Dubai: The Dubai developer Union Properties has merged three of its operational units to generate better profitability and also help with the medium-term turnaround plans it is hoping to achieve. There will be a one-off cost saving of more than Dh7 million within the next 12 months from the move.
This will be through combining the Edacom Owners Association Management, Uptown Mirdif and Al Etihad Cold Storage under the Edacom umbrella. At the same time, collaboration between Edacom and ServeU – both Union Properties’ subsidiaries – will create 60 per cent in cost savings by this year-end at its Motor City development.
The developer has also commenced design and engineering work for major infrastructure upgrades at Motor City. According to Amer Khansaheb, Managing Director of Union Properties, “These achievements mark an important step in the ongoing delivery of our turnaround strategy that is focused on restructuring operations and generating greater value for our homeowners, residents and shareholders. We continue to implement a business transformation culture aimed at improving the overall efficiency and productivity of the business through better utilization of resources and deployment of advanced technology.”