Page 24 - UP PR REPORT - OCTOBER 2025

11/4/25, 10:02 AM Union Properties Achieves Strongest Financial Position With AED 455 Million Cash Balance
As part of its recovery strategy, the firm completed AED 2.7 billion in asset sales, strengthening liquidity
and balance sheet health. It now holds AED 455 million in cash and expects to collect an additional AED

721 million in receivables by December 2026. Total assets reached AED 4.5 billion, while total equity rose
to AED 3.3 billion following a successful share capital reduction that erased accumulated losses and

restored positive retained earnings.

These results demonstrate reduced leverage and improved financial strength. Moving forward, the
company plans to launch a landmark AED 2 billion development by the end of October 2025. This

initiative reinforces confidence in Dubai’s thriving property sector and its focus on long-term value
creation.

Earlier in 2025, through its subsidiary ServeU LLC, the company acquired the Housekeeping Group for
AED 100 million. The acquisition contributed AED 40 million in revenue and AED 4.8 million in net

income within just two months. Additionally, it expanded the Group’s workforce to 17,000 employees
representing 60 nationalities, reflecting its scale and diversity.

Long-Term Vision and Strategic Direction

The organization is preparing a 15-year rapid growth plan aimed at unlocking shareholder value,
diversifying revenue streams, and enhancing recurring income across core and new business lines. With

a strong balance sheet, record liquidity, and a robust development pipeline, it is well-positioned to seize
upcoming market opportunities.

Eng. Amer Khansaheb, Chief Executive Officer and Board Member, said: “The exceptional Q3 results
highlight our ongoing financial transformation, which has laid the foundation for long-term sustainable

growth. Through meticulous strategies and a highly disciplined approach, we have successfully repaid all
legacy debt, achieving record cash balances and strong profits. Moving forward, we will remain

committed to advancing our AED 6 billion development pipeline, while upholding operational excellence
and continuing to create unparalleled value for our shareholders.”

With strong corporate governance, financial discipline, and a forward-looking strategy, the company

continues to reinforce its leadership position and pave the way for sustainable, profitable growth in the
years ahead.

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