Latest Threads on News from companies

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.

Sukoon Insurance PJSC has announced the resignation of its CEO, Jean-Louis Laurent Josi, after seven years of leadership. Since joining in 2018, Josi has significantly transformed the company, enhancing customer service, operational resilience, and financial strength. Under his leadership, Sukoon achieved consistent growth and rebranded itself. Badr Al Ghurair, Chairman of the Sukoon Board, praised Josi's commitment to innovation and excellence. Hammad Khan, currently the Chief Financial Officer and Executive Vice President, has been appointed as Interim CEO. Khan has over 25 years of experience and has been with Sukoon since 2018. The company expressed gratitude for Josi's contributions and wished him success in his future endeavors.

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.

Sukoon Insurance PJSC announced the resignation of Jean-Louis Laurent Josi as CEO, which has been accepted and approved by the Board of Directors. The Board has appointed Chief Financial Officer Hammad Khan to manage the company's daily operations as Interim CEO until a new CEO is appointed, pending approval from the Central Bank of the UAE. The Board will collaborate with the Central Bank to approve the new successor. The announcement was communicated by Badr Al Ghurair, Chairman of the Board of Directors, with a copy sent to Maryam Butti Al Suwaidi, Deputy CEO of the Securities and Commodities Authority in Abu Dhabi, UAE.

On 30 July 2025, Amlak Finance PJSC's Board of Directors made decisions by circulation regarding routine internal matters. This information was communicated to Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market, by Lama Takieddin, Head of Corporate Governance and Company Secretary. The Securities & Commodities Authority was also copied on this correspondence.