Business

Union Properties Sign $190.61 Million Sale Agreement

Dubai-based real estate developer Union Properties, listed on Dubai Financial Market (DFM), said that it has signed a conditional sale agreement valued at $190.61 million for a significant real estate project in Motor City.

This marks a pivotal milestone in the company’s strategic roadmap, effectively concluding its comprehensive recovery plan which was designed to resolve all legacy debt settlements and restore long-term financial strength, the company said in a regulatory disclosure with DFM this morning.

Building on a record $350 million in plot sales achieved in 2024 as part of its comprehensive debt restructuring strategy, this latest agreement is expected to be recognised in the company’s Q4 of 2025 financials.

Importantly, the real estate project will contribute meaningfully to the continued evolution of Motor City, one of Dubai’s most established and sought-after communities. Its shareholders also recently approved a 33.4% capital reduction and the use of reserves to write off its losses.

Structured under a deferred payment framework, the agreement further reinforces Union Properties disciplined financial approach, with the initial deposit already secured, ensuring strong cash flow visibility and continued balance sheet optimization.

Upon completion, the proceeds will enable the company to fully settle its legacy debt, marking the culmination of a multi-year recovery strategy. This milestone also positions the company to pivot decisively toward a new phase of sustainable growth, strategic capital deployment, and long-term value creation for its shareholders.

Settles Legacy Debts

Union Properties CEO and Board member Amer Khansaheb said that this transaction is more than a sale – it is a signal of strength. With this transition, the company brings their recovery plan to a close, settle all legacy debts, and lay the foundation for a bold new chapter.

“This milestone reflects not only the trust and confidence of the market in our vision, but also the resilience and discipline of our team in executing one of the most successful turnaround strategies in the sector. Today, we build from a position of strength, focused on strategic development, long-term value creation, and a sustainable impact across the UAE’s Real Estate landscape,” he added.

Union Properties remains committed to delivering value-driven, market-responsive developments that elevate communities and support Dubai’s broader urban vision. As the company continues to execute its strategic objectives, this landmark transaction signals its resilience, agility, and forward momentum in an increasingly competitive market.

Global Business Magazine

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