Union Properties plans first dividend in 11 years

The board of Dubai property developer Union Properties has announced its first dividend in 11 years, following the completion of its debt restructuring plan.

The company has proposed a cash dividend of AED3 ($0.81) per share after revenue surged 39 percent to AED737 million in 2025, compared to AED529 million in 2024, according to a statement published on the Dubai Financial Market on Monday.

The authorised share capital of the group stands at 7 billion shares as of December 31, 2025. The issued and fully paid shares – total shares allocated to investors – are 4.3 billion, according to the company’s latest financial statement.

Net profit rose 67 percent year on year to AED462 million in 2025. Total cash balance reached AED494 million, its “highest level in several years”, the statement said. 

Union Properties continued its development strategy with the launch of the AED2 billion Mirdad master-planned residential project in Motor City. Its facilities management subsidiary, ServeU, expanded its footprint with the acquisition of House Keeping, a manpower and domestic workforce company.  

In October, CEO Amer Khansaheb said the company hopes to raise AED700 million through asset sales over the next 14 months to boost cash reserves.

• Union Properties expects $191m from asset sales
• Union Properties completes repayment of its legacy debts
• Union Properties issues final notice to former chairman

The developer has already fully repaid legacy debt, reducing bank loans from AED1.5 billion to AED302 million.

Union Properties is preparing a 15-year “rapid-growth” strategy to diversify revenue streams and strengthen recurring income across core and new business segments.

The stock closed 0.2 percent higher at AED0.923 on Friday and is up 10 percent so far this year.