Page 38 - Union Properties News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The turnaround strategy being implemented by the company's board has allowed it to reduce accumulated losses and increase shareholder equity, Union Properties said, without giving details of the reduction in accumulated losses or operating costs. Union Properties, like its peers in Dubai, has faced headwinds amid a slowdown in the emirate’s real estate market in the wake of a drop in oil prices that began in 2014. Ongoing concerns about an oversupply of properties and the Covid-19 pandemic posed further challenges in 2020, affecting real estate sales. Property prices in Dubai slipped 8 per ...

Total assets grew by two per cent year-on-year, reaching Dh5.99 billion in 2020.

Dubai and Gulf Investors are treading with caution after governments tightened up restrictions on social and commercial activity to curb the virus spread. Kuwait plans to ban foreign nationals from entering the country for two weeks starting February 7 amid a surge in infections, while Saudi Arabia further tightened up by suspending entertainment activities and dine-in services at restaurants. The kingdom had earlier banned nationals of 20 countries from visiting the country, and extended the restrictions for its citizens after running into short supply of vaccines. Dubai Financial Market e...

Emaar Properties recent announcement of a temporary stoppage to new construction should be positive for the entire UAE real estate sector. This could gradually improve the pricing scenario as supply is curbed and thereby make the sector more attractive for investors. The Dubai Land Department numbers show transactions of villas and townhouses is on the mend. In Abu Dhabi, Aldar's residential community 'Noya' on Yas Island was sold out in four hours. Of the Dh1 billion in sales, almost 40 per cent was sold to non-UAE nationals. Nonetheless, let us take a look at how the big listed companies ...

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