Dubai-listed developer Union Properties has around 6.6 million square feet of unlaunched gross floor area in Motor City master development and continues to assess future development opportunities across its land portfolio amid a positive outlook for Dubai’s residential real estate market.
Amer Khansaheb, CEO of Union Properties, told journalists that the company’s strengthened balance sheet and robust liquidity position provide it with significant financial flexibility to support its development pipeline.
During the first half of 2026, the developer maintained average cash balances of more than 400 million UAE dirhams ($109 million) after completing its financial transformation and eliminating legacy debt.
The company’s revenue increased by 68 percent year-on-year, supported by continued operational momentum, disciplined project execution, stronger development activity, and ongoing improvements across the business.
They remain on track with their projects.
Construction is progressing as scheduled at both Takaya and Mirdad in Motor City, with Takaya on track for handover in the fourth quarter of 2027, and Mirdad expected to be delivered in the fourth quarter of 2028.
Union Properties will announce a new AED 2 billion ($545 million) residential master-planned community in Motor City, including details on consultants, launch timelines, and delivery milestones.
Having an in-house contracting capability allows for greater control over project execution, quality, scheduling, and cost management, resulting in faster decision-making, improved operational efficiency, and stronger execution discipline during the project lifecycle.
Union Properties remains highly positive about the outlook for Dubai’s residential real estate market, which continues to be supported by strong macroeconomic fundamentals, population growth, sustained international investment, and rising demand from end-users.
The company has approximately AED 4 billion ($1.1 billion) of projects under development, and one of the strongest liquidity positions in its recent history.
For people living in Dubai, this development means that there will be more options for housing, which could lead to a more stable and balanced market, and as a result, it could be easier for them to find a place to live.
It is likely that we will see more developments in the Motor City area, which could have a positive impact on the local economy and provide more job opportunities for residents.
The company’s focus on operational efficiency and cost discipline has helped it translate revenue growth into stronger profitability, with gross profit increasing by 41 percent.
A strong and stable market is essential for the growth and development of a city, and it seems that Dubai is on the right track with its real estate market, including IPO prices and residential communities.
Union Properties will continue to grow its portfolio.
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