Union Properties nine-month profit falls to AED 28.055 million

Union Properties' nine-month 2026 profit for the period fell to AED 28.055 million from AED 139.229 million, while revenue and gross profit rose.

2 Nov 2026, 18:41

Union Properties' profit for the period was AED 28.055 million for the nine months to 30 September 2026, against AED 139.229 million a year earlier, in interim figures reviewed, not audited, by Grant Thornton UAE.

• Nine-month profit for the period: AED 28.055 million, against AED 139.229 million; there are no non-controlling interests.
• Revenue rose to AED 809.518 million from AED 512.865 million, and gross profit to AED 156.704 million from AED 97.492 million.
• The 2025 period included a AED 152.040 million gain on the sale of investment property held for sale, with no 2026 equivalent.
• Third-quarter profit for the period was AED 9.681 million, against AED 124.666 million.
• The company said it has a development pipeline of approximately AED 4 billion, with around AED 3.87 billion in future development revenue expected by 2028.

Union Properties PJSC (DFM: UPP) reported profit for the period of AED 28.055 million for the nine months ended 30 September 2026, compared with AED 139.229 million in the same period of 2025, according to its interim condensed consolidated financial information. The statements show no non-controlling interests, so the full amount is attributable to owners of the company.

What happened

The figures were reviewed, not audited, by Grant Thornton UAE, with the review report signed by Anand Prabhu on 2 November 2026.

Revenue rose to AED 809.518 million from AED 512.865 million, and gross profit rose to AED 156.704 million from AED 97.492 million. The 2025 comparative period included a gain of AED 152.040 million on the sale of investment property held for sale, a line with no 2026 equivalent.

Basic and diluted earnings per share were AED 0.0065, compared with AED 0.0325.

For the third quarter alone, profit for the period was AED 9.681 million, compared with AED 124.666 million.

Why it matters

In a statement, Union Properties said revenue grew 58% and gross profit rose 61%. The company said its 2025 net profit was boosted by a one-off gain from the sale of a plot.

The board of directors passed resolutions by circulation on 2 November 2026 relating to the third-quarter financial statements, according to a filing with the Dubai Financial Market.

What to watch next

The company said it has a development pipeline valued at approximately AED 4 billion, with around AED 3.87 billion in future development revenue expected to be realised by 2028.