Union Properties said on Monday it has appointed Ahmad Yousuf Abdullah Hussain Khouri as chief executive officer.

The appointment is effective immediately, the company said in a statement posted on the Dubai Financial Market’s website.

In the three months to March, Union Properties reported flat profit growth, totalling Dh42.46 million against the Dh42.09 million reported a year ago.

The core operations of property management and sales revenue came to Dh18.74 million, marginally ahead over the Dh16.32 million in the first quarter last year.