Page 92 - UNION PROPERTIES GENERAL REPORT - April 2024_Neat

4/4/24, 12:42 PM Union Properties achieves $222.34mln plot sales in Q1-24

Panoramic view of the downtown Dubai city skyline and business park at sunset, United Arab Emirates. Getty Images
EARNINGS
Union Properties achieves $222.34mln plot

sales in Q1-24

The DFM-listed company is set to repay an additional $68.11mln in Q2-24,
marking a significant milestone in its debt restructuring plan agreed with local
banks

Staff Writer, Mubasher

April 3, 2024

Dubai – Union Properties recorded robust asset sales and cash flow generation during

the first quarter (Q1) of 2024, according to a press release.

During the three-month period that ended on 31 March 2024, the company successfully

closed AED 816 million in plot sales and used the proceeds to repay AED 290 million to its

lenders.

https://www.zawya.com/en/markets/equities/union-properties-achieves-22234mln-plot-sales-in-q1-24-p3c699t4 1/3