Dubai Property Developer to Issue Dividend After Over a Decade

Union Properties has successfully rebounded from significant financial difficulties experienced in 2021-2022, which included allegations of fraud and mismanagement. The real estate developer, known for projects like MotorCity and Green Community, was forced to restructure and stabilize its finances following an investigation into financial irregularities. This led to a change in leadership and the implementation of a multi-year recovery plan.

The company's 2025 audited results reveal a substantial improvement in financial performance. Revenues surged to Dh736.9 million, a 39.4% increase from the previous year. Operating profit also climbed to Dh240.7 million, and cash reserves reached Dh494.2 million, the strongest liquidity position in recent years. As a result, the Board of Directors has proposed a cash dividend of Dh3 fils per share, the first since 2015, signaling a shift towards shareholder returns.

Union Properties also advanced its development pipeline with the launch of Mirdad, a major residential community in Motor City, a Dh2 billion project. The company is now focused on sustained expansion and value creation, with a clearer financial footing and a focus on execution. The proposed dividend reflects the company's improved liquidity, reduced debt, and enhanced profitability, allowing it to balance growth investments with shareholder returns.