Union Properties PJSC (UPP) News - Mubasher Info
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Union Properties PJSC (UPP)

Last update: 22 April 02:55 PM market time.
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Volume 60,298,097
Turnover 26,298,187.82
All data are 15 minutes late during market session

News

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2 April 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 …
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17 March 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 …
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26 February 12:30 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 …
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15 February 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 …
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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 …
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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 …
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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. …
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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 …
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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 …
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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 …
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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 …
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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 …
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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 …
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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 …
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27 March 2022 09:53 AM Union Properties turns to losses in 2021
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 …
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15 December 2021 02:15 PM Union Properties elects new Chairman, Vice Chairman
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, …
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22 November 2021 09:37 AM Union Properties records lower profits in 9M
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 …
The company has formed a team of international experts
24 October 2021 10:02 AM Union Properties' unit files AED 3.5bn arbitration claims
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 …
The project's first phase is expected to be completed in August 2024
26 September 2021 10:11 AM Union Properties inks agreement to develop Motor City Hills
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 …
The shopping centre was sold to one of the real estate developers in Dubai
22 September 2021 10:09 AM Union Properties inks AED 420m MoU to sell shopping centre
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 …
Expo 2020 Dubai is scheduled to open in October
5 September 2021 09:37 AM Union Properties' unit wins AED 18m contracts to manage Expo 2020 pavilions
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 …
Union Properties recorded a profit of AED 32.4 million in six months
15 August 2021 01:29 PM Union Properties turns profitable in H1-21
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 …
The developer commented on the news published in the media
19 May 2021 03:50 PM Union Properties denies conversion into private joint-stock company
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 …
The basic and diluted EPS stood at AED 0.0013
16 May 2021 10:39 AM Union Properties turns to profitability in Q1-21
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 …
The board has also proposed share buyback
22 March 2021 11:58 AM Union Properties' board proposes 3.5% bonus shares for 2020
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 …