Page 14 - UP PR REPORT - MAY 2025

5/12/25, 10:09 AM Union Properties revenue up 18.2%; repays $48.75mn of legacy debt - Arabian Business: Latest News on the Middle East, Real E…
Union Properties revenue up 18.2%;

repays $48.75mn of legacy debt

Revenue increases 18.2% to reach $44.4mn; Gross profit up

25.3% to $44.4mn; Will repay an additional $43.3mn debt this
quarter

Amer Khansaheb, Chief Executive Officer and Board Member at Union Properties PJSC

Union Properties continued to restructure its financials, posting strong numbers for the first quarter of 2025, during
which it also repaid AED179 million (US$48.75 million) of debt.

In Q1 2025, Union Properties announced an 18.2 per cent increase in revenue, reaching AED163 million

(US$44.4 million), compared to AED138 million (US$37.6 million) in Q1 2024.

Enhanced operational efficiency and sustained demand led to gross profit increasing to AED42.8 million
(US$11.65 million), a 25.3 per cent growth compared to AED34 million in the same period last year.

The Dubai-based real estate developer said the revenue growth is expected to continue, supported by strategic
initiatives and project launches, with “significant increases” anticipated each quarter.

The company continues to advance its financial restructuring strategy, targeting enhanced flexibility and long-term
sustainability. During the quarter, Union Properties reduced its bank debt by AED179 million (US$48.75 million)
and plans to pay an additional AED159 million (US$43.3 million) during the second quarter.

These repayments build on the AED723 million (US$197 million) successfully settled in 2024.

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