Union Properties plans Dh2 billion Dubai home community after 68% revenue jump

Dubai: Union Properties is progressing plans for a new Dh2 billion residential community as the Dubai developer moves ahead with an approximately Dh4 billion project pipeline following a 68% increase in first-half revenue.

The planned master development will comprise about 167 townhouses, villas and bungalows and is currently going through the approval and permitting process.

Union Properties said Dh3.87 billion in potential development revenue remains to be recognised through the end of 2028, giving the company multi-year visibility over earnings from its expanding project portfolio.

Revenue reaches Dh529 million

Revenue for the first six months of 2026 increased to Dh529.3 million, compared with Dh316 million during the same period last year.

Gross profit rose 41% to Dh107 million from Dh75.6 million, supported by higher revenue, operating efficiencies and continued project execution.

Second-quarter revenue increased 69% year-on-year to Dh257.8 million, compared with Dh152.4 million in the corresponding period of 2025. Gross profit reached Dh48.6 million during the quarter.

The developer recognised Dh101.6 million in development revenue during the first half, leaving the bulk of its current project pipeline to flow through its financial results over the next two and a half years.

Dh4 billion pipeline supports growth

Union Properties expects development revenue to account for a greater share of its financial performance as work progresses across its portfolio.

Construction is continuing at its Takaya and Mirdad developments, while its in-house contracting business, Tetra Edge, is being used to manage execution and project margins.

Eng. Amer Khansaheb, Chief Executive Officer and Board Member of Union Properties, said, “Through disciplined execution, we have strengthened our balance sheet, enhanced operational efficiency and built a high-quality development pipeline that is now translating into tangible financial results.”

Cash balances exceed Dh400 million

Union Properties maintained average cash balances of more than Dh400 million during the first half, providing funds for construction, project launches and further expansion while retaining a prudent capital structure.

The results mark the developer’s move from financial restructuring towards a growth phase supported by its development pipeline, improved liquidity and higher project activity.

Management said it will continue to focus on accelerating project delivery, expanding the company’s portfolio and increasing revenue and profitability over the coming years.