DUBAI — Union Properties announced plans to repay Dh130 million in bank debt during the third quarter of 2025, continuing its strategy to reduce long-standing liabilities. The repayment follows a partial payment of Dh20 million made before the end of Q2, with the remaining amount deferred due to cash flow timing.
The Dubai-based developer also reported a 44% rise in gross profit for the first half of 2025, reaching Dh75.6 million, up from Dh52.6 million in H1 2024. However, net profit dropped to Dh14.5 million from Dh34.7 million over the same period, attributed to early-stage investments in infrastructure and development activities.
In a statement, the company highlighted a significant upcoming asset sale, a conditional Dh700 million deal for a property in Motor City. The transaction is expected to be recorded in Q4 2025.
“We are pleased to report another quarter of meaningful progress in our transformation,” said Amer Khansaheb, CEO of Union Properties. “These results reflect the strength of our operations and long-term strategy. While upfront costs have impacted short-term profitability, we are confident in the growth outlook ahead.”
Union Properties, listed on the Dubai Financial Market (DFM), is currently focusing on strengthening its balance sheet, scaling development operations, and investing in digital transformation as part of its turnaround plan.
