Artificial Intelligence
Builders Company
Developers/Union Properties
UP
Union PropertiesDubai, United Arab Emirates · founded 1987 · 1 active markets
PUBLIC LISTED

Union Properties develops residential, commercial, retail, hospitality and master-planned communities in Dubai, serving residents, businesses, investors and visitors through property development, sales, investment, operations and related services.

Years in business
39
founded 1987
LinkedIn headcount
548; over 6,000
employees, as shown on LinkedIn
Portfolio value
AED 2 billion
2024
Units delivered
over 10,000
as the company states it
Projects last researched October 8, 2026
Every figure on this card was read out of a document.

Overview

Investor tear sheet

a summary of the tabs that follow · no rating of our own

Company dossier

Legal name
Union Properties PJSC1
Headquarters
Union Business Park 1, Green Community East, Dubai Investment Park 11, Dubai1, UAE
Founded
19871
Entity type
PUBLIC LISTED1
Business model
commercial, mixed use, masterplan
Markets
1 market listed
What they build
Industrial (2 of 3) · Residential, for sale (1 of 3) · Retail (1 of 3)
Full dossier in About →

Delivery record

1 date-assessed of 3 projects
Unverified by developer

AI-researched delivery record, not yet confirmed by the developer. Dates may be approximate; original sources are linked.

Completed projects from 2016-10-15 through 2026-10-15, with sufficient delivery-date evidence. Date assessment and developer profile verification do not mean an independent audit of every source. Original source links and available snippets are provided. May not represent the developer’s full portfolio. 1 undated and 0 boundary-uncertain completions are excluded. Delivery exceptions are listed separately under Projects.
Completed projects assessed
3
within the rolling ten-year window
Median delay
+11.5 mo
the middle of 1 scored project
Average delay
+11.5 mo
the same projects, pulled by the worst
Average time to deliver
—
1 delivered project with a dated start — needs 3
Worst slip
+11.5 mo
Green Community West Extension Phase III · +6.0 to +17.0
0
early or less than 6 months late
6 to 12 months late
1
yellow rows below
Over 12 months late
0
red rows below

Against other developers

1 date-assessed project here
Not enough info yet.
Projects and timelines in Track Record →

Resident experience

2 of 3 buildings rated · scale 1–10

AI research over published reviews and resident comments. Scores are a model’s reading of opinion, not figures stated on a page, and nothing here feeds any number above it. The links under each block are the pages that research says it used. Based on available resident reviews of covered buildings. These are reported experiences, not independent building inspections, and may not represent all residents or properties.

Overall verdict
7.7/ 10
Weighted judgment across build and operations · from 2 of 2 rated buildings
Little structure evidence (1 of 2 buildings) — this rests mainly on whole-building and living reviews.
Structure & systems
5.5/ 10
Fabric, services, waterproofing, envelope · from 1 of 2 rated buildings
Management & living
7.7/ 10
Upkeep, response times, amenities, community · from 2 of 2 rated buildings

Against other developers

not enough rated buildings yet
Not enough rated buildings in United Arab Emirates yet to compare against.
Ratings by building →

Awards & recognition

All awards →

Risks & source coverage

  • ALLEGATION 6 March 2026 judgment, concerning events from 2018 through 2021 Union Properties’ 2026 ADGM judgment records that the company and its wholly owned UPP Capital subsidiary were victims of a substantial alleged fraud involving the unauthorised use of AED 320.7 million, false investment reports and diversion of proceeds; the court records default judgments against several defendants, while dismissing the claims against other defendants and does not establish wrongdoing by Union Properties itself.
  • REGULATORY 24 October 2021 The UAE Attorney General announced a federal investigation following a securities-regulator complaint into alleged financial violations by Union Properties’ chairman and officials, including an alleged below-value asset sale, concealment of the beneficiary and document forgery; the allegations were reported as an investigation, not a final finding against the company.
  • FINANCIAL DISTRESS 30 June 2022 financial position; statements authorised 4 August 2022 Union Properties’ interim financial statements reported accumulated losses exceeding 50% of issued share capital, current liabilities exceeding current assets by AED 1.329 billion, and the need for a restructuring plan approved by the General Assembly to continue operations.
  • 6 more in Risk & Sources
Record status
active
Company sources
115 source entries across 115 fields
Projects tracked
4 · 3 completed in assessment
All flags and sources →

Track Record

Delivery record

1 date-assessed of 3 projects
Unverified by developer

AI-researched delivery record, not yet confirmed by the developer. Dates may be approximate; original sources are linked.

Completed projects from 2016-10-15 through 2026-10-15, with sufficient delivery-date evidence. Date assessment and developer profile verification do not mean an independent audit of every source. Original source links and available snippets are provided. May not represent the developer’s full portfolio. 1 undated and 0 boundary-uncertain completions are excluded. Delivery exceptions are listed separately under Projects.
Completed projects assessed
3
within the rolling ten-year window
Median delay
+11.5 mo
the middle of 1 scored project
Average delay
+11.5 mo
the same projects, pulled by the worst
Average time to deliver
—
1 delivered project with a dated start — needs 3
Worst slip
+11.5 mo
Green Community West Extension Phase III · +6.0 to +17.0
0
early or less than 6 months late
6 to 12 months late
1
yellow rows below
Over 12 months late
0
red rows below

Against other developers

1 date-assessed project here
Not enough info yet.

Construction start to handover

3 of 3 projects dated · 1 place
Based on covered projects with documented construction or launch dates and available handover dates. Timelines vary by project and may not represent the developer’s full portfolio.
Construction start, or the launchTarget completion (window)Completion or handover, as reportedCurrently statedLaunch year only, no date publishedEarly or ≤6 mo lateOver 6–12 mo lateOver 12 mo lateStalled
Dubai, United Arab Emirates
2015201620172018201920202021202220232024202520262027todayDUBAI, UNITED ARAB EMIRATES+20 moestimated+18 moestimated+11.5 moverified
Click a row in the chart to open a project, or a table row below to see its sources. The chart runs wider than the page where the record spans many years — scroll it sideways to follow a project to its handover. Every date we have is drawn. A hollow marker is only a launch year, not a date anyone published. No dates published means we looked and found none; dates not yet checked means we have not looked yet. Handing over is not finished — rows say which. A delay is shown when one source gives the promised date and another gives the real one, however rough: "2019" still counts, and the row shows how wide that is. Projects missing one of the two dates, or with sources that disagree, are left out of the figures. 1 turned out to be about something else — a phase, a neighbour, the wider masterplan — and is marked off-subject.

Building & Livability Ratings

Resident experience

2 of 3 buildings rated · scale 1–10

AI research over published reviews and resident comments. Scores are a model’s reading of opinion, not figures stated on a page, and nothing here feeds any number above it. The links under each block are the pages that research says it used. Based on available resident reviews of covered buildings. These are reported experiences, not independent building inspections, and may not represent all residents or properties.

Overall verdict
7.7/ 10
Weighted judgment across build and operations · from 2 of 2 rated buildings
Little structure evidence (1 of 2 buildings) — this rests mainly on whole-building and living reviews.
Structure & systems
5.5/ 10
Fabric, services, waterproofing, envelope · from 1 of 2 rated buildings
Management & living
7.7/ 10
Upkeep, response times, amenities, community · from 2 of 2 rated buildings

Against other developers

not enough rated buildings yet
Not enough rated buildings in United Arab Emirates yet to compare against.

By building

2 rated · 1 not rated · scale 1–10
ProjectOverallStructure & systemsManagement & living
Dubai Autodrome Business Park Phase 2Motor City, Dubai7 units
9.8/ 10
—/ 10
9.8/ 10

The only building-specific aggregate located is 2GIS’s 4.9/5 from 17 ratings, which sets the anchor and converts to 9.8/10 under the stated curve. No recurring building complaints or praise were established, and no physical-condition evidence supports a structure score; the high result should be treated cautiously because the listing is a commercial-place rating rather than a residential review base.

Not found in sources: No published structural evidence · No published plumbing evidence · No published HVAC evidence · No published electrical evidence · No published leak evidence · No published structural evidence · No published plumbing evidence · No published HVAC evidence · No published electrical evidence · No published leak evidence
+ Motorsport-oriented location+ Businesses operating on site+ Published place rating+ Convenient track proximity
Not found in sources: No recurring resident praise established · No resident reviews found · No management feedback found · No amenity ratings found · No security feedback found · No common-area upkeep feedback found

no notes returned

no links returned

The available material describes Phase 2 as a purpose-built, motorsport-related commercial facility rather than a residential building. A 2GIS listing reports the Business Park at 4.9/5 from 17 ratings, but no resident or tenant-management comments for Phase 2 were available to establish a day-to-day living experience; individual business reviews in the park concern those businesses, not the building.

Green Community West Extension Phase IIIDubai Investments Park, Dubai226 units
5.5/ 10
5.5/ 10
5.5/ 10

FlatReviews.com is the only located published aggregate rating specifically for Green Community West, the cluster containing the Phase III area, and it reports 1.5/5 from 2 resident reviews. Because the anchor has fewer than 10 reviews, the score is kept within one point of 6.5 rather than treating the tiny aggregate as decisive; the reported severe flooding and infrastructure complaints still support a below-midpoint assessment, while greenery and atmosphere provide countervailing evidence. Completion/status evidence is separate from review evidence: the project pages report completion, but old flood reporting does not establish the current condition as of 2026-10-08.

+ Green landscaped setting+ Date palms and gardens+ Well-kept pool referenced in wider-community reviews+ Attractive villa environment+ Family-oriented open spaces
− Flooding and inadequate drainage− Roof and door leakage− Persistent AC problems− Molded water tank and weak hot-water pressure− Dust and sand entering through balcony-door gaps
+ Greenery+ Gardens and tree shade+ Quiet or isolated family environment+ Pleasant compound atmosphere+ Swimming-pool amenity
− Slow or ineffective maintenance− Weak management responsiveness− Noise− Crows and stray cats− Limited support for residents with problems

Published resident feedback reports serious physical-condition problems in the West/Phase 3 area. One review says the community had “no drainages,” that 100 families were evacuated, and that six weeks later some could not return; another reports AC failure, a molded water tank, roof and door leakage, and inadequate hot-water pressure. The National separately reported ankle-deep floodwater, missing drain covers, rats and sewage in Green Community West in March 2016, but that is historical event reporting rather than a current condition assessment.

Residents praise the greenery and one reviewer described the compound atmosphere as “excellent,” with gardens, tree shade and birds; another called the villas elegant and suitable for family life. Operational feedback is materially less positive: a resident wrote that “Management doesn’t fix the problems,” while FlatReviews records “Lack of maintenance, responsibility” and residents having to clean up themselves after flooding.

Only buildings that have reached handover are rated. 1 of 3 projects carries no rating: a building still under construction is never asked about, one that has just been handed over may not have been reached yet, and the rest were asked about and no published resident commentary was found. Structure is fixed at handover and stays the developer's; management and living belongs to whoever runs the building now. The overall verdict weights both rather than averaging them. None of this is checked: a rating is what people published about a building, aggregated — it is not evidence, it cannot move a delay figure, and it is not part of the delivery record above.

About

Company dossier

Legal name
Union Properties PJSC
Headquarters
Union Business Park 1, Green Community East, Dubai Investment Park 1, Dubai, UAE
P.O. Box 24649
Founded
1987
Dubai, United Arab Emirates
Entity type
PUBLIC LISTED
Revenue
AED 736.9 million
fiscal year 2025
Business model
commercial, mixed use, masterplan

Partners

2 partners
China State Construction Middle East
contractor

CSCEC ME was awarded the main construction contract for OIA Residences.

Roads and Transport Authority
government partner

Sources: name

CONTRACTOR2017-09-11

CSCEC ME Signed MoU with Union Properties

China State Construction Middle East · carried by cscec.ae
Union Properties awarded the main construction contract for OIA Residences in MotorCity to CSCEC ME in 2016.
value seen: China State Construction Middle East
held out of the figures · the quote does not carry this value
https://www.cscec.ae/cscec-me-signed-mou-with-union-properties/

Sources: partner type

CONTRACTOR2017-09-11

CSCEC ME Signed MoU with Union Properties

China State Construction Middle East · carried by cscec.ae
Union Properties awarded the main construction contract for OIA Residences in MotorCity to CSCEC ME in 2016.
value seen: CONTRACTOR
value paraphrased from this source
https://www.cscec.ae/cscec-me-signed-mou-with-union-properties/

Sources: summary

CONTRACTOR2017-09-11

CSCEC ME Signed MoU with Union Properties

China State Construction Middle East · carried by cscec.ae
Union Properties awarded the main construction contract for OIA Residences in MotorCity to CSCEC ME in 2016.
value seen: CSCEC ME was awarded the main construction contract for OIA Residences.
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://www.cscec.ae/cscec-me-signed-mou-with-union-properties/

Sources: name

COMPANY2026-03-25

RTA Signs agreement with Union Properties to Regulate and Manage Road Right-of-Way

Dubai Government Media Office
RTA has signed a cooperation agreement with Union Properties PJSC aimed at strengthening collaboration in the management and regulation of road right-of-way within Union Properties’ development areas.
value seen: Roads and Transport Authority
held out of the figures · the quote does not carry this value
https://mediaoffice.ae/en/news/2026/march/25-03/rta-signs-cooperation-agreement-with-union-properties

Registrations & licences

none found
Jurisdiction-agnostic: a DLD number, a Companies House number and a state RERA registration all land in the same table.

Contact

Markets

1 countries
United Arab Emiratesactive 3 projects tracked

What they build

3 types
Industrial2 of 3
Residential, for sale1 of 3
Retail1 of 3
A project counts once under each type it carries, so the shares add to more than the project count.

Management

Principals & executives

6 names found
SN
Shaikh Nasser Rashid Almoalla
Shaikh Nasser Rashid Almoalla is the company’s chairman and a long-serving UAE banking, insurance and investment-sector leader. His documented outside roles include board membership at National Bank of Umm Al Qaiwain and chairmanship of Union Insurance Company; he previously founded Umm Al Qaiwain General Investments Company.
Current title
Chairman
Experience
no career length stated
Companies before
National Bank of Umm Al QaiwainUmm Al Qaiwain General Investments CompanyUnion Insurance CompanySharjah Insurance CompanyRas Al Khaimah Co. for White Cement and Construction Materials
Education
Tulane UniversityBachelor’s degree
Other boards
Member, National Bank of Umm Al QaiwainChairman, Union Insurance Company
Known for
ChairmanFounderBankingInsuranceInvestment

Sources: degree

COMPANYdate not shown in source

Shaikh Nasser Rashid Almoalla – Union Properties

Union Properties · carried by up.ae
Shaikh Nasser holds a Bachelor’s degree from the Tulane University in New Orleans, Louisiana.
value seen: Bachelor’s degree
https://up.ae/about-us/shaikh-nasser-rashid-almoalla/

Sources: institution

COMPANYdate not shown in source

Shaikh Nasser Rashid Almoalla – Union Properties

Union Properties · carried by up.ae
Shaikh Nasser holds a Bachelor’s degree from the Tulane University in New Orleans, Louisiana.
value seen: Tulane University
https://up.ae/about-us/shaikh-nasser-rashid-almoalla/

Sources: full name

COMPANYdate not shown in source

Shaikh Nasser Rashid Almoalla – Union Properties

Union Properties · carried by up.ae
## Chairman ## Shaikh Nasser Rashid Almoalla
value seen: Shaikh Nasser Rashid Almoalla
https://up.ae/about-us/shaikh-nasser-rashid-almoalla/

Sources: other boards

COMPANYdate not shown in source

Shaikh Nasser Rashid Almoalla – Union Properties

Union Properties · carried by up.ae
he remains a member of the Board of Directors of NBQ
value seen: Member, National Bank of Umm Al Qaiwain
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://up.ae/about-us/shaikh-nasser-rashid-almoalla/

Sources: other boards

COMPANYdate not shown in source

Shaikh Nasser Rashid Almoalla – Union Properties

Union Properties · carried by up.ae
he has been serving as Chairman of the Board of Directors of Union Insurance Company since 2021.
value seen: Chairman, Union Insurance Company
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://up.ae/about-us/shaikh-nasser-rashid-almoalla/

Sources: previous companies

COMPANYdate not shown in source

Shaikh Nasser Rashid Almoalla – Union Properties

Union Properties · carried by up.ae
Shaikh Nasser served as Vice Chairman of the Board of Directors of National Bank of Umm Al Qaiwain from 1982 until 2026
value seen: National Bank of Umm Al Qaiwain
https://up.ae/about-us/shaikh-nasser-rashid-almoalla/

Sources: previous companies

COMPANYdate not shown in source

Shaikh Nasser Rashid Almoalla – Union Properties

Union Properties · carried by up.ae
He is the Founder and former Vice Chairman of the Board of Directors of Umm Al Qaiwain General Investments Company
value seen: Umm Al Qaiwain General Investments Company
https://up.ae/about-us/shaikh-nasser-rashid-almoalla/

Sources: previous companies

COMPANYdate not shown in source

Shaikh Nasser Rashid Almoalla – Union Properties

Union Properties · carried by up.ae
In addition, he has been serving as Chairman of the Board of Directors of Union Insurance Company since 2021.
value seen: Union Insurance Company
https://up.ae/about-us/shaikh-nasser-rashid-almoalla/

Sources: previous companies

COMPANYdate not shown in source

Shaikh Nasser Rashid Almoalla – Union Properties

Union Properties · carried by up.ae
He also held the position of Vice Chairman of the Board of Directors of Sharjah Insurance Company from 2000 until April 2021.
value seen: Sharjah Insurance Company
https://up.ae/about-us/shaikh-nasser-rashid-almoalla/

Sources: previous companies

COMPANYdate not shown in source

Shaikh Nasser Rashid Almoalla – Union Properties

Union Properties · carried by up.ae
Shaikh Nasser further served as a Board Member of Ras Al Khaimah Co. for White Cement and Construction Materials from 2018 until 2022.
value seen: Ras Al Khaimah Co. for White Cement and Construction Materials
https://up.ae/about-us/shaikh-nasser-rashid-almoalla/

Sources: summary

COMPANYdate not shown in source

Shaikh Nasser Rashid Almoalla – Union Properties

Union Properties · carried by up.ae
Shaikh Nasser Rashid Almoalla is a distinguished leader with decades of experience in the banking, insurance, and investment sectors in the United Arab Emirates.
value seen: distinguished leader with decades of experience in the banking, insurance, and investment sectors in the United Arab Emirates
https://up.ae/about-us/shaikh-nasser-rashid-almoalla/

Sources: tags

COMPANYdate not shown in source

Shaikh Nasser Rashid Almoalla – Union Properties

Union Properties · carried by up.ae
## Chairman ## Shaikh Nasser Rashid Almoalla
value seen: Chairman
https://up.ae/about-us/shaikh-nasser-rashid-almoalla/

Sources: tags

COMPANYdate not shown in source

Shaikh Nasser Rashid Almoalla – Union Properties

Union Properties · carried by up.ae
He is the Founder and former Vice Chairman of the Board of Directors of Umm Al Qaiwain General Investments Company
value seen: Founder
https://up.ae/about-us/shaikh-nasser-rashid-almoalla/

Sources: tags

COMPANYdate not shown in source

Shaikh Nasser Rashid Almoalla – Union Properties

Union Properties · carried by up.ae
Shaikh Nasser Rashid Almoalla is a distinguished leader with decades of experience in the banking, insurance, and investment sectors in the United Arab Emirates.
value seen: Banking
https://up.ae/about-us/shaikh-nasser-rashid-almoalla/

Sources: tags

COMPANYdate not shown in source

Shaikh Nasser Rashid Almoalla – Union Properties

Union Properties · carried by up.ae
In addition, he has been serving as Chairman of the Board of Directors of Union Insurance Company since 2021.
value seen: Insurance
https://up.ae/about-us/shaikh-nasser-rashid-almoalla/

Sources: tags

COMPANYdate not shown in source

Shaikh Nasser Rashid Almoalla – Union Properties

Union Properties · carried by up.ae
Shaikh Nasser Rashid Almoalla is a distinguished leader with decades of experience in the banking, insurance, and investment sectors in the United Arab Emirates.
value seen: Investment
https://up.ae/about-us/shaikh-nasser-rashid-almoalla/

Sources: title

COMPANYdate not shown in source

Shaikh Nasser Rashid Almoalla – Union Properties

Union Properties · carried by up.ae
## Chairman ## Shaikh Nasser Rashid Almoalla
value seen: Chairman
https://up.ae/about-us/shaikh-nasser-rashid-almoalla/
MA
Mohamed Al Fardan
Mohamed Al Fardan is Union Properties’ vice chairman. The company describes him as a UAE and Middle East property-management, investment and hospitality executive with more than 19 years’ experience, alongside current leadership roles across the Al Fardan group and related investment businesses.
Current title
Vice Chairman
Experience
19+ years property/investment/hospitality
Companies before
Al Fardan PTC Holding LLCAl Fardan Holdings LLCAlfardan Group LLCAlfardan Real Estates LLCThe First Investor LLC
Education
Ajman University of Science and TechnologyBachelor’s degree in Business Administration
Other boards
Chairman, ALF INVESTMENTS LLCPartner, AlFardan Asset Management LLC
Known for
Vice ChairmanBusiness Administration

Sources: degree

COMPANYdate not shown in source

Mohamed Al Fardan – Union Properties

Union Properties · carried by up.ae
He holds a Bachelor’s degree in Business Administration from Ajman University of Science and Technology.
value seen: Bachelor’s degree in Business Administration
https://up.ae/about-us/mohamed-al-fardan/

Sources: institution

COMPANYdate not shown in source

Mohamed Al Fardan – Union Properties

Union Properties · carried by up.ae
He holds a Bachelor’s degree in Business Administration from Ajman University of Science and Technology.
value seen: Ajman University of Science and Technology
https://up.ae/about-us/mohamed-al-fardan/

Sources: full name

COMPANYdate not shown in source

Mohamed Al Fardan – Union Properties

Union Properties · carried by up.ae
## Vice Chairman ## Mohamed Al Fardan
value seen: Mohamed Al Fardan
https://up.ae/about-us/mohamed-al-fardan/

Sources: other boards

COMPANYdate not shown in source

Mohamed Al Fardan – Union Properties

Union Properties · carried by up.ae
- Chairman, ALF INVESTMENTS LLC
value seen: Chairman, ALF INVESTMENTS LLC
https://up.ae/about-us/mohamed-al-fardan/

Sources: other boards

COMPANYdate not shown in source

Mohamed Al Fardan – Union Properties

Union Properties · carried by up.ae
- Partner, AlFardan Asset Management LLC
value seen: Partner, AlFardan Asset Management LLC
https://up.ae/about-us/mohamed-al-fardan/

Sources: previous companies

COMPANYdate not shown in source

Mohamed Al Fardan – Union Properties

Union Properties · carried by up.ae
Managing Director, Al Fardan PTC Holding LLC
value seen: Al Fardan PTC Holding LLC
https://up.ae/about-us/mohamed-al-fardan/

Sources: previous companies

COMPANYdate not shown in source

Mohamed Al Fardan – Union Properties

Union Properties · carried by up.ae
Managing Director, Al Fardan Holdings LLC
value seen: Al Fardan Holdings LLC
https://up.ae/about-us/mohamed-al-fardan/

Sources: previous companies

COMPANYdate not shown in source

Mohamed Al Fardan – Union Properties

Union Properties · carried by up.ae
Managing Director, Alfardan Group LLC
value seen: Alfardan Group LLC
https://up.ae/about-us/mohamed-al-fardan/

Sources: previous companies

COMPANYdate not shown in source

Mohamed Al Fardan – Union Properties

Union Properties · carried by up.ae
Managing Director, Alfardan Real Estates LLC
value seen: Alfardan Real Estates LLC
https://up.ae/about-us/mohamed-al-fardan/

Sources: previous companies

COMPANYdate not shown in source

Mohamed Al Fardan – Union Properties

Union Properties · carried by up.ae
Managing Director, The First Investor LLC
value seen: The First Investor LLC
https://up.ae/about-us/mohamed-al-fardan/

Sources: summary

COMPANYdate not shown in source

Mohamed Al Fardan – Union Properties

Union Properties · carried by up.ae
Mr. Mohamed Al Fardan is a distinguished business leader and visionary executive with over 19 years of proven expertise in property management, investment, and hospitality across the United Arab Emirates and the wider Middle East region.
value seen: over 19 years of proven expertise in property management, investment, and hospitality
https://up.ae/about-us/mohamed-al-fardan/

Sources: tags

COMPANYdate not shown in source

Mohamed Al Fardan – Union Properties

Union Properties · carried by up.ae
## Vice Chairman ## Mohamed Al Fardan
value seen: Vice Chairman
https://up.ae/about-us/mohamed-al-fardan/

Sources: tags

COMPANYdate not shown in source

Mohamed Al Fardan – Union Properties

Union Properties · carried by up.ae
Mr. Mohamed Al Fardan is a distinguished business leader and visionary executive with over 19 years of proven expertise in property management, investment, and hospitality across the United Arab Emirates and the wider Middle East region.
value seen: over 19 years of proven expertise in property management, investment, and hospitality
https://up.ae/about-us/mohamed-al-fardan/

Sources: tags

COMPANYdate not shown in source

Mohamed Al Fardan – Union Properties

Union Properties · carried by up.ae
He holds a Bachelor’s degree in Business Administration from Ajman University of Science and Technology.
value seen: Bachelor’s degree in Business Administration
https://up.ae/about-us/mohamed-al-fardan/

Sources: title

COMPANYdate not shown in source

Mohamed Al Fardan – Union Properties

Union Properties · carried by up.ae
## Vice Chairman ## Mohamed Al Fardan
value seen: Vice Chairman
https://up.ae/about-us/mohamed-al-fardan/
AS
Ahmed Salem Abdulla Salem Alhosani
Ahmed Salem Abdulla Salem Alhosani is a Union Properties board member with more than 16 years’ experience across public and private sectors, focused on real estate and investment. He also holds board roles at several UAE-listed companies, including Sharjah Insurance Company, Gulf Medical Projects Company and Dubai Investments.
Current title
Board Member
Experience
16+ years real estate/investment
Companies before
none sourced
Education
University of WalesMaster’s degree in Business Management
American University in DubaiBachelor’s degree in Business Administration
Other boards
Vice Chairman, Sharjah Insurance Company PJSCBoard member, Gulf Medical Projects Company PJSCBoard member, Dubai Investments PJSC
Known for
Board MemberListed-company boardsGovernance

Sources: degree

COMPANYdate not shown in source

Ahmed Salem Abdulla Salem Alhosani – Union Properties

Union Properties · carried by up.ae
He holds a Master’s degree in Business Management from University of Wales and a Bachelor’s degree in Business Administration from American University in Dubai.
value seen: Master’s degree in Business Management
https://up.ae/about-us/mr-ahmed-salem-abdulla/

Sources: institution

COMPANYdate not shown in source

Ahmed Salem Abdulla Salem Alhosani – Union Properties

Union Properties · carried by up.ae
He holds a Master’s degree in Business Management from University of Wales and a Bachelor’s degree in Business Administration from American University in Dubai.
value seen: University of Wales
https://up.ae/about-us/mr-ahmed-salem-abdulla/

Sources: degree

COMPANYdate not shown in source

Ahmed Salem Abdulla Salem Alhosani – Union Properties

Union Properties · carried by up.ae
He holds a Master’s degree in Business Management from University of Wales and a Bachelor’s degree in Business Administration from American University in Dubai.
value seen: Bachelor’s degree in Business Administration
https://up.ae/about-us/mr-ahmed-salem-abdulla/

Sources: institution

COMPANYdate not shown in source

Ahmed Salem Abdulla Salem Alhosani – Union Properties

Union Properties · carried by up.ae
He holds a Master’s degree in Business Management from University of Wales and a Bachelor’s degree in Business Administration from American University in Dubai.
value seen: American University in Dubai
https://up.ae/about-us/mr-ahmed-salem-abdulla/

Sources: full name

COMPANYdate not shown in source

Ahmed Salem Abdulla Salem Alhosani – Union Properties

Union Properties · carried by up.ae
## Board Member ## Ahmed Salem Abdulla Salem Alhosani
value seen: Ahmed Salem Abdulla Salem Alhosani
https://up.ae/about-us/mr-ahmed-salem-abdulla/

Sources: other boards

COMPANYdate not shown in source

Ahmed Salem Abdulla Salem Alhosani – Union Properties

Union Properties · carried by up.ae
including Sharjah Insurance Company PJSC (Vice Chairman), Gulf Medical Projects Company PJSC, and Dubai Investments PJSC.
value seen: Vice Chairman, Sharjah Insurance Company PJSC
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://up.ae/about-us/mr-ahmed-salem-abdulla/

Sources: other boards

COMPANYdate not shown in source

Ahmed Salem Abdulla Salem Alhosani – Union Properties

Union Properties · carried by up.ae
including Sharjah Insurance Company PJSC (Vice Chairman), Gulf Medical Projects Company PJSC, and Dubai Investments PJSC.
value seen: Board member, Gulf Medical Projects Company PJSC
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://up.ae/about-us/mr-ahmed-salem-abdulla/

Sources: other boards

COMPANYdate not shown in source

Ahmed Salem Abdulla Salem Alhosani – Union Properties

Union Properties · carried by up.ae
including Sharjah Insurance Company PJSC (Vice Chairman), Gulf Medical Projects Company PJSC, and Dubai Investments PJSC.
value seen: Board member, Dubai Investments PJSC
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://up.ae/about-us/mr-ahmed-salem-abdulla/

Sources: summary

COMPANYdate not shown in source

Ahmed Salem Abdulla Salem Alhosani – Union Properties

Union Properties · carried by up.ae
He brings over 16 years of experience across both public and private sectors, with a strong focus on real estate and investment.
value seen: over 16 years of experience across both public and private sectors, with a strong focus on real estate and investment
https://up.ae/about-us/mr-ahmed-salem-abdulla/

Sources: tags

COMPANYdate not shown in source

Ahmed Salem Abdulla Salem Alhosani – Union Properties

Union Properties · carried by up.ae
## Board Member ## Ahmed Salem Abdulla Salem Alhosani
value seen: Board Member
https://up.ae/about-us/mr-ahmed-salem-abdulla/

Sources: tags

COMPANYdate not shown in source

Ahmed Salem Abdulla Salem Alhosani – Union Properties

Union Properties · carried by up.ae
He brings over 16 years of experience across both public and private sectors, with a strong focus on real estate and investment.
value seen: over 16 years of experience across both public and private sectors, with a strong focus on real estate and investment
https://up.ae/about-us/mr-ahmed-salem-abdulla/

Sources: tags

COMPANYdate not shown in source

Ahmed Salem Abdulla Salem Alhosani – Union Properties

Union Properties · carried by up.ae
He also serves on the boards of leading UAE-listed companies, including Sharjah Insurance Company PJSC (Vice Chairman), Gulf Medical Projects Company PJSC, and Dubai Investments PJSC.
value seen: boards of leading UAE-listed companies
https://up.ae/about-us/mr-ahmed-salem-abdulla/

Sources: tags

COMPANYdate not shown in source

Ahmed Salem Abdulla Salem Alhosani – Union Properties

Union Properties · carried by up.ae
leveraging his expertise in strategic leadership and corporate governance to support long-term value creation.
value seen: strategic leadership and corporate governance
https://up.ae/about-us/mr-ahmed-salem-abdulla/

Sources: title

COMPANYdate not shown in source

Ahmed Salem Abdulla Salem Alhosani – Union Properties

Union Properties · carried by up.ae
## Board Member ## Ahmed Salem Abdulla Salem Alhosani
value seen: Board Member
https://up.ae/about-us/mr-ahmed-salem-abdulla/
AB
Ahmed bin Mohammed Al Qassimi
Ahmed bin Mohammed Al Qassimi is a Union Properties board member and the vice chairman and chief executive officer of SAAS Holdings, SAAS Properties and SAAS Investments. The company says he founded that group in 2019 and has led UAE luxury-residential, hospitality and mixed-use retail developments.
Current title
Board Member
Experience
no career length stated
Companies before
none sourced
Education
Suffolk University in BostonBachelor’s degree in Finance
Other boards
Vice Chairman and Chief Executive Officer, SAAS HoldingsVice Chairman and Chief Executive Officer, SAAS PropertiesVice Chairman and Chief Executive Officer, SAAS InvestmentsBoard member, Waha CapitalBoard member, AfkaarBoard member, Eco Drive
Known for
Board MemberFounder (2019)Real estate developmentFinance

Sources: degree

COMPANYdate not shown in source

Ahmed bin Mohammed Al Qassimi – Union Properties

Union Properties · carried by up.ae
Mr. Ahmed holds a Bachelor’s degree in Finance from Suffolk University in Boston.
value seen: Bachelor’s degree in Finance
https://up.ae/about-us/ahmed-bin-mohammed-al-qassimi/

Sources: institution

COMPANYdate not shown in source

Ahmed bin Mohammed Al Qassimi – Union Properties

Union Properties · carried by up.ae
Mr. Ahmed holds a Bachelor’s degree in Finance from Suffolk University in Boston.
value seen: Suffolk University in Boston
https://up.ae/about-us/ahmed-bin-mohammed-al-qassimi/

Sources: full name

COMPANYdate not shown in source

Ahmed bin Mohammed Al Qassimi – Union Properties

Union Properties · carried by up.ae
## Board Member ## Ahmed bin Mohammed Al Qassimi
value seen: Ahmed bin Mohammed Al Qassimi
https://up.ae/about-us/ahmed-bin-mohammed-al-qassimi/

Sources: other boards

COMPANYdate not shown in source

Ahmed bin Mohammed Al Qassimi – Union Properties

Union Properties · carried by up.ae
Mr. Ahmed also serves on the boards of several organizations, including Waha Capital, Afkaar, and Eco Drive
value seen: Board member, Waha Capital
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://up.ae/about-us/ahmed-bin-mohammed-al-qassimi/

Sources: other boards

COMPANYdate not shown in source

Ahmed bin Mohammed Al Qassimi – Union Properties

Union Properties · carried by up.ae
Mr. Ahmed also serves on the boards of several organizations, including Waha Capital, Afkaar, and Eco Drive
value seen: Board member, Afkaar
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://up.ae/about-us/ahmed-bin-mohammed-al-qassimi/

Sources: other boards

COMPANYdate not shown in source

Ahmed bin Mohammed Al Qassimi – Union Properties

Union Properties · carried by up.ae
Mr. Ahmed also serves on the boards of several organizations, including Waha Capital, Afkaar, and Eco Drive
value seen: Board member, Eco Drive
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://up.ae/about-us/ahmed-bin-mohammed-al-qassimi/

Sources: summary

COMPANYdate not shown in source

Ahmed bin Mohammed Al Qassimi – Union Properties

Union Properties · carried by up.ae
Mr. Ahmed bin Mohammed Al Qassimi is the Vice Chairman and Chief Executive Officer of SAAS Holdings, SAAS Properties, and SAAS Investments, based in Abu Dhabi.
value seen: Vice Chairman and Chief Executive Officer of SAAS Holdings, SAAS Properties, and SAAS Investments
https://up.ae/about-us/ahmed-bin-mohammed-al-qassimi/

Sources: tags

COMPANYdate not shown in source

Ahmed bin Mohammed Al Qassimi – Union Properties

Union Properties · carried by up.ae
## Board Member ## Ahmed bin Mohammed Al Qassimi
value seen: Board Member
https://up.ae/about-us/ahmed-bin-mohammed-al-qassimi/

Sources: tags

COMPANYdate not shown in source

Ahmed bin Mohammed Al Qassimi – Union Properties

Union Properties · carried by up.ae
Since founding the company in 2019, Mr. Ahmed has led the development and execution of high-end real estate projects across the UAE
value seen: Since founding the company in 2019
https://up.ae/about-us/ahmed-bin-mohammed-al-qassimi/

Sources: tags

COMPANYdate not shown in source

Ahmed bin Mohammed Al Qassimi – Union Properties

Union Properties · carried by up.ae
Since founding the company in 2019, Mr. Ahmed has led the development and execution of high-end real estate projects across the UAE
value seen: high-end real estate projects across the UAE
https://up.ae/about-us/ahmed-bin-mohammed-al-qassimi/

Sources: tags

COMPANYdate not shown in source

Ahmed bin Mohammed Al Qassimi – Union Properties

Union Properties · carried by up.ae
Mr. Ahmed holds a Bachelor’s degree in Finance from Suffolk University in Boston.
value seen: Bachelor’s degree in Finance
https://up.ae/about-us/ahmed-bin-mohammed-al-qassimi/

Sources: title

COMPANYdate not shown in source

Ahmed bin Mohammed Al Qassimi – Union Properties

Union Properties · carried by up.ae
## Board Member ## Ahmed bin Mohammed Al Qassimi
value seen: Board Member
https://up.ae/about-us/ahmed-bin-mohammed-al-qassimi/
HN
Hemant Narula
Hemant Narula is Union Properties’ CFO, responsible for finance disciplines including reporting, budgeting, forecasting, feasibility and investment analysis, and due diligence. The company says he has led real-estate and hospitality projects across the UAE, UK, Asia and Europe and previously held senior roles at Emaar Hospitality Group, Majid Al Futtaim Properties and SRG Group.
Current title
Chief Financial Officer
Experience
no career length stated
Companies before
Emaar Hospitality GroupMajid Al Futtaim PropertiesSRG Group
Education
not published
Other boards
none sourced
Known for
CFOFinancial reportingInvestment analysisReal estate and hospitality
https://linkedin.com/in/hemant-narula-63131a3

Sources: full name

COMPANYdate not shown in source

Hemant Narula – Union Properties

Union Properties · carried by up.ae
## Chief Financial Officer ## Hemant Narula
value seen: Hemant Narula
https://up.ae/about-us/hemant-narula/

Sources: linkedin page

SOCIAL2026-06-06

Hemant Narula

LinkedIn
# Hemant Narula United Arab Emirates (AE) 500 connections
value seen: https://linkedin.com/in/hemant-narula-63131a3
https://linkedin.com/in/hemant-narula-63131a3

Sources: previous companies

COMPANYdate not shown in source

Hemant Narula – Union Properties

Union Properties · carried by up.ae
Before joining Union Properties PJSC, he held senior roles in Emaar Hospitality Group, Majid Al Futtaim Properties and SRG Group
value seen: Emaar Hospitality Group
https://up.ae/about-us/hemant-narula/

Sources: previous companies

COMPANYdate not shown in source

Hemant Narula – Union Properties

Union Properties · carried by up.ae
Before joining Union Properties PJSC, he held senior roles in Emaar Hospitality Group, Majid Al Futtaim Properties and SRG Group
value seen: Majid Al Futtaim Properties
https://up.ae/about-us/hemant-narula/

Sources: previous companies

COMPANYdate not shown in source

Hemant Narula – Union Properties

Union Properties · carried by up.ae
Before joining Union Properties PJSC, he held senior roles in Emaar Hospitality Group, Majid Al Futtaim Properties and SRG Group
value seen: SRG Group
https://up.ae/about-us/hemant-narula/

Sources: summary

COMPANYdate not shown in source

Hemant Narula – Union Properties

Union Properties · carried by up.ae
Before joining Union Properties PJSC, he held senior roles in Emaar Hospitality Group, Majid Al Futtaim Properties and SRG Group, where he honed his expertise in the sector.
value seen: Before joining Union Properties PJSC, he held senior roles in Emaar Hospitality Group, Majid Al Futtaim Properties and SRG Group
https://up.ae/about-us/hemant-narula/

Sources: tags

COMPANYdate not shown in source

Hemant Narula – Union Properties

Union Properties · carried by up.ae
Hemant Narula, Chief Financial Officer (CFO) of Union Properties PJSC
value seen: CFO
https://up.ae/about-us/hemant-narula/

Sources: tags

COMPANYdate not shown in source

Hemant Narula – Union Properties

Union Properties · carried by up.ae
With exceptional expertise in financial reporting, budgeting and forecasting, feasibility and investment analysis, and financial due diligence
value seen: Financial reporting
https://up.ae/about-us/hemant-narula/

Sources: tags

COMPANYdate not shown in source

Hemant Narula – Union Properties

Union Properties · carried by up.ae
With exceptional expertise in financial reporting, budgeting and forecasting, feasibility and investment analysis, and financial due diligence
value seen: Investment analysis
https://up.ae/about-us/hemant-narula/

Sources: tags

COMPANYdate not shown in source

Hemant Narula – Union Properties

Union Properties · carried by up.ae
Hemant has spearheaded multiple Real Estate and hospitality projects across the UAE, the UK, Asia, and Europe
value seen: real estate and hospitality
https://up.ae/about-us/hemant-narula/

Sources: title

COMPANYdate not shown in source

Hemant Narula – Union Properties

Union Properties · carried by up.ae
## Chief Financial Officer ## Hemant Narula
value seen: Chief Financial Officer
https://up.ae/about-us/hemant-narula/
GR
Gary Reader
Gary Reader is Union Properties’ COO for subsidiaries, focused on operational efficiency, stakeholder value, innovation and sustainable development across the subsidiary portfolio. The company says he has more than 30 years’ experience in MEP, facilities and asset management and previously held roles at IMDAAD, BK Gulf and BK Gulf FM.
Current title
Chief Operating Officer for Subsidiaries
since January 2018
Experience
30+ years mep/facilities/asset management
Companies before
IMDAADBK GulfBK Gulf FM
Education
Aston University
East Birmingham College
Other boards
none sourced
Known for
COOSubsidiary operations
https://linkedin.com/in/gary-reader-56201819

Sources: institution

COMPANYdate not shown in source

Gary Reader – Union Properties

Union Properties · carried by up.ae
Mr. Reader received his education from Aston University and East Birmingham College.
value seen: Aston University
https://up.ae/about-us/gary-reader/

Sources: institution

COMPANYdate not shown in source

Gary Reader – Union Properties

Union Properties · carried by up.ae
Mr. Reader received his education from Aston University and East Birmingham College.
value seen: East Birmingham College
https://up.ae/about-us/gary-reader/

Sources: full name

COMPANYdate not shown in source

Gary Reader – Union Properties

Union Properties · carried by up.ae
## Chief Operating Officer for Subsidiaries ## Gary Reader
value seen: Gary Reader
https://up.ae/about-us/gary-reader/

Sources: linkedin page

SOCIAL2026-09-15

Gary Reader

LinkedIn
### Chief Operating Officer Subsidiaries - Union Properties PJSC (Current)
value seen: https://linkedin.com/in/gary-reader-56201819
https://linkedin.com/in/gary-reader-56201819

Sources: previous companies

COMPANYdate not shown in source

Gary Reader – Union Properties

Union Properties · carried by up.ae
Prior to Union Properties, Mr. Reader held prominent positions at renowned organizations such as IMDAAD, BK Gulf, and BK Gulf FM
value seen: IMDAAD
https://up.ae/about-us/gary-reader/

Sources: previous companies

COMPANYdate not shown in source

Gary Reader – Union Properties

Union Properties · carried by up.ae
Prior to Union Properties, Mr. Reader held prominent positions at renowned organizations such as IMDAAD, BK Gulf, and BK Gulf FM
value seen: BK Gulf
https://up.ae/about-us/gary-reader/

Sources: previous companies

COMPANYdate not shown in source

Gary Reader – Union Properties

Union Properties · carried by up.ae
Prior to Union Properties, Mr. Reader held prominent positions at renowned organizations such as IMDAAD, BK Gulf, and BK Gulf FM
value seen: BK Gulf FM
https://up.ae/about-us/gary-reader/

Sources: since

COMPANYdate not shown in source

Gary Reader – Union Properties

Union Properties · carried by up.ae
Our COO Gary Reader, a senior leader with over 30 years of experience in MEP, facilities and asset management, came to office in January 2018.
value seen: January 2018
https://up.ae/about-us/gary-reader/

Sources: summary

COMPANYdate not shown in source

Gary Reader – Union Properties

Union Properties · carried by up.ae
Our COO Gary Reader, a senior leader with over 30 years of experience in MEP, facilities and asset management, came to office in January 2018.
value seen: over 30 years of experience in MEP, facilities and asset management
https://up.ae/about-us/gary-reader/

Sources: tags

COMPANYdate not shown in source

Gary Reader – Union Properties

Union Properties · carried by up.ae
## Chief Operating Officer for Subsidiaries ## Gary Reader
value seen: COO
held out of the figures · the quote does not carry this value
https://up.ae/about-us/gary-reader/

Sources: tags

COMPANYdate not shown in source

Gary Reader – Union Properties

Union Properties · carried by up.ae
Our COO Gary Reader, a senior leader with over 30 years of experience in MEP, facilities and asset management, came to office in January 2018.
value seen: 30+ yrs MEP/facilities/asset management
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://up.ae/about-us/gary-reader/

Sources: tags

COMPANYdate not shown in source

Gary Reader – Union Properties

Union Properties · carried by up.ae
His focus is on operational efficiency and delivering exceptional value to both our clients and wider stakeholder groups, whilst fostering innovation and sustainable development across all our subsidiaries.
value seen: Subsidiary operations
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://up.ae/about-us/gary-reader/

Sources: title

COMPANYdate not shown in source

Gary Reader – Union Properties

Union Properties · carried by up.ae
## Chief Operating Officer for Subsidiaries ## Gary Reader
value seen: Chief Operating Officer for Subsidiaries
https://up.ae/about-us/gary-reader/

Projects

Assessment coverage

Completed projects: 2016-10-15 through 2026-10-15. Initial research is capped at 10 completed projects and a separate delivery-risk search capped at 7 findings. Risk findings are not project assessment counts. Absence is not proof of a complete portfolio or no failures. Month-level dates overlapping a boundary are excluded from figures.

1 undated completions and 0 boundary-uncertain completions are retained but excluded from figures.

Stalled, cancelled & overdue projects

0 evidenced cases
The capped delivery-risk search ran; no project-level exception cases are recorded here. Risk findings are listed under Risks and are separate from assessed projects. This does not establish that the developer has no delivery failures.

Completed projects

3 projects
ProjectLocationTypeUnitsFloorsAreaCostPayment planLaunchedConstruction startOriginal targetHandoverDelayConfidenceStatus
Dubai Autodrome Business Park Phase 2Dubai, United Arab Emirates
Motor City
industrial71——AED 16.5m
other
—2019June 2019Feb 2020Oct 2021+20.0 mo
(+20.0 to +20.0)
estimatedcompleted
Dubai Autodrome Business Park Phase 1Dubai, United Arab Emirates
Motor City
industrial121———5/50/512017March 2017Dec 2017Jun 2019+18.0 mo
(+18.0 to +18.0)
estimatedcompleted
Green Community West Extension Phase IIIDubai, United Arab Emirates
Dubai Investments Park
residential for sale, retail2261——AED 97m
other
—2015June 2015Jan 2017 – Dec 2017Jun 2018+11.5 mo
(+6.0 to +17.0)
sourcedcompleted
Click any row for the sources behind it. Cost basis matters: an estimated cost, a construction loan and a sale price are different numbers. Each row states which one it is, so they are never averaged together.

Awards

Awards & recognition

6 found
PROJECT AWARD Winner June 24, 2026
Community Masterplan of the Year · MotorCity
MotorCity – Union Properties PJSC was named the winner of Community Masterplan of the Year at the 2026 CW Property Awards.
PROJECT AWARD Winner April 29, 2025
Smart and Sustainable Project of the Year · Takaya
Takaya by Union Properties was listed as the winner of Smart and Sustainable Project of the Year at the UAE Realty Awards 2025.
Finance World Magazine / UAE Realty Awards · https://thefinanceworld.com/uae-realty-awards-2025-winners/
RANKING Ranked September 4, 2023
Top 50 GCC Developers 2023
Union Properties was included in Construction Week Middle East’s Top 50 GCC Developers 2023 list, which assessed project activity, awarded contracts, corporate responsibility and sustainability.
RECOGNITION Winner 2023
Exceptional Contribution Award
The developer reports that Union Properties received the Exceptional Contribution Award at the REM Times Realty Confex & Awards; the available source is the company’s 2023 annual report, so current status beyond the 2023 award is not established.
PROJECT AWARD Winner June 15, 2011 (winner announced); award ceremony November 3, 2011
Best Tall Building — Middle East & Africa · The Index
The Index in Dubai won the CTBUH 2011 regional Best Tall Building award, with Union Properties identified as the owner/developer.
COMPANY AWARD Winner November 2005
Property Company of the Year
Union Properties PJSC was named Property Company of the Year at the Arabian Business Awards 2005, an older recognition that remains a documented defining company accolade.

Risks

Auditor & credit ratings

audited accounts
AuditorGrant Thornton Audit and Accounting Limited (Dubai Branch)

Risk flags

9 found
ALLEGATION 6 March 2026 judgment, concerning events from 2018 through 2021
Union Properties’ 2026 ADGM judgment records that the company and its wholly owned UPP Capital subsidiary were victims of a substantial alleged fraud involving the unauthorised use of AED 320.7 million, false investment reports and diversion of proceeds; the court records default judgments against several defendants, while dismissing the claims against other defendants and does not establish wrongdoing by Union Properties itself.
REGULATORY 24 October 2021
The UAE Attorney General announced a federal investigation following a securities-regulator complaint into alleged financial violations by Union Properties’ chairman and officials, including an alleged below-value asset sale, concealment of the beneficiary and document forgery; the allegations were reported as an investigation, not a final finding against the company.
FINANCIAL DISTRESS 30 June 2022 financial position; statements authorised 4 August 2022
Union Properties’ interim financial statements reported accumulated losses exceeding 50% of issued share capital, current liabilities exceeding current assets by AED 1.329 billion, and the need for a restructuring plan approved by the General Assembly to continue operations.
FINANCIAL DISTRESS 18 October 2022
The company disclosed that it completed a AED 595 million debt restructuring, including repayment of AED 223 million to lenders, as part of a turnaround plan.
PROJECT CANCELLED Abandonment during the earlier financial crisis; reported 28 March 2022
A report states that Union Properties abandoned construction of a planned $460 million Formula One theme park in Motor City during the earlier Dubai property crisis; this is an older matter retained because the user requested older abandoned projects that still define the company’s risk history.
DELIVERY DELAY 17 September 2016 report
Union Properties’ Vertx project in Motor City was reported as delayed: it had originally been announced for a 2015 start and February 2018 completion, had not begun by September 2016, and the company could give no definite delivery date while targeting a restart in mid-2017; later current completion was not established by the retrieved evidence.
PROJECT CANCELLED Source published 2016-12-21; cancellation/abandonment announced in 2013; status evidence is historical rather than a current 2026 confirmation.
Union Properties abandoned the Dubailand Formula One theme park and cancelled its agreement with Formula One Administration; the project had been suspended during the financial crisis and was never launched, with a reported $10 million signing fee forfeited (historical unresolved failure; event reported as 2013).
DELIVERY DELAY Source published 2016-09-17; original proposed completion February 2018; intended restart mid-2017; no current-status confirmation in the retrieved evidence.
Union Properties’ five-tower Vertx scheme in Motor City was documented as delayed: it had been announced with a proposed February 2018 completion, had not started by September 2016, and management could give no definite delivery date beyond an intention to restart in mid-2017; no later completion evidence was located in the retrieved sources, so current status remains uncertain.
DELIVERY DELAY Source published 2016-12-21; status reported then as stalled; current status as of 2026 is uncertain.
Union Properties’ Link Motor City hotel-and-retail development was reported by The National as stalled in December 2016, with the company still considering financing and a feasibility study; the retrieved evidence does not establish whether it was subsequently completed, cancelled or restarted.

Record status

active
Coverageactive
Tracked sinceOctober 6, 2026
Last checkedOctober 8, 2026 this month
Profile last researchedOctober 8, 2026
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For informational purposes only. This information is not investment, financial or credit advice and should not be relied on for investment, lending or credit decisions. Records may be incomplete or outdated. Verify information independently and seek qualified advice before making a decision.