Union Properties has signed a conditional sale agreement worth $190.6 million (AED 700 million) for a key real estate project located in Dubai’s Motor City.
The deal marks a critical milestone in the company’s long-term strategic roadmap and concluding its comprehensive financial recovery plan. The deal is expected to be reflected in the company’s the year’s 4th quarter financial results, following a record-breaking $354.5 million (AED 1.3 billion) in plot sales achieved in 2024 under its broader debt restructuring strategy.
The newly signed agreement is structured with a deferred payment framework, with the initial deposit already secured, ensuring robust cash flow visibility and continued balance sheet optimization.
Eng. Amer Khansaheb CEO and Board Member- Union Properties
“This transaction is more than a sale, it is a signal of strength. With this transition, we bring our 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.”
The transaction not only strengthens Union Properties’ financial position but also contributes significantly to the future development of Motor City, one of Dubai’s most established residential and commercial communities.
Upon completion, the proceeds from the sale will allow Union Properties to fully settle its legacy debt, effectively concluding a multi-year recovery strategy. This positions the company to transition into a new growth phase focused on strategic capital deployment, value creation, and sustainable development.
The agreement underlines Union Properties’ disciplined approach to financial management and its commitment to revitalizing assets that align with Dubai’s broader urban and economic vision. With this transaction, the company reinforces its role as a key player in Dubai’s real estate sector, and signals continued momentum in an increasingly competitive and innovation-driven market.
