Page 23 - UNION PROPERTIES PR REPORT - November 2023

This was driven by a 19 per cent year-over-year increase in revenue, rising

from Dh306 million to Dh365 million in Q3 2023. Additionally, the gross profit

witnessed a substantial YoY increase of 55 per cent, growing from Dh50
million to Dh77 million in Q3 2023.

Ads by
In the third quarter of this year, the group's subsidiaries also displayed

impressive performance, contributing to a rise in revenue from contracts with

customers to Dh124 million, up from Dh101 million in Q3 2022. The gross

profit for the period surged by 113 per cent to reach Dh31 million, compared
to Dh14.7 million during the same period last year.

“We are proud of the remarkable performance showcased by Union

Properties and its subsidiaries in Q3 2023,” said Engineer Amer Khansaheb,

Board Member and Managing Director of Union Properties. “As Dubai’s Real
Estate market continues its growth trajectory, we are reinforcing our

commitment to maintaining a leading position and ensuring constant positive

growth.”

“This achievement underscores the effectiveness of our strategic approaches,
fortifying our confidence in future prospects,” he added.

We are poised to leverage our capacity for crafting

dynamic business strategies and effectively meeting

the evolving demands of our customers.

https://gulfnews.com/business/property/union-properties-records-net-profit-of-dh20-million-in-q3-
2023-1.1698908145138