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

To contact the editor responsible for this story: Claudia Maedler at

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.