Union Properties posts Dh0.285 million net profit in Q2
Turnaround strategy continues to drive cost efficiencies with administrative and general expenses down 32% year-on-year
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Turnaround strategy continues to drive cost efficiencies with administrative and general expenses down 32% year-on-year
Dubai-based developer Union Properties has reported a net profit in Q2 2022 as it turnaround strategy was able to achieve significant cost savings.
Developer is trying out a turnaround strategy after running into losses
UAE-based Union Properties said it has completed key operational improvements including the consolidation of three business units under Edacom for easy management of assets as part of its turnaround strategy to deliver maximum value to its customers.
The MSCI GCC index witnessed a steeper monthly drop than last month at 9.0 per cent in June, witnessing a bigger drop than most other global equity markets, accordin...