Dubai-based developer expects to add AED600m in revenues from the sale of homes
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.
Do these analysts have names ? Once UP announces its third quarter results we will know which one is closer to reality and which one not to take seriously. I will not be surprised if both were to qualify for the later category.