Union Properties sees $82m operating profit in 2010

Dubai-based developer expects to add AED600m in revenues from the sale of homes
Union Properties sees $82m operating profit in 2010
UNION BOSS: Union Properties chairman Khalid Bin Kalban (ITP Images)
By Reuters
Sun 07 Nov 2010 12:16 PM

Dubai-based Union Properties

expects to make an operating profit of AED300m ($81.70m) in 2010, and add AED600m in

revenues from the sale of homes, its chairman said.

Khalid Bin Kalban told UAE daily Al Khaleej newspaper in

remarks carried on Sunday, the property developer has completed

two projects - Index and Limestone - in Dubai and is starting

to hand over units to buyers.

Two analysts polled by Reuters in October forecast a third

quarter net profit for the developer of AED52m and a

loss of AED42m respectively.

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