Union Properties PJSC Reports Record Cash Balances Amidst Strong Financial Performance
Union Properties PJSC has released its financial results for the nine months ending September 2025, showcasing a significant improvement in its financial standing.
Summary
Union Properties PJSC has achieved a remarkable increase in profits and revenue for the first nine months of 2025, with significant debt reduction and asset sales contributing to its strong financial position.
Union Properties PJSC (DFM: UPP) has announced its financial results for the nine months ended September 30, 2025, reporting a profit of AED 139 million, a 162% increase from AED 53 million in the same period in 2024. Revenue increased by 32% to AED 513 million, driven by operational efficiency and higher contributions from subsidiaries.
The company achieved a major milestone with cash and bank balances reaching AED 455 million, the highest in many years, and successfully completed the full repayment of its legacy debt, reducing bank loans from approximately AED 1.5 billion to AED 302 million. This has resulted in a net positive cash position for the first time in recent history.
Union Properties has also achieved AED 2.7 billion in asset sales, significantly strengthening its liquidity and balance sheet. Total assets reached AED 4.5 billion, while total equity increased to AED 3.3 billion following a successful share capital reduction.
| KPI | 2025 | 2024 | Change (%) |
|---|---|---|---|
| Revenue | AED 513 million | AED 389 million | 32% |
| Operating Income | AED 139 million | AED 53 million | 162% |
| Net Income | AED 139 million | AED 53 million | 162% |
| Earnings per Share | N/A | N/A | N/A |
| Debt Ratio | Reduced from AED 1.5 billion to AED 302 million | N/A | N/A |
| Interest Coverage Ratio | N/A | N/A | N/A |
The company's strategic investments and disciplined project execution continue to build momentum. A landmark AED 2 billion development is set to launch by the end of October 2025, reinforcing confidence in Dubai’s thriving real estate market.
Conclusion: Union Properties PJSC's latest financial results showcase a significant turnaround, with strong profits, reduced debt, and strategic asset sales. The company's robust cash position and planned developments indicate a positive outlook for investors, suggesting potential for long-term growth and value creation in the thriving Dubai real estate market.
