Company Insights Union Properties Real Estate Union Properties Overview Union Properties is a real estate development company that listed on the Dubai Financial Market in 1993. Best known for its Motor City development in Dubai, Union Properties’ other projects include Dubai Autodrome and The Index apartment and office building in Dubai. In 2018 Union Properties sold its 50 percent stake in Emirates District Cooling, or Emicool, to Dubai Investment for AED500 million. Proceeds of the sale went towards restructuring the debts of the company. It also bought a stake in the Egyptian Palm Hills Company in 2019. In 2022 Union Properties launched a turnaround strategy and comprehensive restructuring. Later that year it said had completed a $162 million debt restructuring, including a $60.7 million repayment to lenders. The following year the company announced it had returned to the black, recording AED30 million ($8.1 million) in net profit. Union Properties News Real Estate Union Properties to repay $263m debt in 2024 Union Properties plans to repay AED966 million ($263 million) to lenders in 2024 as part of its debt restructuring plan. The developer, which trades on the Dubai Financial Market, has repaid AED290 million ($78.96 million) worth of debts as a result of AED816 million generated from plot sales in the first quarter of 2024. The […] April 3, 2024 Posts navigation
Real Estate Union Properties to repay $263m debt in 2024 Union Properties plans to repay AED966 million ($263 million) to lenders in 2024 as part of its debt restructuring plan. The developer, which trades on the Dubai Financial Market, has repaid AED290 million ($78.96 million) worth of debts as a result of AED816 million generated from plot sales in the first quarter of 2024. The […] April 3, 2024
