Union Properties is preparing for its next phase of expansion after reporting a sharp rise in revenue during the first half of the year. The Dubai-based developer has announced plans to launch an AED 2 billion residential community in Motor City.
Its focus is on improving financial performance and building trust in the emirate's property market. The project is announced at a time when the company continues its turnaround strategy, supported by stronger sales, healthier cash reserves and renewed investor interest.
Gross revenue for the second quarter increased by 69% year-on-year to AED 257.8 million ($70.2 million), compared with AED 152.4 million during the corresponding period in 2025. Gross profit increased to AED 48.6 million, reflecting disciplined execution, operational efficiencies and continued improvements across the business.
For the first six months of 2026, revenue increased by 68% to AED 529.3 million, compared with AED 316 million during the corresponding period of 2025. Gross profit edged higher by 41% to AED 107.0 million from AED 75.6 million. This shows the company's ability to convert revenue growth into stronger profitability.
Eng Amer Khansaheb, Chief Executive Officer and Board Member of Union Properties, said: "Our H1 results reflect more than strong financial performance, they demonstrate the successful transformation of Union Properties into a stronger, more resilient business with a clear platform for sustainable long-term growth.”
He further added, “Through disciplined execution, we have strengthened our balance sheet, enhanced operational efficiency and built a high-quality development pipeline that is now translating into tangible financial results. With approximately AED 4 billion of projects under development, AED 3.87 billion in potential development revenue with higher margins yet to be recognised, and a strong liquidity position, we have clear visibility over future earnings and significant capacity to pursue further growth.”
The company’s next flagship development would be an AED 2 billion residential community within Dubai Motor City. The project is expected to have modern homes with public areas and lifestyle and retail facilities, ensuring an integrated neighborhood.
Union Properties has been working toward increasing its exposure at Motor City. The new community would help the firm meet the high demand for connected residential projects. According to the developer, the location has continued to attract investors and end-users interested in mature projects with potential for further appreciation.
This news comes at a time when the Dubai real estate sector maintains its resilience amid the overall uncertain environment in the world economy. A high volume of transactions, friendly policies toward investors, and sustained population growth have pushed developers to launch more projects in the city.