UAE, April 7, 2026 — Union Properties PJSC (DFM: UPP) approved its first dividend payout in 11 years after its Annual General Meeting achieved first quorum for the first time in six years, marking a significant milestone in the company’s turnaround and signalling renewed shareholder confidence.
The AGM convened with 68% shareholder attendance, reflecting growing support for the company’s strategy, governance, and financial performance as it enters a new phase of growth.
First dividend in more than a decade
Shareholders approved a cash dividend of 3 fils per share, marking the company’s first dividend distribution since 2015.
The return to shareholder payouts highlights Union Properties’ improved liquidity, stronger balance sheet, and restored ability to deliver returns following several years of restructuring and operational recovery.
Revenue, profit and cash reserves rise
The dividend approval comes as the company reported a sharp improvement in its financial performance.
Revenue rose 39.4% year-on-year to AED 736.9 million in 2025, compared with AED 528.7 million in 2024.
Operating profit increased to AED 240.7 million, up from AED 161.8 million a year earlier, while cash reserves climbed to AED 494.2 million, reflecting one of the company’s strongest liquidity positions in recent years.
During the AGM, Mohamed Fardan Ali Al Fardan, Chairman of the Board of Directors of Union Properties, highlighted the company’s financial progress and the strengthening fundamentals supporting its next phase.
New board elected for next growth cycle
The AGM, held on April 7, 2026, also saw the election of a new Board of Directors for the next three-year term.
The newly elected board includes:
- Shaikh Nasser Rashid Almoalla
- Mohamed Fardan Al Fardan
- Amer Abdulaziz Khansaheb
- Ahmed Salem Alhosani
- Ahmad Bin Mohammad Al Qassimi
- Khaled Nasser Al Shamsi
- Rana Abdelkarim Shashaa
Company says turnaround is entering new phase
Eng. Amer Khansaheb, CEO and Board Member of Union Properties, said the dividend approval marks a defining point in the company’s recovery.
“The approval of our first dividend in over a decade marks a defining moment for Union Properties and a clear validation of the progress we have made over the past four years,” he said.
“This milestone, alongside the appointment of a Board, signals the beginning of a new era for the Company, one grounded in financial strength, disciplined execution, and a clear commitment to delivering sustainable, long-term returns for our shareholders.”
The AGM outcomes underline Union Properties’ transition into a new phase centred on financial discipline, governance renewal, and shareholder returns, as the Dubai-listed developer seeks to build on its recent recovery.
