Union Properties Explained

Union Properties
Trade Name:Union Properties PJSC
Type:Public Joint Stock Company
Industry:Real Estate Developer
Founded:1987
Hq Location City:Dubai
Hq Location Country:United Arab Emirates
Area Served:United Arab Emirates
Key People:Khalifa Al Hammadi - CEO & Chairman of the board[1]
Services:Real Estate development (Skyscrapers, Towers, Retail, Communities, Low rise residential buildings, Shopping Malls), commercial development, industrial development and Leisure and destination projects.
Revenue:AED 423 Million
Revenue Year:Q3 2019
Assets:5.9 Billion AED
Assets Year:Q2 2018[2]
Num Employees:5,540
Num Employees Year:2020
Subsid:ServeU, The FITOUT, Thermo, GMAMCO, Edacom, Dubai Autodrome, EDACOM, Union Holding LLC, Al Etihad Cold Storage LLC, Thermo LLC

Union Properties is a real estate development company headquartered in Dubai, United Arab Emirates. Established in 1987 as Union Property Private Limited[3], the company was listed on the Dubai Financial Market in 1993. Notable projects undertaken by Union Properties include The Index apartment and office building in Dubai and Dubai Motor City.

History

On January 21, 2018, Union Properties announced that it had sold to Dubai Investment its 50% stake in Emirates District Cooling, or Emicool, for 500 million Dirhams.[4] After this acquisition, Dubai Investments will fully own Emicool. The proceeds of the sale went towards restructuring the debts of the company.[5] Union Properties also purchased a stake in the Egyptian Palm Hills Company in 2019.[6] [7]

Subsidiaries

[8]

Awards

Accolades include:

Notes and References

  1. https://www.dfm.ae/home/issuers/listed-securities/securities/disclosure-details?id=012cafb4-afd8-43bc-bae0-78ba52118f03 Union Properties Board of Directors Meeting Results
  2. Web site: Union Properties. www.bloomberg.com. 2018-10-20.
  3. Union Properties . Arabian Business.
  4. Web site: Dubai Investments buys 50% stake in Emicool for Dh500m. The National. 21 January 2018. en. 2020-05-10.
  5. Web site: Dubai Investments buys Union Properties' Emicool stake for $136m. Construction Week Online Middle East. en. 2020-05-10.
  6. Web site: UAE's Union Properties buys 5.68% stake in Egypt's Palm Hills. www.zawya.com. en. 2020-05-10.
  7. Web site: Emirati company acquires 5.7% stake in Palm Hills. EgyptToday. 10 January 2018. 2020-05-10.
  8. Web site: Union Properties PJSC. Dubai Financial Market.
  9. Web site: Union Properties announces plans to list ServeU on DFM in second half of 2018. MENA Herald. en. 2018-10-20.
  10. News: UAE's UPP Capital Investment raises stake in Palm Hills. 2018-10-20. en.
  11. News: Union Properties PJSC captures honours in recent Arabian Business Awards 2005. 2005-11-10. Al Bawaba. 2018-10-20. en.
  12. Web site: The Index is judged best tall building in the Middle East and Africa by CTBUH Foster + Partners. www.fosterandpartners.com. Foster + Partners /. www.fosterandpartners.com. en. 2018-10-20.
  13. 2016. TOP 50 LISTED REAL ESTATE COMPANIES. Forbes Middleeast. GUIDE 2016 / REAL ESTATE. 56. 2018-10-20. 2018-10-20. https://web.archive.org/web/20181020224046/https://www.forbesmiddleeast.com/en/wp-content/uploads/sites/3/2017/01/ForbesMERealEstateGuide2016.pdf. dead.
  14. https://www.fm-middleeast.com/events/fm-awards/76701-fmme-awards-2020-winners-revealed FMME Awards 2020: Winners revealed
  15. https://www.kachaf.com/wiki.php?n=5ed53f16b4d0a03c2a77da62 Aletehad al-aqarya, kachaf .
  16. http://www.skyscrapercenter.com/building/the-index/387 CTBUH Awards, skyscraper center

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Union Properties".

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