Union Properties Profit Falls To Dh28m As Last Year's One-Off Gain Lifts Comparison

Union Properties Profit Falls To Dh28m As Last Year's One-Off Gain Lifts Comparison

MENAFN- Khaleej Times) Union Properties reported a net profit of Dh28 million for the first nine months of 2026, down from Dh139.2 million in the corresponding period last year, when earnings were boosted by a one-off gain from the sale of a plot valued at Dh152 million.

The Dubai-listed developer's revenue, however, increased 58 per cent year-on-year to Dh809.5 million for the nine months ended September 30, supported by stronger operational performance, higher contributions from subsidiaries and continued execution across its business portfolio.

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Gross profit rose 61 per cent to Dh156.7 million, compared with Dh97.5 million in the same period last year, reflecting improved operational efficiency, cost management and stronger underlying business performance.

The results build on the momentum recorded during the first half of 2026, when revenue increased 68 per cent year-on-year to Dh529.3 million, while gross profit grew 41 per cent to Dh107 million.

Sheikh Nasser Rashid Almoalla, chairman of Union Properties, s...