Union Properties has reported a net profit of Dh28 million for the first nine months of 2026, marking a significant decline from the Dh139.2 million recorded during the same period last year. This dip is largely attributed to a tough year-over-year comparison, as the previous year’s figures were bolstered by a one-off Dh152 million gain from a land sale. Despite the lower bottom line, the company’s operational health appears robust, with revenue surging 58 percent to Dh809.5 million and gross profit climbing 61 percent to Dh156.7 million, signaling improved cost management and stronger contributions from its various subsidiaries.

Looking ahead, the developer is doubling down on an ambitious growth strategy, supported by a development pipeline worth approximately Dh4 billion. Key projects such as the Dh2 billion Takaya mixed-use development and the Dh2 billion Mirdad project are set to drive revenue through 2028. Chairman Sheikh Nasser Rashid Almoalla emphasized that the company remains dedicated to long-term sustainable growth and enhancing shareholder value, while leadership continues to focus on project execution and maintaining a solid liquidity position to capitalize on future real estate opportunities in Dubai.