Dubai’s Union Properties sells Dh500m in land disposal, has offers for Dh1b more

By Staff Reporter

These funds, plus potentially another Dh1b, will help with turnaround

Union Properties is getting some serious funds flowing through as it disposes off non-core land assets.

The Dubai developer has already sold over Dh500 million worth of these asets, marking a ‘significant milestone’ in the turnaround strategy. “This achievement highlights Union Properties’ strategic vision, robust market positioning and commitment to maximising shareholder value,” said a statement.

Just as important, the company is sifting through offers valued at Dh1.2 billion for other land disposals.

“The company has capitalised on productive opportunities in the Dubai real estate market to achieve this milestone,” said the statement.