Union Properties
| Public Joint Stock Company | |
| ISIN | 🆔 |
| Industry | Real Estate Developer |
| Founded 📆 | 1987 |
| Founder 👔 | |
| Headquarters 🏙️ | , , |
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 (Q3 2019) |
| Total assets | 5.9 Billion AED (Q2 2018[2]) |
| Members | |
Number of employees | 5,540 (2020[2]) |
| Subsidiaries | ServeU, The FITOUT, Thermo, GMAMCO, Edacom, Dubai Autodrome, EDACOM, Union Holding LLC, Al Etihad Cold Storage LLC, Thermo LLC |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
Union Properties is a real estate development company based in Dubai, United Arab Emirates. The company was formed in 1987 as Union Property Private Limited[3] and was listed on the Dubai Financial Market in 1993. Previous projects include The Index apartment/office building in Dubai and Dubai Motor City.
Previous developments
- Dubai Motor City neighborhood located in Dubai (city). Union Properties has participated in developing its related subprojects including, mosques, Uptown-MotorCity, MotorCity-Green Community, The Ribbon and OIA Residence, Dubai Autodrome, the Grandstand Retail Plaza, the Motorsport Business Park, a VIP Paddock Hospitality area and entertainment facilities for events and corporate entertainment.
- Dubai Green Community, DIP has been developed by a joint venture created between Union Properties and Dubai Investments PJSC called Properties Investment LLC. This project includes the development of Courtyard by Marriott Green Community, Green Community Phase I, Green Community West, Phase II, The Market and Green Community West, Phase III (completed in July 2018).
- Union Tower, 1996, in Dubai
- 'Al Mussalla Towers, 1998, in Dubai
- Union Properties Tower, 2002, in Dubai
- The Index (Dubai) tower, 2005, in Dubai
- Control Tower, 2008, in Dubai
- Limestone House, Dubai International Financial Centre
- The Ritz-Carlton, Dubai International Financial Centre
- UPTOWN Mirdiff, Dubai
- Union House, Dubai
- OIA Residence, Dubai Motor City
- Marriott Executive Apartments, Dubai
- Creekside Residence, Dubai
- Opal Building, Dubai
- Al Satwa Villas, Dubai
- Al Wasl Villas, Dubai
- Jumeirah Park Villas, Dubai
- Radio Tower Villas, Dubai
- Al Loze Villas, Dubai
- Nadd Rashid Villas, Dubai
- Union House, Dubai
- Net.Com, Dubai
- Al Rolla Building, Dubai
- Al Etihad Cold Storage, Dubai
Subsidiaries
- Dubai Motor City
- Dubai Autodrome
- ServeU
- EDACOM
- The FitOut
- Property Investment
- GMAMCO
- Union Malls[5]
- Uptown Mirdiff
- UPP Capital Investment[6]
- Union Holding LLC
- Al Etihad Cold Storage LLC
- Thermo LLC
Awards
Accolades include:
- Arabian Business Award 2005, as Property Company of the Year, organised by the Arabia Business Magazine (ITP).[7]
- Best Tall Building Middle East & Africa in 2011 for Index Tower, a project of UP, organized by The Council on Tall Buildings and Urban Habitat.[8]
- Top Real Estate Companies 2016 in 13th grade, organised by Forbes Middle East.[9]
- Top 100 Companies in the Middle East 2018 in 47th grade organized by Forbes Middle East.
- ServeU won Unsung Hero of the Year 2020 award from FM Middle East Awards.[10]
- Best Real Estate Company 2016 in thirteenth grade, organized by Forbes Middle East.[11]
- Awarded as “Best Tall Building Middle East & Africa” from the Council on Tall Buildings and Urban Habitat in 2011.[12]
Selling Emicool assets
On January 21, 2018, Union Properties announced that it had sold to Dubai Investment, the multi-investment company, listed on the Dubai Financial Market, its stake of 50% in «Emirates District Cooling LLC» “EMICOOL” for 500 million Dirhams.[13][14] After this acquisition, Dubai Investments will acquire all shares of EMICOOL 100%. The proceeds of the sale contributed to the enhancement of the activities of the Union Properties and the restructuring of some debts arising from the company.[15][16][17]
Union Properties also invested another part in purchasing a strategic stake in Palm Hills Company in Egypt according to the company's financial data for the year 2019 and these returns contributed to the restoration of Stability of the company's cash flow and contribute to revitalizing and focusing on the company's other business, in addition to enhancing the company's financial position and allowing it to complete its other major business.[18][19][20][21][22][23]
Sponsoring
- Dubai Motor City Sponsored the AUTOCAR Middle East Awards 2007، Honoring the industry professionals, for 3 years.[24]
- Uptown Mirdiff Chess and Bridge Championship 2017.[25]
- Open a race track in Dubai Autodrome for people to practice driving fast in a safe area for free once weekly.[24]
References
- ↑ Union Properties Board of Directors Meeting Results
- ↑ 2.0 2.1 "Union Properties". www.bloomberg.com. Retrieved 2018-10-20.
- ↑ "Union Properties". Arabian Business.
- ↑ "Union Properties PJSC". Dubai Financial Market.
- ↑ "Union Properties announces plans to list ServeU on DFM in second half of 2018". MENA Herald. Retrieved 2018-10-20.
- ↑ "UAE's UPP Capital Investment raises stake in Palm Hills". Retrieved 2018-10-20.
- ↑ "Union Properties PJSC captures honours in recent Arabian Business Awards 2005". Al Bawaba. 2005-11-10. Retrieved 2018-10-20.
- ↑ www.fosterandpartners.com, Foster + Partners /. "The Index is judged best tall building in the Middle East and Africa by CTBUH | Foster + Partners". www.fosterandpartners.com. Retrieved 2018-10-20.
- ↑ "TOP 50 LISTED REAL ESTATE COMPANIES" (PDF). Forbes Middleeast. GUIDE 2016 / REAL ESTATE: 56. 2016. Archived from the original (PDF) on 2018-10-20. Retrieved 2018-10-20. Unknown parameter
|url-status=ignored (help) - ↑ FMME Awards 2020: Winners revealed
- ↑ Aletehad al-aqarya, kachaf .
- ↑ CTBUH Awards, skyscraper center
- ↑ "Dubai Investments buys 50% stake in Emicool for Dh500m". The National. 21 January 2018. Retrieved 2020-05-10.
- ↑ "Dubai Investments buys 50% stake in Emicool". Emirates Business. Retrieved 2020-05-10.
- ↑ "Dubai Investments buys Union Properties' Emicool stake for $136m". Construction Week Online Middle East. Retrieved 2020-05-10.
- ↑ "Union Properties sells Emicool stake for Dh500m". gulfnews.com. 21 January 2018. Retrieved 2020-05-10.
- ↑ "Dubai Investments Buys Union Properties' Stake in Emicool". www.districtenergy.org. Archived from the original on 2021-06-03. Retrieved 2020-05-10. Unknown parameter
|url-status=ignored (help) - ↑ "UAE's Union Properties buys 5.68% stake in Egypt's Palm Hills". www.zawya.com. Retrieved 2020-05-10.
- ↑ "Emirati company acquires 5.7% stake in Palm Hills". EgyptToday. 10 January 2018. Retrieved 2020-05-10.
- ↑ Thomas, Aby Sam (2018-08-16). "Follow The Leader: Ahmed Khouri, Managing Director, Union Properties". Entrepreneur. Retrieved 2020-05-10.
- ↑ "Dubai's Union Properties buys stake in Egyptian developer". ArabianBusiness.com. Retrieved 2020-05-10.
- ↑ "UPRO.DU - Union Properties PJSC Profile | Reuters". www.reuters.comundefined. Retrieved 2020-05-10.[permanent dead link]
- ↑ "UAE's small property stocks see 'exceptional' buying". gulfnews.com. 17 April 2019. Retrieved 2020-05-10.
- ↑ 24.0 24.1 "Union Properties PJSC Corporate Governance Report" (PDF). Dubai Financial Market PJSC. Archived from the original (PDF) on 2018-10-21. Retrieved 2018-10-20. Unknown parameter
|url-status=ignored (help) - ↑ الغربي, ■دبي - عدنان (2017-06-16). "118 لاعباً في بطولة "أب تاون الشطرنجية"". البيان (in العربية). Retrieved 2018-10-20.
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