Union Properties PJSC (UPP)

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News

6 August 10:13 PM Union Properties’ ServeU acquires House Keeping in AED 100m deal

Dubai – Mubasher: Union Properties, through its subsidiary the facilities management (FM) solutions provider ServeU, has carried out a strategic acquisition of House Keeping and House Keeping Domestic Workers, including their subsidiary. The deal …

Real estate

31 July 05:19 AM Union Properties unveils higher revenues in H1-25, AED 700m sales deal

Dubai – Mubasher: Union Properties recorded lower net profits at AED 14.56 million in the first half (H1) of 2025, compared to AED 34.77 million a year earlier. Revenue from contracts jumped to AED 315.66 million at the end of June 2025 from AED …

Real estate

12 May 07:22 PM Union Properties enters 2025 with strong financial performance; revenues jump 18% in Q1-25

Dubai – Mubasher: Union Properties began 2025 with positive financial performance, generating an annual increase of 18.20% in revenue to AED 163 million as of 31 March 2025, when compared with AED 138 million. Gross profit jumped by 25.30% to AED …

Financial Results

17 February 01:28 PM Union Properties sees growth in 2024 operating profit; new projects unveiled

Dubai – Mubasher: Union Properties witnessed lower net profits at AED 275.63 million in 2024, compared to AED 837.61 million in 2023, according to the financial statements. Basic and diluted earnings per share (EPS) dropped to AED 0.06 last year …

Real estate

12 February 11:27 PM Union Properties reduces legacy debt, targets another AED 150m cut by Q1-25

Dubai – Mubasher: Union Properties has achieved a significant milestone in its recovery plan by reducing its legacy debt of AED 1.47 billion as of 2022 to AED 575 million as of the end of December 2024. The company also plans for an additional …

Companies Investments

28 January 12:54 PM Union Properties sells AED 1.3bn plot sales

Dubai – Mubasher: Union Properties has sold more than AED 1.30 billion worth of plots since the announcement of its five-year turnaround strategy in April 2023, according to a press release. This significant milestone anchors the company’s growth …

Companies Investments

23 December 2024 11:33 AM Union Properties breaks ground on AED 2bn Takaya project

Dubai – Mubasher: Union Properties broke ground for its AED 2 billion project in Dubai’s Motor City community, according to a press release. The Takaya project marks a crucial turning point in the evolution of the company’s ambitious portfolio. …

Real estate

27 October 2024 10:24 AM Union Properties announces solid financial performance in 9M-24, AED 6bn projects

Dubai – Mubasher: Union Properties generated net profits valued at AED 53 million in the third quarter (Q3) of 2024, according to the financial results. The strong performance reflects the company’s effective strategic planning and efficient cost …

Financial Results

10 October 2024 00:04 PM Union Properties launches new development project in Dubai

Dubai – Mubasher: Union Properties has officially launched its new Takaya project in Dubai Motor City, setting a new standard in the mid-to-high range segment, according to a press release. The Takaya project aims to enhance the offerings provided …

Real estate

4 August 2024 09:17 AM Union Properties doubles profits in H1-24 financial results

Dubai – Mubasher: Union Properties logged net profits valued at AED 34.77 million in the first half (H1) of 2024, doubling its profits compared to AED 17.71 million in H1-23. Revenues from contracts with customers hiked year-on-year (YoY) to AED …

Financial Results

15 May 2024 00:30 PM Union Properties logs AED 16.5m net profits in Q1-24

Dubai – Mubasher: Union Properties generated net profits after tax worth AED 16.47 million in the first quarter (Q1) of 2024, up year-on-year (YoY) from AED 12.29 million. Revenues from contracts with customers jumped to AED 138.11 million in …

Real estate

2 April 2024 02:01 PM Union Properties achieves AED 816m plot sales in Q1-24

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 …

Companies Investments

17 March 2024 02:37 PM Union Properties incurs AED 2.1bn accumulated losses

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 …

Real estate

26 February 2024 00:30 PM Union Properties earns AED 500m from land sale

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 …

Companies Investments

15 February 2024 04:27 PM Union Properties generates AED 811m profits in 2023

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 …

Real estate

2 November 2023 01:11 PM Union Properties records growth in 9M-23 financials; revenues up 19%

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 …

Financial Results

27 July 2023 00:10 PM Union Properties turns to nearly AED 18m profits in H1-23

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 …

Real estate

11 May 2023 11:24 AM Union Properties swings to profits in Q1-23; accumulated losses announced

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. …

Financial Results

13 March 2023 00:14 PM Union Properties reports AED 2.9bn accumulated losses in 2022 profitable 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 …

Financial Results

14 February 2023 03:53 PM Union Properties turns profitable in 2022 preliminary results

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 …

Financial Results

8 December 2022 02:42 PM Union Properties to launch AED 1.6bn development project in Dubai

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 …

Real estate

1 November 2022 05:29 PM Union Properties shifts to losses in 9M-22; accumulated losses hit AED 2.93bn

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 …

Financial Results

18 October 2022 11:46 PM Union Properties restructures AED 595m debt

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 …

Companies Investments

7 August 2022 03:45 PM Union Properties turns to AED 12m losses in H1-22; accumulated losses unveiled

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 …

Financial Results

15 May 2022 00:02 PM Union Properties turns to losses in Q1-22

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 …

Real estate