Roads and Transport Authority (RTA) aims to complete prequalifying investors and developers for the 15,000 square metre mixed-use development above the Union Square metro station by end September.
Union Square is where the Dubai Metros red and green line meet. It is located in Deira and is one of the busiest stations of the metro. It is also close to Dubai creek and has connections with water taxis and local buses.
While the scheme has always been conceived as public-private partnership (PPP) project, the tendering process, which begun in 2013, has been significantly delayed.
According to the RTA, work is underway to revise the project manual along with the bidding conditions to align with the emirates new PPP law approved in August.
The project manual predated the law. It was released to interested investors and developers in March and has to be revised.
Comments and views of investors have been considered for the revision.
The new law stipulates the the conditions of partnership, basis of selecting the partner, company qualification procedures, specifications and conditions of accepting and assessing proposals.
The project, called Union Oasis, is modelled as a transit-oriented development (TOD), a concept intended to maximise the area surrounding transport hubs, with an aim of increasing usage of the nearby trains, metros and buses.
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