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7/30/25, 1:04 PM Union Properties completes repayment of its legacy debts | AGBI
Union Properties completes repayment of its legacy debts

By Pramod Kumar July 28, 2025, 12:27 PM

Union Properties
Union Properties CEO and board member Amer Khansaheb. The Dubai-listed company is due to receive $191m from an asset sale later this year that it will use to pay off legacy debt

$191m due from asset sale
Company listed in 2000

Q1 profit down 64

Dubai-listed Union Properties will sell a real estate project in the MotorCity master development to settle all its legacy debts through a multi-year recovery strategy.

The developer is set to receive AED700 million ($191 million) from the sale of an unnamed asset, which is expected to be recognised in the financials for the fourth quarter
of 2025, the company said in a bourse statement.
“With this transition, we bring our recovery plan to a close, settle all legacy debts,” said CEO Amer Khansaheb.
Last year Union Properties raised AED1.3 billion from asset sales, repaying AED966 million to lenders.

The developer and its subsidiaries had undertaken an asset divestment strategy, initially presented to shareholders in 2022, to meet debt settlement agreements reached in
2023.

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