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Union Properties, listed on the Dubai Financial Market, has confirmed that it currently has a portfolio of projects under development valued at AED 4 billion, with these projects expected to achieve AED 3.87 billion in future revenue by 2028.
The company said in a statement on the results of the third quarter 2026, that this portfolio provides a base for growth over the coming years, expecting to support the company’s ability to generate revenues in the future, in addition to enabling it to seize the opportunities available in the Dubai real estate market.
She explained that the company’s development portfolio includes the Tekaya mixed-use project worth nearly two billion dirhams, the Mirdad project worth two billion dirhams, in addition to its diversified portfolio of assets and operational activities, noting that these projects are part of the company’s strategy to enhance its capabilities in the field of real estate development, diversify future revenue sources, and increase long-term value.
The company’s development portfolio includes the AED 2 billion Takaya mixed-use project and the 2 billion Mirdad project
The company said it is continuing to implement a development strategy that aims to enhance the clarity of the future vision of revenue, control costs and support sustainable growth in the coming years, in addition to maintaining strong levels of liquidity and financial flexibility to employ capital in a disciplined approach.
It is noteworthy that the profits of "Union Real Estate" had decreased by 80% by the end of the first nine months of 2026, compared to the same period in 2025, and the company's profits amounted to 28.06 million dirhams at the end of the first nine months 2026, compared to profits of 139.23 million dirhams at the end of the first nine months 2025, according to the company's financial statements.
The company also made a profit from the sale of real estate investments held for sale worth AED 152 million during the first nine months of 2025, for nothing during the first nine months of 2026.
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