Dubai – Mubasher: Union Properties does not plan to reduce its capital, the Dubai Financial Market (DFM) listed company stated in a bourse statement on Monday, denying some reports circulating on social media.

All important decisions shall be approved by the company’s ordinary general meeting (OGM) under the applicable regulations, including the restructuring of the capital or any similar decision, Union Properties revealed.

The UAE-based developer reported a net loss of AED 2.3 billion during 2017.