Page 78 - UP PR REPORT - February 2025

2/6/25, 10:52 AM Dubai's Union Properties slashes debt load toDh575m

Dubai's Union Properties slashes debt load

toDh575m

1d • 1 min read

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1972 ▼ -0.91%

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'.

"These investments are expected to generate an annual recurring income of approximately Dh40 million," it
added.

The UP stock is trading at Dh0.43, a brisk 0.69% spike in early DFM trade.

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