Union Properties PJSC reported a strong financial performance for the first quarter of 2025, with an 18.2% increase in revenue, reaching AED 163 million compared to AED 138 million in the same period of 2024. The company also saw a 25.3% rise in gross profit, amounting to AED 42.8 million, driven by improved operational efficiency and sustained demand. Union Properties continues its financial restructuring efforts, reducing its bank debt by AED 179 million in Q1 2025 and planning to pay down an additional AED 159 million in Q2 2025. This follows the settlement of AED 723 million in 2024, demonstrating the company's commitment to disciplined financial management and long-term sustainability. CEO Eng. Amer Khansaheb highlighted the strong start to 2025 as evidence of the effectiveness of their strategic initiatives and business model.

Union Properties PJSC announced the outcomes of its Annual General Meeting, where a special resolution was approved to reduce the company's total issued share capital by 33.4% to address accumulated losses of approximately AED 1.43 billion. This was achieved by utilizing the full statutory reserve to offset AED 437.95 million of these losses. The meeting highlighted the company's focus on sustainable growth and shareholder value, with Chairman Mohamed Fardan Ali AlFardan discussing the company's financial performance. Union Properties reported an operating profit of AED 161.8 million, a 59% increase, and a total comprehensive income of AED 395 million. Revenue from customer contracts rose to AED 528.7 million, reflecting the company's ongoing operational performance and strategic growth.

The text is a disclosure regarding the approval of proxies, based on Clauses 1 and 2 of Article 40 of the Corporate Governance Manual. It informs shareholders that they can delegate someone, who is not a board member or company employee, to attend the general assembly on their behalf. The delegated person must have a written authorization stating their right to attend and vote, and they cannot represent more than 5% of the company's issued capital. Shareholders lacking legal capacity must be represented by their legal representatives. The shareholder's signature on the power of attorney must be approved by specific entities such as a notary public, a chamber of commerce, a licensed bank or company, financial markets, or any licensed entity for attestation. The proxy form should include the contact details of the shareholder and the brokerage firm that approved the proxy.