Dubai – Mubasher: Union Properties has posted a net profit of AED 207.4 million during the first six months of 2018.

The fair valuation of investment properties has generated AED 120.7 million in profits for the Dubai-listed developer, according to a bourse statement released on Tuesday.

Meanwhile, direct costs dropped 63% to AED 181.2 million in H1-18 versus AED 488 million in the comparative period of 2017.

Basic and diluted earnings per share (EPS) registered AED 0.048.

Union Properties recorded a net loss of AED 2.3 billion in the full year of 2017.