Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Union Properties Posts First-Half Profit as It Cuts Debt

Union Properties PJSC, a Dubai-based developer, posted a first-half profit as it reduces debt and sees improvement in the emirate’s real-estate market.

The profit was 106 million dirhams for the six months ended June 30 after a loss of 439 million dirhams a year earlier, the company said in a statement to the Dubai stock market today. Revenue declined to 1 billion dirhams from 2.25 billion dirhams last year when the company gained from the sale of Index Tower and Limestone House in the Dubai International Financial Centre.

“With the real-estate sector on the path of recovery, together with improved economic indicators in Dubai and the United Arab Emirates, Union Properties is currently evaluating various mid-sized development projects offering shorter turnaround times and reasonable profitability and incremental cash inflows,” according to the statement.

The company repaid more than 200 million dirhams after June 30, it said. The total consolidated bank debt was 3.8 billion dirhams at the end of second quarter, compared with 6.2 billion dirhams in the same period last year.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.