Dubai developer Union Properties is to seek board approval to increase the percentage of shares which foreign investors are allowed to hold in the company, its chairman said on Wednesday.
The move is part of a
Shares of Dubai property developer Union Properties, in which lender Emirates NBD holds a major stake, surged 11 percent in massive trading volume on Sunday - a fresh sign of growing optimism toward the emirate's real estate.
Dubai-listed real estate developer Union Properties reported a 36 percent rise in second-quarter net profit on Sunday, boosted by income from liabilities settlements with contractors.
UP made a net profit of 113.26 million dirhams
Dubai Autodrome, a motorsport venue has appointed Richard Birch as the new general manager, in place of Hamish Brown who left the company last month.
Birch has been with the company since 2006 and brings a wealth of experience in
Dubai developer Union Properties reported a 2.2 per cent drop in first-quarter net profit on Wednesday due to a slump in housing sales.
The Dubai-listed firm made a first quarter net profit of Dh21.9 million ($5.96 million), it sa
Dubai's Union Properties received shareholder's approval plans to extend a Dh400 million ($108.9 million) loan from Abu Dhabi Commercial Bank by another five years, the company said on Sunday.
The extension of the loan unt
Indebted developer Union Properties posted a quarterly profit on Monday, sending its shares higher, as it cut debt and said it would focus on building mid-size development projects.
The company had second-quarter n
Union Properties, Dubai's struggling real estate developer, on Thursday said its full-year net loss widened as property values continue to drop in the emirate.
The company, which recently transferred a major portion of its assets to a
Dubai's Union Properties has reached a Dh3.8 billion ($1.03 billion) debt deal with major shareholder Emirates NBD, the developer's chief executive told Al-Bayan newspaper on Wednesday.
The real estate firm will transfer assets worth