Dubai’s Union Properties Falls Most in 6 Months as Developer’s Loss Widens

Union Properties PJSC (UPP) dropped the most in six months after the Dubai-based real-estate developer said its full-year loss widened.

The shares fell 7.9 percent, the most since Aug. 7, to 29 fils at 10:11 a.m. in Dubai.

The loss was 1.57 billion dirhams ($427 million) compared with 1.53 billion dirhams a year earlier. Total assets declined to 9.1 billion dirhams at the end of last year from 14.9 billion dirhams a year earlier.

To contact the reporter on this story: Shaji Mathew in Dubai at shajimathew@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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