Dubai – Mubasher: Union Properties’ (UP) Chairman, Khalid Bin Kalban, expected the value of the company’s projects under execution to reach about AED 2 billion in the next three years.
In an interview aired on Dubai One channel, Bin Kalban added that the current value of these projects nears AED 1.3 billion, noting that the company plans to launch new projects worth AED 500 million.
The chairman asserted that new projects contributed to the company’s profits for the second quarter of fiscal 2016 and the first half of the year.
Union Properties’ profits rose in Q2-16 by 270.4% to AED 71.74 million.
