New Launch - India Real Estate Report 2026.
Union Properties has reported a sharp improvement in its first-half 2026 financials while simultaneously progressing plans for a new Dh2 billion residential community in Dubai. Revenue for the six months ended June 2026 rose to Dh529.3 million from Dh316 million in the same period last year, a 68% increase driven by higher project activity, operating efficiencies and continued delivery across its development portfolio.
A New Community of 167 Homes in the Pipeline
The planned master development will comprise around 167 townhouses, villas and bungalows and is currently moving through the approval and permitting process. No completion date has been confirmed.
The announcement sits alongside a broader Dh4 billion development portfolio, of which Dh3.87 billion in potential revenue remains to be recognised through end of 2028, giving the company multi-year earnings visibility at a time when it is shifting from financial restructuring into a growth phase.
Numbers Behind the Recovery
Gross profit for the first half rose 41% to Dh107 million from Dh75.6 million. The second quarter alone saw revenue climb 69% year-on-year to Dh257.8 million, with gross profit reaching Dh48.6 million. The developer recognised Dh101.6 million in development revenue during the first half, leaving the bulk of its project pipeline to flow through results over the next two and a half years.
- H1 2026 revenue: Dh529.3 million, up 68% year-on-year
- H1 gross profit: Dh107 million, up 41%
- Q2 revenue: Dh257.8 million, up 69% year-on-year
- Remaining development revenue to recognise: Dh3.87 billion through 2028
- Average cash balances maintained: more than Dh400 million
Also Read: Dubai Off-Plan Luxury Apartment Sells for Dh166 Million
Execution Backed by In-House Contracting
Construction is continuing at Union Properties' Takaya and Mirdad developments. The company is using its in-house contracting business, Tetra Edge, to manage project execution and protect margins, a structure that gives it more direct control over delivery timelines and costs than developers relying entirely on third-party contractors.
Eng. Amer Khansaheb, Chief Executive Officer of Union Properties, said the company has built a high-quality development pipeline that is now translating into tangible financial results, adding that with approximately Dh4 billion of projects under development and a strong liquidity position, it has clear visibility over future earnings and capacity to pursue further growth.
Average cash balances of more than Dh400 million during the first half support that position, providing funds for construction activity, new launches and further expansion.
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