Page 18 - UP PR REPORT - MAY 2025

5/12/25, 10:09 AM Union Properties Reports Strong Q1 2025 Results with 18.2% Revenue Growth and AED 179 Million Debt Repayment

Union Properties Reports Strong Q1 2025 Results With 18.2%

Revenue Growth And AED 179 Million Debt Repayment

Union Properties PJSC (DFM: UPP) has reported a solid performance for the first quarter of 2025, recording an 18.2% year-on-
year increase in revenue, reaching AED 163 million compared to AED 138 million in Q1 2024. This growth reflects the
company’s strategic focus on operational efficiency, project development, and financial restructuring.

Gross profit for Q1 2025 reached AED 42.8 million, up 25.3% from AED 34 million in the same period last year. The
improvement is attributed to increased demand and enhanced operational effectiveness across the company’s real estate and
development operations, driven by its high-performing subsidiaries.

As part of its ongoing financial restructuring strategy, Union Properties reduced its bank debt by AED 179 million in Q1 2025 and
aims to repay an additional AED 159 million in Q2. These repayments follow the AED 723 million successfully settled in 2024,
underscoring the company’s commitment to financial discipline and long-term sustainability.

Commenting on the results, Eng. Amer Khansaheb, Chief Executive Officer and Board Member of Union Properties PJSC,
stated:
“Union Properties has entered 2025 with strong momentum, underpinned by a robust first quarter that reinforces the strength of
our business model and the trust of our stakeholders. Our solid growth in revenue and profitability—alongside strategic debt
management, highlights the effectiveness of our long-term strategic roadmap. By actively advancing new project launches and
realising value through strategic asset optimisation, we are creating a dynamic platform for sustainable growth.”

He added that the company is well-positioned to capitalize on emerging opportunities in the UAE’s vibrant real estate sector and
support Dubai’s ambitions to become a leading global investment hub.

Union Properties continues to prioritize strategic deleveraging, consistent revenue growth, and the launch of new development
projects. The company noted a rise in administrative expenses tied to marketing and sales initiatives for its upcoming projects,
indicating a proactive approach to boosting visibility and attracting investors.

With a balanced and forward-thinking strategy, Union Properties is also exploring new avenues to enhance liquidity and
maximize asset utilization, aiming to maintain financial agility in a competitive market landscape.

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