Union Properties Announces Dh2 Billion Residential Project in Dubai

Jul 24, 2026

53 min

Jul 24, 2026 06:31

Union Properties plans Dh2 billion Dubai home community after 68% revenue jump

## New Residential Development

Union Properties is set to launch a Dh2 billion residential community in Dubai. This development will include 167 townhouses, villas, and bungalows. The project is currently undergoing approval processes.

## Financial Growth

The company reported a 68% increase in revenue for the first half of 2026, reaching Dh529.3 million, up from Dh316 million in the same period last year. Gross profit also rose by 41% to Dh107 million.

## Project Pipeline

Union Properties has a project pipeline valued at approximately Dh4 billion. The company expects to recognize Dh3.87 billion in development revenue through 2028, providing a stable outlook for future earnings.

## Ongoing Projects

Construction is ongoing at the Takaya and Mirdad developments. The company's in-house contractor, Tetra Edge, is managing these projects to ensure efficiency and profitability.

## Financial Position

The developer maintained cash balances exceeding Dh400 million in the first half of the year, supporting its construction and expansion plans. This financial stability marks a shift from restructuring to growth, driven by a robust development pipeline and improved liquidity.

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