Union Properties PJSC (UPP)

Dubai – Mubasher: Union Properties recorded robust asset sales and cash flow generation during the first quarter (Q1) of 2024, according to a press release. During the three-month period that ended on 31 March 2024, the company successfully closed …

Dubai – Mubasher: The accumulated losses of Union Properties reached AED 2.10 billion at the end of the fourth quarter (Q4) of 2023, accounting for 49.08% of the firm’s capital. The losses are mainly attributed to a fair value loss of AED 2.07 …

Dubai – Mubasher: Union Properties sold over AED 500 million worth of land, which reflects a significant milestone in the company’s turnaround strategy. This aligns with the company’s strategy to maximise shareholder value and capitalise on …

Dubai – Mubasher: Union Properties logged net profits standing at AED 811 million in 2023, marking an annual growth of 60% in operating profits and 2,607% in net profits. The company’s subsidiaries also witnessed solid performance, with revenues …

Dubai – Mubasher: Union Properties achieved net profits worth AED 37.40 million in the first nine months (9M) of 2023, against net losses valued at AED 11.40 million in 9M-22. The revenues rose by 19% year-on-year (YoY) to AED 365 million as of 30 …

Dubai – Mubasher: Union Properties shifted to net profits amounting to AED 17.71 million in the first half (H1) of 2023, against net losses worth AED 12.19 million in H1-22. The revenues hit AED 240.84 million in H1-23, marking a year-on-year …

Dubai – Mubasher: Union Properties turned profitable at AED 12.29 million in the first quarter (Q1) of 2023. The registered profits were against net losses valued at AED 12.48 million in Q1-22, according to the consolidated interim results. …

Dubai – Mubasher: Union Properties registered accumulated losses worth AED 2.90 billion as of 31 December 2022, representing 67.63% of its capital, according to a bourse disclosure. The real estate developer turned profitable at AED 29.97 million …

Dubai – Mubasher: Union Properties shifted to net profits worth AED 29.97 million in 2022, against net losses of AED 966.75 million in 2021. Revenues amounted to AED 419.18 million in 2022, higher by 5.10% year-on-year (YoY) than AED 398.69 …

Dubai – Mubasher: Union Properties will launch its mixed-use development project Takaya at a value of nearly AED 1.60 billion, according to a press release. Takaya, which is Union Properties’ first development since 2015, comes in line with the …

Dubai – Mubasher: Union Properties turned to net losses worth AED 11.37 million in the first nine months (9M) of 2022, against net profits of AED 1.36 million in the year-ago period. Revenues from contracts with customers jumped to AED 305.69 …

Dubai – Mubasher: Union Properties has successfully completed an AED 595 million debt restructuring, including the repayment of AED 223 million to lenders, according to a press release. The restructuring plan comes in line with the property …

Dubai – Mubasher: Union Properties has incurred net losses worth AED 12.19 million during the first half (H1) of 2022, compared to net profits of AED 32.38 million in H1-21. The basic and diluted loss per share stood at AED 0.0028 in the first six …

Dubai – Mubasher: Union Properties has incurred net losses of AED 12.48 million in the first quarter (Q1) of 2022, against net profits of AED 5.55 million in Q1-21, according to the company's unaudited consolidated financials. The company's …

Dubai – Mubasher: Union Properties has logged net losses of AED 966.75 million in 2021, against net profits of AED 200.98 million in 2020, according to the company's consolidated financials for the year ended 31 December 2021. The real estate …

Dubai – Mubasher: The board of Union Properties has elected Mohamed Fardan Ali Al Fardan as the company's Chairman and Abdul Wahab Al Halabi as the Vice-Chairman. The company has also appointed Amer Abdulaziz Khansaheb as a Managing Director, …

Dubai – Mubasher: Union Properties reported a decline in net profits to AED 1.369 million during the first nine months of 2021, compared to AED 348.779 million in the year-ago period, according to the company's unaudited consolidated financials …

Dubai – Mubasher: The total value of arbitration claims filed by one of Union Properties' subsidiaries has reached around AED 3.5 billion. The arbitral tribunal is expected to issue its decisions on a number of the claims in the second quarter …

Dubai – Mubasher: Union Properties has entered into an investment agreement with AQUA Properties to launch Motor City Hills in Motor City. The region's first of its kind project includes 415 three-story townhouse villas with an area of up to 3,000 …

Dubai – Mubasher: Union Properties has signed an AED 420 million Memorandum of Understanding (MoU) to exit from the ownership of a shopping centre under construction in Motor City. The shopping centre was sold to one of the real estate developers …

Dubai – Mubasher: ServeU, a subsidiary of Union Properties, has won AED 18 million contracts to manage the facilities of 14 pavilions participating at Expo 2020 Dubai, scheduled to open in October. Under the contracts, the company will meet the …

Dubai – Mubasher: Union Properties turned profitable in the first half (H1) of the year, registering a net profit of AED 32.4 million in H1-21, versus losses of AED 160.4 million in the same period of 2020. The improvement in the real estate …

Dubai – Mubasher: Union Properties has denied the presence of any intention or study to transform the company into a private joint-stock company. The developer commented on the news published in the media related to the statements by one of the …

Dubai – Mubasher: Union Properties has achieved net profits of AED 5.553 million in the first quarter (Q1) of 2021, against net losses of AED 121.868 million in Q1-20, according to the company's unaudited interim consolidated financial statements …

Dubai – Mubasher: The board of Union Properties has recommended distributing bonus shares, equivalent to 3.5% of the capital, for 2020. During their meeting, the board has also proposed share buyback at a rate not exceeding 10% of the issued …