Dubai Developer to Repay Bank Debt by Q3 2025
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Union Properties reported a 44% surge in gross profits for the first half of 2025, reaching Dh75.6 million compared to Dh52.6 million the previous year. However, net profit for H1-2025 decreased to Dh14.5 million from Dh34.7 million in H1-2024, attributed to investments in development activities and infrastructure upgrades. The company is prioritizing the repayment of legacy debts.
In Q2-2025, Union Properties announced plans to repay Dh150 million in bank debt, but only Dh20 million was repaid before the quarter's end. The remaining Dh130 million is scheduled for repayment in Q3-2025 due to the timing of cash receipts. A significant development is the conditional sale agreement for a real estate asset in Motor City, valued at Dh700 million, expected to be recognized in Q4-2025.
CEO Amer Khansaheb expressed satisfaction with the progress, highlighting the strength of operating fundamentals and commitment to long-term value creation. He noted that the financial impact of strategic investments in development and digitalization will be realized in the coming quarters.
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