Union Properties PJSC

Ticker/ISIN

UPP

AEU000101011

Market/Country

Dubai Financial Market

United Arab Emirates

About Union Properties PJSC

Country of Origin: United Arab Emirates (U.A.E)

Union Properties Public Joint Stock Company (“the Company”) was incorporated on 28 October 1993 as a public joint stock company by a United Arab Emirates Ministerial decree.

The principal activities of the Company are investment in and development of properties, the management and maintenance of its own properties including the operation of cold stores, the undertaking of property related services on behalf of other parties (including related parties) and acting as the holding company of its subsidiaries and investing in joint ventures.

The Company and its subsidiaries are collectively referred to as “the Group”. All of the Group’s significant business and investment activities in land, properties, securities and financial derivatives are carried out within the UAE. The Group does not have significant foreign currency exposure towards land, properties, securities and financial derivatives.

Latest Pressrelease Summaries from Union Properties PJSC

Union Properties has launched its second major project, 'Mirdad,' in Dubai's Motor City. This development features four towers with luxurious lofts and stylish apartments designed to maximize natural light and functionality. Indoor amenities include a sports complex, gyms, spas, a community clubhouse, coworking spaces, a gaming zone, multipurpose halls, a kids' play area, a golf simulator, and an indoor cinema. Outdoor facilities offer two padel courts, a half Olympic lap pool, shaded play areas for children, pet parks, a tranquil garden, a lounge pool, a shaded children's pool, and a yoga lawn. Strategically located near future parks, a shopping mall, and the upcoming Al Maktoum International Airport, Mirdad is valued at AED 2 billion and represents Union Properties' ongoing expansion in premium residential communities in the UAE.

Disclosure: Press release

5 days ago

Union Properties PJSC reported strong financial results for the nine months ending September 30, 2025, with a profit of AED 139 million, a 162% increase from the previous year. Revenue grew by 32% to AED 513 million, supported by improved operational efficiency and subsidiary contributions. The company achieved AED 455 million in cash balances, the highest in years, and reduced its bank loans from AED 1.5 billion to AED 302 million, achieving a net positive cash position. Union Properties sold AED 2.7 billion in assets, strengthening its liquidity and balance sheet, with total assets at AED 4.5 billion and total equity at AED 3.3 billion. The company plans to launch a AED 2 billion development by the end of October 2025. Additionally, its subsidiary ServeU LLC acquired the Housekeeping Group for AED 100 million, adding AED 40 million in revenue and AED 4.8 million in net income in two months.

Disclosure: Financial statements for the 3rd QTR of 2025

7 days ago

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.

Disclosure: Press release regarding financial results for the … QTR of YYYY

7 days ago

ServeU, a subsidiary of Union Properties, has acquired House Keeping (LLC) and its subsidiaries in a deal worth AED 100 million. This acquisition aims to enhance ServeU's market position as a leading facilities management provider in the UAE. With over 8,900 employees, ServeU manages various properties, including residential, commercial, and government facilities. The acquisition is part of ServeU's strategy to improve operational capabilities and service quality. House Keeping, the UAE's second-largest provider in its segment, brings expertise and a strong client network, with significant revenues and EBITDA reported for 2024. Under the acquisition terms, House Keeping will maintain its brand identity but will be under ServeU's ownership and oversight. This move is expected to positively impact ServeU's financial performance.

Disclosure: Press release

3 months ago

Union Properties PJSC reported a 44% increase in gross profit for the first half of 2025, with total revenue rising to AED 316 million from AED 266 million in the same period in 2024. The company achieved AED 152.4 million in gross revenue for the second quarter, marking a 19% increase from the previous year, and a 77.84% rise in gross profit to AED 32.9 million. CEO Eng. Amer Khansaheb highlighted the company's progress in its transformation efforts and commitment to value creation. Despite increased overhead expenses due to early-stage real estate development and digital transformation investments, the company is focused on long-term growth. Union Properties plans to repay AED 150 million in bank debt, with AED 20 million already repaid and the remainder scheduled for Q3 2025. Additionally, the company signed a AED 700 million sale agreement for a real estate asset in Motor City.

Disclosure: Press release regarding financial results for the … QTR of YYYY

3 months ago

Union Properties PJSC reported a 44% increase in gross profit for the first half of 2025, with total revenue rising to AED 316 million from AED 266 million in the same period in 2024. The company also announced a 19% year-on-year increase in Q2 revenue to AED 152.4 million and a 77.84% rise in gross profit to AED 32.9 million, attributed to improved operational efficiency. CEO Eng. Amer Khansaheb highlighted the company's focus on long-term value creation and strategic investments in development and digital transformation. Despite an increase in overhead expenses due to early-stage development costs and digital upgrades, the company plans to repay AED 150 million in bank debt, with AED 20 million already repaid and AED 130 million scheduled for Q3 2025. Additionally, Union Properties signed a conditional AED 700 million sale agreement for a real estate asset in Motor City.

Disclosure: Press release

3 months ago

Union Properties PJSC has signed a conditional sale agreement worth AED 700 million for a real estate project in Motor City, UAE. This deal is a significant step in the company's strategic plan to resolve legacy debt and strengthen its financial position. Following record plot sales of AED 1.3 billion in 2024, this agreement is set to be reflected in the company's Q4 2025 financials. The project will enhance the Motor City community and is structured under a deferred payment plan, ensuring cash flow and financial stability. The proceeds from this sale will allow Union Properties to settle its outstanding debt, marking the end of its recovery strategy and enabling a shift towards sustainable growth and long-term value for shareholders.

Disclosure: Press release

3 months ago

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.

Disclosure: Press release regarding financial results for the … QTR 1 of 2025

6 months ago

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Dubai Financial Market News

News Update From Union Properties PJSC 3 months ago

Disclosure: Financial statements for the 2nd QTR of 2025

1. Attached Document

Dubai Financial Market News

News Update From Union Properties PJSC 3 months ago

Disclosure: Press release regarding financial results for the … QTR of YYYY

1. Attached Document

Dubai Financial Market News

News Update From Union Properties PJSC 3 months ago

Disclosure: Detailed Analysis Accumulated Losses

1. Attached Document

Dubai Financial Market News

News Update From Union Properties PJSC 3 months ago

Disclosure: Press release

Union Properties PJSC reported a 44% increase in gross profit for the first half of 2025, with total revenue rising to AED 316 million from AED 266 million in the same period in 2024. The company also announced a 19% year-on-year increase in Q2 revenue to AED 152.4 million and a 77.84% rise in gross profit to AED 32.9 million, attributed to improved operational efficiency. CEO Eng. Amer Khansaheb highlighted the company's focus on long-term value creation and strategic investments in development and digital transformation. Despite an increase in overhead expenses due to early-stage development costs and digital upgrades, the company plans to repay AED 150 million in bank debt, with AED 20 million already repaid and AED 130 million scheduled for Q3 2025. Additionally, Union Properties signed a conditional AED 700 million sale agreement for a real estate asset in Motor City.

1. Attached Document

Dubai Financial Market News

News Update From Union Properties PJSC 3 months ago

Disclosure: Results of BOD Meeting

1. Attached Document

Dubai Financial Market News

News Update From Union Properties PJSC 3 months ago

Disclosure: BOD meeting

1. Attached Document

Dubai Financial Market News

News Update From Union Properties PJSC 3 months ago

Disclosure: Press release