Page 23 - UP PR REPORT - APRIL 2026

4/9/26, 10:20 AM Union Properties Approves First Dividend in 11 Years as AGM Meets Quorum
The approval is seen as a key step in restoring market confidence, as the company
transitions toward a more stable and performance-driven phase.

New board elected to guide next phase

During the AGM, shareholders also elected a new Board of Directors for a three-

year term. The board includes:

Shaikh Nasser Rashid Almoalla Mohamed Fardan Al Fardan Amer Abdulaziz
Khansaheb Ahmed Salem Alhosani Ahmad Bin Mohammad Al Qassimi Khaled
Nasser Al Shamsi Rana Abdelkarim Shashaa

The newly appointed board is expected to play a central role in advancing the
company’s governance framework and supporting its long-term growth strategy.

Chairman Mohamed Fardan Ali Al Fardan highlighted the company’s improved
financial performance, with revenue rising 39.4% year-on-year to $200.7 million
(AED 736.9 million), compared to $144.0 million (AED 528.7 million) in 2024.

Operating profit increased to $65.5 million (AED 240.7 million), up from $44.0
million (AED 161.8 million), while cash reserves reached $134.5 million (AED
494.2 million), reflecting a strengthened liquidity position.

The results underscore a period of operational recovery, supported by improved

cost management, asset optimisation, and a more disciplined financial approach.

Strategic shift toward long-term value

Chief executive Amer Khansaheb said the dividend approval reflects progress
made over recent years and marks the beginning of a new phase focused on
financial discipline and sustainable returns.

The outcomes of the AGM highlight a broader strategic shift, with increased
emphasis on governance, profitability, and consistent shareholder returns.

As Union Properties moves into this next phase, the company appears positioned
to rebuild investor trust while aligning its operations with evolving market
expectations in Dubai’s real estate sector.

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