Union Properties continued to restructure its financials, posting strong numbers for the first quarter of 2025, during which it also repaid AED179 million (US$48.75 million) of debt.
In Q1 2025, Union Properties announced an 18.2 per cent increase in revenue, reaching AED163 million (US$44.4 million), compared to AED138 million (US$37.6 million) in Q1 2024.
Enhanced operational efficiency and sustained demand led to gross profit increasing to AED42.8 million (US$11.65 million), a 25.3 per cent growth compared to AED34 million in the same period last year.
The Dubai-based real estate developer said the revenue growth is expected to continue, supported by strategic initiatives and project launches, with “significant increases” anticipated each quarter.
The company continues to advance its financial restructuring strategy, targeting enhanced flexibility and long-term sustainability. During the quarter, Union Properties reduced its bank debt by AED179 million (US$48.75 million) and plans to pay an additional AED159 million (US$43.3 million) during the second quarter.
These repayments build on the AED723 million (US$197 million) successfully settled in 2024.
Amer Khansaheb, Chief Executive Officer and Board Member at Union Properties, commented: “Union Properties has entered 2025 with strong momentum, underpinned by a robust first quarter that reinforces the strength of our business model and the trust of our stakeholders.
“Our solid growth in revenue and profitability – alongside strategic debt management – highlights the effectiveness of our long-term strategic roadmap.
“By actively advancing new project launches and realising value through strategic asset optimisation, we are creating a dynamic platform for sustainable growth. As we look ahead, Union Properties is exceptionally well-positioned to seize emerging opportunities in the UAE’s thriving Real Estate sector.”
In a filing with Dubai Financial Market (DFM), the company said it “is strategically focused on strengthening its financial position. The company continues to demonstrate significant progress by actively deleveraging its legacy debt, launching new development projects, and achieving consistent revenue growth, reflecting a balanced and forward-looking strategy”.
As part of this approach, Union Properties is actively exploring opportunities to increase liquidity and maximise asset utilisation, reinforcing its ability to stay financially agile and resilient.
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