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5/12/25, 10:05 AM Union Properties slashes more debt, eyes new projects after strong Q1
Union Properties slashes more debt, eyes new projects after strong Q1

Developer trims Dh179m debt in Q1, eyes new launches after Dh1.3b land sale boost

Last updated: May 08, 2025 | 17:35
Justin Varghese, Your Money Editor
2 MIN READ

Union Properties's financial and operational performance has been on the mend, culminating in the launch of a residential project at its Motor City community.
Virendra Saklani/Gulf News
Dubai: Union Properties is picking up the pace on its turnaround playbook—posting double-digit revenue growth, slashing legacy debt, and laying the groundwork for a more aggressive
return to project launches in Dubai’s competitive real estate space.
In Q1 2025, Union Properties continued efforts to return to financial health and operational momentum with revenue rising by 18.2% year-on-year to Dh163 million, while gross profit
climbed 25.3% to Dh42.8 million—both boosted by stronger demand, improved efficiency, and contributions from high-performing subsidiaries.
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Alongside its earnings, the Dubai-based developer also confirmed the repayment of Dh179 million in legacy bank debt in the first quarter, with another Dh159 million due for repayment in
Q2. The company had already settled Dh723 million in debt in 2024. According to Union Properties, the ongoing deleveraging forms part of a broader financial restructuring strategy aimed
at improving long-term liquidity and profitability.
In a statement accompanying the results, CEO and board member Eng. Amer Khansaheb said: “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.”

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