Dubai: Union Properties said on Monday that it has postponed its annual general assembly due to lack of quorum.

In a statement posted on Dubai Financial Market’s website, the property developer said the company will held its new annual general assembly on April 24.

The 23rd meeting was supposed to be held on April 17.

In 2015, Union Properties took another hit on revenues and net profit. Net profit for 2015 fell to Dh434.6 million from Dh864.99 million recorded in 2014.