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Union Properties returns to profit in Q2; cost savings help

Newsroom Editor by Newsroom Editor
August 4, 2022
in Real Estate
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Dubai-based developer Union Properties has reported a net profit in Q2 2022 as it turnaround strategy was able to achieve significant cost savings.

 

Revenue from contracts with customers remained stable at AED99 million in Q2 2022 compared to the same period last year, as the group’s subsidiaries delivered healthy performance improvements, supported by strong market dynamics in the UAE’s real estate sector. Gross profit…



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