Mirdad Tower 2 brings high-rise living and integrated amenities to the expanding Mirdad development
Union Properties
Latest in Union Properties
Dubai Motor City
Dubai real estate: Union Properties breaks ground on $544m Mirdad development in Motor City
Union Properties launches construction of its $544m Mirdad project in Dubai Motor City, featuring four towers and 1,087 units
Dubai
Union Properties breaks ground on its $540mn Mirdad project
Located in the heart of Dubai Motor City, it will have four towers and comprise 1,087 units with several modern amenities
acquisition
Union Properties subsidiary acquires House Keeping for $27.23mn
Acquired company had revenues of $60.2mn and an EBITDA of $5.83mn for the fiscal year 2024
Dubai
Union Properties resolves legacy debt with new Motor City sale
This was achieved after signing a conditional sale agreement valued at $190.6 million for a real estate project in Motor City
Dubai real estate
Union Properties revenue up 18.2%; repays $48.75mn of legacy debt
Revenue increases 18.2% to reach $44.4mn; Gross profit up 25.3% to $44.4mn; Will repay an additional $43.3mn debt this quarter
Dubai
Union Properties continues its turnaround with a strong FY 2024
The company’s current assets now exceed its current liabilities – by $154.1mn – for the first time in many years
Union Properties
Dubai real estate: Union Properties reduces legacy debt and secures new funding
Debt down from $400 million in FY2022 to $156.5 million in FY2024; Company says it will announce two new projects soon
Dubai
Union Properties breaks ground on ‘Takaya’ in Dubai Motor City
The $540 million project will have three residential towers with 788 units, apart from penthouses, townhouses, and villas
Dubai
Union Properties’ 9M profits up 43.2% to $14.43mn
The company plans to launch projects worth $1.63 billion in the next 18 months, says CEO Amer Khansaheb
Dubai Motor City
Dubai real estate: Union Properties announces $544m Takaya development in Motor City
Union Properties unveils $544m Takaya development in Dubai Motor City
Debt restructuring
Union Properties repays $78.9mn of debt in the first quarter
The real estate company intends to repay AED966 million to lenders during FY2024 as part of its debt restructuring plan
Dubai
Union Properties raises $136.1mn with sale of land
The company is in the process of studying additional offers on its assets worth more than $330 million in cash sale
Real Estate
Union Properties reports net profit of AED 12.3 million in Q1, 2023
The company made a net loss of AED 12.5 million during the same period last year
Dubai
Dubai Motor City to see new $436mn project, Takaya
First launch by Union Properties since its debt restructuring, its last project was launched in 2015
Debt restructuring
Dubai’s Union Properties agrees to $162 million debt restructuring plan
The plan comes as part of a wider corporate turnaround strategy
Dubai real estate market
Union Properties gives update on its turnaround strategy following fraud
At the property firm’s AGM it was also given authority to file and follow up on legal proceedings against previous board members following ‘widespread fraud’
