Page 58 - UP PR REPORT - February 2025

Dubai's Union Properties slashes debt

load to Dh575m

Developer makes progress in weaning itself off from troublesome legacy debts
Last updated: February 05, 2025 | 10:05
Manoj Nair (Business Editor)

2 MIN READ

Union Properties will tick of another key milestone in a comeback

journey if it brings debts down further by end March 2025.Virendra
Saklani/Gulf News

Dubai: The Dubai developer Union properties confirmed it has cut its legacy

debts totaling Dh1.47 billion (in 2022) to Dh575 million at the end of 2024.

And that it expects the debt load to be slashed further by a further Dh150
million by end March.

"Union Properties was able to reduce the margin on the 3-month EIBOR from

3.25% to 2.75% in light of growing trust among banks," said a statement.
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The developer, which recently launched an offplan project in Motor City, also
pulled in additional bank loans of Dh150 million to 'fund new investments it

intends to make in the coming 18 months'.

https://gulfnews.com/business/property/dubais-union-properties-slashes-debt-load-
todh575m-1.500029119