Union Properties Achieves Financial Milestone
Union Properties PJSC reports significant financial growth and strategic advancements in 2025.
Summary
Union Properties PJSC has reported a remarkable financial turnaround with increased profits, reduced debt, and strategic investments, positioning itself for future growth.
Union Properties PJSC, a leading real estate developer based in the United Arab Emirates, has announced a significant financial turnaround for the nine months ending September 2025. The company reported a profit of AED 139 million, a 162% increase compared to AED 53 million during the same period in 2024. This impressive growth highlights the company's operational efficiency and strategic focus on strengthening its financial position.
Revenue for Union Properties increased by 32% to AED 513 million, driven by improved operational efficiency and higher contributions from its subsidiaries. This growth trajectory underscores the company's commitment to enhancing its revenue streams and optimizing its operations.
One of the most notable achievements for Union Properties is the substantial reduction of its legacy debt. The company successfully decreased its bank loans from approximately AED 1.5 billion to AED 302 million, effectively eliminating a long-standing financial burden. This strategic move, along with disciplined cost control and strengthened collections, has resulted in a net positive cash position for the first time in recent history.
In addition to debt reduction, Union Properties achieved AED 2.7 billion in asset sales, significantly boosting its liquidity and balance sheet strength. The company's total assets have reached AED 4.5 billion, while total equity has increased to AED 3.3 billion following a successful share capital reduction that extinguished accumulated losses and restored positive retained earnings.
Looking ahead, Union Properties is poised for further growth with the planned launch of a landmark AED 2 billion development by the end of October 2025. This strategic investment reflects the company's confidence in Dubai's thriving real estate market and its commitment to long-term value creation.
Moreover, Union Properties' subsidiary, ServeU LLC, recently acquired the Housekeeping Group for AED 100 million. This acquisition contributed AED 40 million in revenue and AED 4.8 million in net income within just two months, expanding the group's workforce to 17,000 employees and showcasing its scale and diversity.
Given the company's strong financial position, strategic investments, and operational efficiency, investors may consider holding their positions in Union Properties. While the company has demonstrated significant progress, it is essential to monitor its future developments and market conditions to make informed investment decisions.
Source
Summary
Union Properties PJSC reported strong financial results for the nine months ending September 30, 2025, with a profit increase of 162% to AED 139 million and a revenue increase of 32% to AED 513 million compared to the same period in 2024. The company achieved a significant milestone with AED 455 million in cash balances, marking its strongest liquidity position in years. It also reduced its bank loans from AED 1.5 billion to AED 302 million, achieving a net positive cash position for the first time in recent history. Union Properties sold AED 2.7 billion in assets and expects to collect AED 721 million in receivables by December 2026, bolstering its financial foundation. Total assets reached AED 4.5 billion, and total equity increased to AED 3.3 billion after a share capital reduction. The company plans to launch a AED 2 billion development by the end of October 2025. Additionally, Union Properties' subsidiary ServeU LLC acquired Housekeeping Group for AED 100 million, adding AED 40 million in revenue and AED 4.8 million in net income in two months, and expanding the workforce to 17,000 employees.
