Dubai, United Arab Emirates – Al Ittihad Properties announced.M.The company, listed on the Dubai Financial Market under the symbol UPP, today announced its financial results for the second quarter of 2025, which showed continued momentum in the company’s transformation process, and remarkable progress in key operational and financial performance indicators.
The company achieved an annual growth of 19% in total revenues, which amounted to 152.4 million UAE dirhams during the second quarter of 2025, compared to 128 million dirhams during the same period in 2024. The company recorded total profits of AED 32.9 million, an increase of 77.84% compared to the same period last year, reflecting improved operational efficiency and enhanced profit margins.
During the first half of this year, Al Ittihad Properties recorded total revenues of 316 million UAE dirhams, compared to 266 million dirhams during the same period in 2024. Total profits also increased by 44% to reach 75.6 million dirhams, compared to 52.6 million dirhams during the same period last year.
Eng. Aamir Khansahib, CEO and Board Member of Etihad Properties, said: “We are pleased to announce the results of a new quarter during which we have made further tangible progress in the transformation process we are witnessing. The financial results for the first half of this year reflect the strength of our operational foundations and our continued commitment to creating long-term value. As we continue to invest to expand our development projects and digitize our operations, we expect the financial implications of these strategic steps to become clearer in the coming period.”
The company explained that its operating expenses increased during the first half of 2025, mainly due to two main factors:
1.The nature of the early stage of the real estate development project cycle, where costs are initially borne, while revenues begin to flow gradually over the next three years.
2.Intensive investment in digital transformation, with the aim of bridging old technological gaps and modernizing systems at the group level to enhance their readiness for future growth.
As part of the company’s debt restructuring plan, Etihad Properties announced its intention to repay bank debts worth 150 million dirhams during the second quarter of this year. Of these, 20 million dirhams were paid before the end of this quarter, with the remaining 130 million dirhams to be completed during the third quarter, coinciding with the timing of cash collections scheduled after the end of the quarter.
One of the most notable strategic achievements during the second quarter was the signing of a conditional sales agreement worth AED 700 million for a prominent real estate project in the Motor City area. This deal is expected to be included in the financial results for the fourth quarter of 2025, which represents a pivotal step within the framework of the company’s strategy aimed at making the most of its land portfolio and enhancing the strength of its balance sheet.
Net profit during the second quarter of 2025 amounted to about 8.74 million UAE dirhams, recording a decrease compared to the same period last year, and this decline is attributed to pumping investments into development and infrastructure modernization activities. It is noteworthy that financial costs declined to reach 14.28 million dirhams in the first half of 2025, compared to 15 million dirhams during the same period in 2024.
The Real Estate Union continues its commitment to implementing development projects worth more than 5 billion dirhams, and achieving sustainable value for its shareholders through optimal use of capital, diversifying sources of income, and enhancing operational efficiency.
