Dubai-Mubasher: Union Properties’ (UP) board will be considering a decision by circulation to hold the ordinary general meeting (OGM) on 18 August, according to a bourse statement.

The shareholders will discuss, during their OGM, Oia project financing.

UP signed an AED 290 million finance facility for the construction of Oia Residence which will cost a total of AED 450 million.

The shareholders will also consider authorising the board with new powers, as well as adopting amendments to the articles of association.