Dubai-based developer Union Properties has secured AED 150 million ($40.84 million) in new funding to support the development of upcoming projects within 18 months. The developer made the announcement through a statement published on the Dubai Financial Market (DFM) on Wednesday. It did not disclose the name of the local bank that has arranged the loan. This is expected to provide a significant boost to the company’s growth ambitions surrounding real estate in Dubai, clearly complementing its long-term growth strategy.

PC: Off-Plan Properties in Dubai
The new investments are expected to generate recurring income of about AED 40 million per year, Union Properties said, revealing that it has retained a land bank boasting nearly 10 million square feet of GFA from its existing portfolio, giving it enough space for future development. The move suggests that the company remains quite confident about the property market in Dubai, which has shown resilience against the backdrop of heightened demand and sustained investor interest.
As part of its expansion strategy, Union Properties is set to launch two new mixed-use projects in Dubai. However, the company has not provided further details yet. Against the backdrop of the charter-mandated provision of residential and commercial space for the growing needs of the city, this declaration gives an insight into how earnest Union Properties has become in calibrating its growth.
This funding follows the unveiling of the AED 2 billion ‘Takaya’ project in October 2024 as part of the Motor City master development. This major project has been a watershed for the company, reiterating its commitment to providing high-Quality developments in Dubai. Since Motor City boasts carefully thought-out infrastructure and mixed-use spaces, it remains a prime area for real estate development in the city.
With this financial backing, Union Properties is poised to further solidify its position within Dubai’s highly competitive real estate market. The city has consistently attracted numerous real estate investments, which is driven by the country’s robust economic growth, favorable conditions for investors, as well as the strong demand for both residential and office properties. Given the ongoing developments within the company, it aims to leverage this thriving economic environment to enhance its standing in Dubai’s real estate sector. By capitalizing on these favorable market conditions, Union Properties seeks to strengthen its foothold and reinforce its presence in the industry.