{
  "id": 17937661,
  "title": "Union Properties' nine-month revenue jumps 58% to Dh809.5 million",
  "url": "https://urgent.news/2026/11/03/union-properties-nine-month-revenue-jumps-58-to-dh809-5-million",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-03T08:21:56.000Z",
  "source": {
    "name": "Gulf News",
    "slug": "gulf-news",
    "url": "https://gulfnews.com/business/property/union-properties-nine-month-revenue-jumps-58-to-dh8095-million-1.500733942"
  },
  "original_language": "en",
  "account": "Dubai-based Union Properties reported a significant 58% increase in revenue for the first nine months of 2026, reaching Dh809.5 million. The company attributed this growth to improved operating performance and higher contributions from its subsidiaries. However, net profit for the same period declined sharply to Dh28 million, down from Dh139.2 million in the same period of 2025, largely due to the exclusion of a one-off gain of Dh152 million from the sale of a land plot. Despite this, the company's gross profit rose 61% to Dh156.7 million, reflecting enhanced performance across its operating businesses and effective cost management measures.\n\nThe company's development pipeline, valued at Dh4 billion, is expected to generate around Dh3.87 billion in future revenue by 2028. Key projects, such as Takaya and Mirdad, valued at Dh2 billion each, form part of Union Properties' strategy to expand its property portfolio and generate additional income. Chairman Sheikh Nasser Rashid Almoalla emphasized the company's focus on strengthening its financial position, expanding the development pipeline, and pursuing growth opportunities. Board Member and Vice Chairman Dr. Ali Rashed Sultan Al Kaitoob highlighted the company's emphasis on improving asset performance, enhancing operational efficiency across subsidiaries, and accelerating development project execution. Union Properties maintains a robust liquidity position and financial flexibility to support its development plans, although specific liquidity figures were not disclosed. The developer anticipates sustained revenue growth as it advances construction and development activities across Dubai.",
  "summary": "Dubai: Union Properties reported a 58% increase in revenue to Dh809.5 million for the first nine months of 2026, driven by stronger operating performance and higher contributions from subsidiaries, even as net profit fell sharply from a year earlier. The Dubai-listed developer posted a net profit of Dh28 million for the nine months ended September 30, compared with Dh139.2 million in the…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}