Dubai – Mubasher: Union Properties recorded lower net profits at AED 14.56 million in the first half (H1) of 2025, compared to AED 34.77 million a year earlier.

Revenue from contracts jumped to AED 315.66 million at the end of June 2025 from AED 265.78 million in H1-24, according to the financial results.

Basic and diluted earnings per share (EPS) increased to AED 0.0034 in H1-25 from AED 0.0081 in H1-24.

During the second quarter (Q2) of 2025, the DFM-listed company reported AED 152.40 million in gross revenue, up 19% year-on-year (YoY) from AED 128 million.

Gross profit surged by 77.84% YoY to AED 32.90 million, reflecting improved operational efficiency and margin recovery.

Amer Khansaheb, CEO of Union Properties, commented: “While we continue to invest in scaling up our development business and digitizing our operations, the financial impact of these strategic steps will unfold over the coming quarters.”

Sale Seal

A key strategic highlight of Q2, Union Properties signed a conditional sale agreement worth AED 700 million for a major real estate asset in Motor City.

This landmark transaction is expected to be financially recognized in Q4-25 and forms a cornerstone of the company’s strategy to unlock value from its land bank and strengthen its balance sheet.

As of 31 March 2025, the revenues hiked by 18.20% YoY to AED 163 million from AED 138 million.