Union Properties (Union Properties or the Company) has signed a conditional sale agreement valued at US $191mn for a significant real estate project in Motor City. This landmark milestone marks the completion of the company’s comprehensive recovery plan, which aimed to resolve all legacy debt settlements and restore long-term financial strength.
Building on the $354mn in plot sales achieved in 2024 as part of its debt restructuring strategy, this latest agreement is expected to be recognised in the company’s Q4 2025 financials. The real estate project will contribute significantly to the continued evolution of Motor City, one of Dubai’s most established and sought-after communities, said a statement.
Structured under a deferred payment framework, the agreement further reinforces Union Properties’ disciplined financial approach. The initial deposit has already been secured, ensuring strong cash flow visibility and continued balance sheet optimisation, it added.
Upon completion, the proceeds will enable the company to fully settle its legacy debt, concluding a multi-year recovery strategy. This milestone positions the company to pivot decisively toward a new phase of sustainable growth, strategic capital deployment, and long-term value creation for its shareholders.
Amer Khansaheb, 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.”
Union Properties remains steadfast in its commitment to delivering value-driven, market-responsive developments that enhance communities and align with Dubai’s comprehensive urban vision. As the company continues to execute its strategic objectives, this landmark transaction underscores its resilience, adaptability, and forward-thinking approach in a rapidly evolving market, the statement concluded.
