Dubai’s real estate sector continues to witness new development activity as established developers strengthen their financial performance and expand their project pipelines. Union Properties, one of Dubai’s publicly listed real estate developers, has reported revenue growth of 58% during the first nine months of 2026, supported by improved operational performance and contributions from its subsidiaries.
The company recorded a net profit of Dh28 million for the nine months ending September 30, 2026. Although this represents a decline compared with the Dh139.2 million reported during the same period last year, the difference was largely influenced by a one-off gain recorded in 2025 from the sale of a land plot valued at Dh152 million.
Despite the lower reported net profit, the latest financial results highlight improvements in the company’s revenue and gross profit, alongside plans to expand its development portfolio across Dubai.
For investors following the Dubai Property market, Union Properties’ latest results provide insight into how established developers are positioning themselves for future growth through new residential and mixed-use developments.
These developments also contribute to the wider Dubai Real Estate market, creating opportunities for buyers exploring Dubai Property Investment and upcoming residential communities.
Union Properties Revenue Increases 58% to Dh809.5 Million
Union Properties reported revenue of Dh809.5 million for the first nine months of 2026, representing a 58% increase compared with the corresponding period in 2025.
The improvement was supported by stronger operational activity, increased contributions from subsidiaries and continued progress across the company’s business portfolio.
Gross profit also recorded significant growth, reaching Dh156.7 million compared with Dh97.5 million during the same period last year. This represents an increase of approximately 61%.
The improvement in gross profit indicates stronger underlying operational performance, supported by cost management and improved business efficiency.
However, the company’s net profit declined from Dh139.2 million to Dh28 million because the previous year’s results included the exceptional Dh152 million land-sale gain.
This distinction is important when evaluating the company’s financial performance. Comparing recurring business operations alongside exceptional gains provides a clearer understanding of its underlying financial position.
As Union Properties advances its development pipeline, buyers and investors can also monitor the wider market for New Projects in Dubai, including Dubai Off Plan Projects and residential developments introduced by established developers. Those researching Off Plan Dubai Property can compare opportunities based on location, developer reputation, project specifications and payment plans.
The growing selection of Off Plan Properties Dubai also provides different options for buyers with varying investment budgets. From premium residential communities to Affordable Off Plan Properties in Dubai, the market offers opportunities for those considering an Off Plan Property Dubai investment.
Strong First-Half Performance Supports Growth Momentum
The company’s latest nine-month results follow positive financial performance during the first half of 2026. For the six months ending June 30, Union Properties reported revenue of Dh529.3 million, reflecting a 68% year-on-year increase.
Gross profit during the first half reached Dh107 million, representing growth of 41% compared with the corresponding period in 2025.
The subsequent nine-month results indicate that the company continued to build on its operational progress during the third quarter.
Sheikh Nasser Rashid Almoalla, Chairman of Union Properties, said the third-quarter performance reflected the company’s strategic direction and its commitment to sustainable growth, corporate governance and shareholder value.
He also highlighted the company’s focus on strengthening its financial fundamentals, expanding its development pipeline and identifying opportunities that support its longer-term growth ambitions.
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Union Properties Advances Dh4 Billion Development Pipeline
One of the major highlights of the financial announcement is Union Properties’ development pipeline, which is valued at approximately Dh4 billion.
The company expects around Dh3.87 billion in future development revenue to be realised by 2028.
This pipeline is expected to contribute to future revenue generation, diversify the company’s income streams and strengthen its position within Dubai’s competitive real estate sector.
Two major developments form an important part of this expansion strategy: Takaya and Mirdad.
Takaya: A Dh2 Billion Mixed-Use Development
Takaya is a mixed-use development with an estimated project value of approximately Dh2 billion.
Mixed-use developments have become an important part of Dubai’s urban development landscape, combining residential properties with lifestyle, retail and other facilities.
Such projects aim to create integrated environments where residents can access essential amenities and services within their surrounding community.
Takaya represents a significant part of Union Properties’ development plans and is expected to contribute to its future business performance.
Mirdad: Another Dh2 Billion Development
Mirdad is another major development within Union Properties’ portfolio, with an estimated value of approximately Dh2 billion.
Together, Takaya and Mirdad account for approximately Dh4 billion in development value, forming the foundation of the company’s current expansion pipeline.
The progress of these developments will be important in determining how Union Properties converts its planned projects into future revenue and completed residential assets.
For buyers researching New Projects in Dubai, developments introduced by established local developers can provide additional opportunities to compare residential locations, property specifications and investment options.
Union Properties Focuses on Financial Stability and Operational Efficiency
Alongside its development plans, Union Properties is continuing to focus on improving asset performance and strengthening the efficiency of its subsidiaries.
Dr Ali Rashed Sultan Al Kaitoob, Vice Chairman of the transition committee managing Union Properties, said the company remained committed to enhancing operational efficiency and accelerating the execution of its development projects.
The developer also stated that it continues to maintain a strong liquidity position and financial flexibility.
Maintaining sufficient liquidity is particularly important for real estate companies because large-scale developments require substantial capital throughout the construction and delivery process.
A stable financial position can help developers manage project commitments, allocate capital and pursue additional growth opportunities.
For the wider Dubai Real Estate market, the expansion of development pipelines also reflects the continued activity of local developers across residential and mixed-use property segments.
What Union Properties’ Expansion Means for Dubai’s Property Market
Union Properties’ financial performance comes at a time when Dubai continues to attract international property buyers, investors and residents.
The emirate’s residential market offers opportunities across different property categories, including apartments, villas, townhouses and mixed-use developments.
The expansion of development pipelines by established companies can introduce additional housing options and increase the range of properties available to buyers.
For investors interested in Dubai Property Investment, the financial position and development strategy of a developer are important factors to consider when evaluating a project.
However, strong revenue growth does not automatically guarantee the success of every development. Buyers should examine project-specific information, construction progress, developer delivery history, location demand and contractual arrangements before committing to a purchase.
Growing Opportunities in Dubai’s Off-Plan Property Market
Dubai’s expanding residential development landscape continues to attract buyers interested in purchasing properties before construction is completed.
Off Plan Dubai Property investments allow buyers to purchase directly from developers during the development stage, with payment schedules determined by the individual project.
The market includes a variety of residential options, from premium waterfront apartments to family-oriented communities and emerging residential destinations.
Buyers exploring Off Plan Properties Dubai can compare developments based on location, developer reputation, property prices, construction timelines and available payment plans.
There is also growing interest in Affordable Off Plan Properties in Dubai, particularly among first-time buyers and investors looking for comparatively accessible entry points into the property market.
When evaluating Dubai Off Plan Projects, buyers should consider the following factors:
- The developer’s financial position and previous project delivery record.
- Project registration and applicable escrow arrangements.
- Location connectivity and planned infrastructure.
- Property prices compared with similar developments.
- Payment schedules and expected handover dates.
- Potential rental demand and long-term resale considerations.
It is equally important to understand that off-plan properties generally do not generate rental income until construction is completed and the property is handed over.
For buyers searching for Off Plan Properties for Sale in Dubai, understanding these factors can help them compare opportunities more effectively.
Explore Dubai’s Latest Off-Plan Property Opportunities
Union Properties’ latest financial results highlight a combination of revenue growth, improved gross profitability and an expanding development pipeline valued at approximately Dh4 billion.
With projects such as Takaya and Mirdad forming a significant part of its future development strategy, the company is working to strengthen its position in Dubai’s residential and mixed-use property market.
As more developments enter the market, buyers and investors have additional opportunities to compare locations, developers and residential offerings.
At Off Plan Dubai Property, explore available off-plan developments across Dubai and discover residential investment opportunities that match your budget and property requirements.
Looking to buy an off-plan property in Dubai? Connect with our team to explore available developments, compare projects and find a property aligned with your investment goals.
Source and attribution: Source and reference: This article is re-written based on information originally reported by Khaleej times. All financial figures and project information are attributed to the original source.
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