For a major real estate project in Motor City, Union Properties, a top developer in the UAE, has agreed to a conditional sales deal for AED 700 million ($190 million).
This completely completes the company’s comprehensive recovery plan, which was created to settle all legacy debt settlements and regain long-term financial strength. It also represents a significant milestone in the company’s strategic roadmap.
This latest deal is anticipated to be recorded in the company’s Q4 2025 financials, building on a record AED1.3 billion ($354 million) in plot sales realized in 2024 as part of its comprehensive debt restructuring strategy.
According to the developer in Dubai, the real estate project will significantly advance the ongoing development of MotorCity, one of the city’s oldest neighborhoods.
According to the statement, the deal, which is structured under a deferred payment framework and has already secured the first deposit, further supports Union Properties’ conservative financial approach by guaranteeing good cash flow visibility and ongoing balance sheet optimization.
When it is completed, the money will enable Union Properties to pay off its legacy debt in full, marking the final step in a multi-year rehabilitation plan.
A new phase of sustainable growth, strategic capital deployment, and long-term value creation for its shareholders is now firmly in the company’s sights thanks to this milestone.
Engineer Amer Khansaheb, the CEO and Board Member of Union Properties, said: “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,” he added.