Union Properties board meet postponed due to lack of quorum

Dubai: Union Properties said on Thursday the board meet has been postponed to April 26.

The previous meeting on April 19 was cancelled due to lack of quorum, the company said in a statement posted on Dubai Financial Market’s website.

Union Properties reported 51 per cent fall in full year net profit for 2016 to Dh211.4 million. Revenues declined by more than a fifth to Dh1.13 billion. The company’s portfolio was valued at Dh6.09 billion. The group had liabilities of Dh291 million till December 2016.