Union Properties Registers $139 Million As Q3 Net Profit

SourceAl Bawaba
SectorReal Estate
CountryUnited Arab Emirates

Announcing its financial results for the three-month period ended September 30, 2020, Union Properties said the third quarter profit was seen at 12 fils per share, while the profit for the nine-month period of the current year stood at AED 348.8 million (approximately 8 fils per share). With these realized profits, the Dubai developer has cleared all losses for 2019 as well as for the first and second quarter of 2020 in addition to increasing its assets to AED6.2 billion from AED5.9 billion. Also the Emirati developer increased the shareholders equity to AED 3 billion from 2.7 billion for Q3. On the solid performance, Chairman Khalifa Hasan Al Hammadi said: "This is the first quarter completed under the leadership of the recently elected board of directors and we are proud to deliver these ...read more...