Union Properties inks $190mln deal for key real estate project
This marks a pivotal milestone in the company's strategic roadmap, effectively concluding its comprehensive recovery plan which was designed to resolve all legacy debt settlements and restore long-term financial strength.
Building on a record AED1.3 billion ($354 million) in plot sales achieved in 2024 as part of its comprehensive debt restructuring strategy, this latest agreement is expected to be recognized in the company's Q4 2025 financials.
The Dubai developer said the real estate project will contribute meaningfully to the continued evolution of MotorCity, one of Dubai's most established communities.
Structured under a deferred payment framework, the agreement further reinforces Union Properties' disciplined financial approach, with the initial deposit already secured, ensuring strong cash flow visibility and continued balance sheet optimization, it stated.
Upon completion, the proceeds will enable Union Properties to fully settle its legacy debt, marking the culmination of a multi-year recovery strategy.
This milestone positions the company to pivot decisively toward a new phase of sustainable growth, strategic capital deployment, and long-term value creation for its shareholders.
Engineer Amer Khansaheb, the CEO and Board Member of Union Properties, said: "This transaction is more than a sale - it is a signal of strength. With this transition, we bring our recovery plan to a close, settle all legacy debts, and lay the foundation for a bold new chapter."
"This milestone reflects not only the trust and confidence of the market in our vision, but also the resilience and discipline of our team in executing one of the most successful turnaround strategies in the sector. Today, we build from a position of strength, focused on strategic development, long-term value creation, and a sustainable impact across the UAE's Real Estate landscape," he added.
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