Dubai, United Arab Emirates – Union Properties PJSC, listed on the Dubai Financial Market (DFM) under the symbol UPP, has signed a conditional sale agreement worth AED 700 million for a prominent real estate project in Motor City. This is a significant step in the company’s strategic roadmap, crowning the success of its recovery plan aimed at settling accumulated debt and strengthening its long-term financial strength.
This agreement follows record land sales of AED 1.3 billion in 2024, as part of a comprehensive debt restructuring strategy. The deal is expected to be included in the company’s financial results in the fourth quarter of this year. This real estate project will contribute significantly to the continued development of Motor City, one of Dubai’s most prominent integrated communities. The agreement’s structure is based on a deferred payment system, reinforcing Union Properties’ disciplined financial approach after the initial payment has been made. This provides greater clarity on cash flows and contributes to further improving the balance sheet structure.
Upon completion, the proceeds from this agreement will enable the company to fully repay its accumulated debt, a step that culminates a multi-year recovery strategy. This achievement paves the way for the company to transition to a new phase of sustainable growth, strategic capital deployment, and long-term value creation for its shareholders.
“This transaction goes beyond a mere sale. It is a message that reflects the company’s strength and the confidence it enjoys. Through it, we conclude our recovery plan, repay all accumulated debts, and lay the foundations for a new and ambitious phase in the company’s journey,” said Eng. Amer Khansaheb, CEO and Board Member of Union Properties. “This achievement reflects the market’s confidence in our vision and highlights the team’s competence and discipline in implementing one of the most successful transformation strategies in the sector. Today, we seek to move forward steadily from a position of strength, focusing on strategic development, creating long-term value, and making a sustainable impact on the UAE’s real estate landscape.”
With this strategic move, Union Properties reaffirms its commitment to developing projects that focus on enhancing value and meeting market needs, contributing to improving the quality of life in communities and supporting Dubai’s comprehensive urban and development goals. As the company continues to implement its strategic objectives, this historic deal reflects its flexibility and responsiveness, enhancing its competitiveness in the real estate market.
