Page 20 - UNION PROPERTIES PR REPORT - November 2023

11/3/23, 1:28 PM Dubai's Union Properties reports $5m profit for Q3 | AGBI

Dubai’s Union Properties reports $5m

profit for Q3

By Gavin Gibbon November 2, 2023

Reuters/Steve Crisp

In the year to September more than 27,000 residential units are estimated to have been delivered in Dubai

Gross profit up 113% on Q3 2022

Demand in residential sector stays strong

27,000 units delivered in year to September

The Dubai developer Union Properties (UP) has reported a net profit of AED20 million ($5.45
million) for the third quarter of the year, backed by continued strong demand in the emirate’s real
estate sector.

UP, best known for its Motor City development in Dubai, transformed a AED966 million net loss in
2021 to a AED30 million net profit last year.

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