Union Properties: Difference between revisions

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| key_people = Khalifa Al Hammadi - CEO & Chairman of the board<ref>[https://www.dfm.ae/home/issuers/listed-securities/securities/disclosure-details?id=012cafb4-afd8-43bc-bae0-78ba52118f03 Union Properties Board of Directors Meeting Results]</ref>

| website = {{url|www.up.ae}}

'''Union Properties''' is a real estate development company based in Dubai, United Arab Emirates. The company was formed in 1987 as Union Property Private Limited<ref>{{Cite journal|title=Union Properties|url=https://www.arabianbusiness.com/companies/union-properties-66442.html|journal=Arabian Business}}</ref> and was listed on the [[Dubai Financial Market]] in 1993. Previous projects include [[The Index (Dubai)|The Index]] apartment/office building in Dubai and [[Dubai Motor City]].

== Previous developments ==

[[Image:Dubai_Motor_City_neighborhood.jpg|thumb|200px|right|Dubai Motor City]]

* [[Dubai Motor City]] neighborhood located in Dubai (city). Union Properties has participated in developing its related subprojects including, mosques, Uptown-MotorCity, MotorCity-Green Community, The Ribbon and OIA Residence, Dubai Autodrome, the Grandstand Retail Plaza, the Motorsport Business Park, a VIP Paddock Hospitality area and entertainment facilities for events and corporate entertainment.

* Dubai Green Community, DIP has been developed by a joint venture created between Union Properties and Dubai Investments PJSC called Properties Investment LLC. This project includes the development of Courtyard by Marriott Green Community, Green Community Phase I, Green Community West, Phase II, The Market and Green Community West, Phase III (completed in July 2018).

* Union Tower, 1996, in Dubai

* 'Al Mussalla Towers, 1998, in Dubai

* Union Properties Tower, 2002, in Dubai

* [[The Index (Dubai)]] tower, 2005, in Dubai

* Control Tower, 2008, in Dubai

* Limestone House, Dubai International Financial Centre

[[Image:The_Ritz_Carlton,_Dubai_-_DIFC.jpg|thumb|200px|right|The Ritz Carlton - DIFC]]

* The Ritz-Carlton, Dubai International Financial Centre

* UPTOWN Mirdiff, Dubai

* Union House, Dubai

*OIA Residence, Dubai Motor City

* Marriott Executive Apartments, Dubai

* Creekside Residence, Dubai

* Opal Building, Dubai

* Al Satwa Villas, Dubai

* Al Wasl Villas, Dubai

* Jumeirah Park Villas, Dubai

* Radio Tower Villas, Dubai

* Al Loze Villas, Dubai

* Nadd Rashid Villas, Dubai

* Union House, Dubai

* Net.Com, Dubai

* Al Rolla Building, Dubai

* Al Etihad Cold Storage, Dubai

==Board of directors==

The Chairman is Mr. Khalifa Hasan Ali Saleh Al Hammadi, & Vice Chairman is Mr. Fathi Ben Abdul Sattar Ben Grira.<ref>[https://www.dfm.ae/home/issuers/listed-securities/securities/disclosure-details?id=012cafb4-afd8-43bc-bae0-78ba52118f03 Union Properties Board of Directors Meeting Results]</ref>

Board Members are:

* Mohamed Fardan Ali Al Fardan

* Darwish Abdulla Ahmed Al Ketbi

* Dahi Yousef Ahmed Abdulla Al Mansoori

* Abdul Wahab Al Halabi

* Jorg Klar

== Prizes and awards ==

* Arabian Business Award 2005, as Property Company of the Year, organised by the Arabia Business Magazine (ITP).<ref>{{Cite news|url=https://www.albawaba.com/business/union-properties-pjsc-captures-honours-recent-arabian-business-awards-2005|title=Union Properties PJSC captures honours in recent Arabian Business Awards 2005|date=2005-11-10|work=Al Bawaba|access-date=2018-10-20|language=en}}</ref>

* 2005–2007 The Middle East Autocar Awards 2005.

* Emirates Superbrand Award 2009<ref>[https://www.zawya.com/mena/en/press-releases/story/48_brands_receive_Superbrands_recognition_at_Gala_Event-ZAWYA20190619063851/ 48 brands receive Superbrands recognition at Gala Event]</ref><ref>{{Cite web|url=http://www.hotelnewsnow.com/Articles/8300/Dubai-Ritz-Carlton-sold-for-AED11b|title=HNN - Dubai Ritz-Carlton sold for AED1.1b|website=www.hotelnewsnow.com|date=8 November 2010|language=en-US|access-date=2018-10-20}}</ref>

* Best Tall Building Middle East & Africa in 2011 for Index Tower, a project of UP, organized by The Council on Tall Buildings and Urban Habitat.<ref>{{Cite web|url=https://www.fosterandpartners.com/news/archive/2011/06/the-index-is-judged-best-tall-building-in-the-middle-east-and-africa-by-ctbuh/|title=The Index is judged best tall building in the Middle East and Africa by CTBUH {{!}} Foster + Partners|last=www.fosterandpartners.com|first=Foster + Partners /|website=www.fosterandpartners.com|language=en|access-date=2018-10-20}}</ref>

* Top Real Estate Companies 2016 in 13th grade, organised by [[Forbes]] Middle East.<ref>{{Cite journal|date=2016|title=TOP 50 LISTED REAL ESTATE COMPANIES|url=https://www.forbesmiddleeast.com/en/wp-content/uploads/sites/3/2017/01/ForbesMERealEstateGuide2016.pdf|journal=Forbes Middleeast|volume=GUIDE 2016 / REAL ESTATE|pages=56}}</ref>

* 2018, Nasser bin Butti Omair bin Yousef, chairman of Union Properties, was recognized in 8th place on the Power 60 list by Construction Business News.<ref>{{Cite news|url=http://www.cbnme.com/power-60/8-nasser-bin-butti-omair-bin-yousef-union-properties/|title=#8: Nasser bin Butti Omair bin Yousef, Union Properties - Construction Business News Middle East|date=2018-07-04|work=Construction Business News Middle East|access-date=2018-10-20|language=en-US}}</ref>

* 2018, “Chairman of the year” award to Nasser Butti Omair Bin Yousef, chairman of Union Properties, by CEO middle east publication.

* Top 100 Companies in the Middle East 2018 in 47th grade organized by [[Forbes]] Middle East.

* Gary Reader, ServeU General Manager won FM Executive of the Year 2020 award from FM Middle East Awards.

* ServeU won Unsung Hero of the Year 2020 award from FM Middle East Awards.<ref>[https://www.fm-middleeast.com/events/fm-awards/76701-fmme-awards-2020-winners-revealed FMME Awards 2020: Winners revealed]</ref>

* Best Real Estate Company 2016 in thirteenth grade, organized by Forbes Middle East.<ref>[https://www.kachaf.com/wiki.php?n=5ed53f16b4d0a03c2a77da62 Aletehad al-aqarya, kachaf .]</ref>

* Awarded as “Best Tall Building Middle East & Africa” from the Council on Tall Buildings and Urban Habitat in 2011.<ref>[http://www.skyscrapercenter.com/building/the-index/387 CTBUH Awards,skyscraper center ]</ref>

== Selling Emicool Assets ==

On January 21, 2018, Union Properties announced that it had sold to Dubai Investment, the multi-investment company, listed on the Dubai Financial Market, its stake of 50% in «Emirates District Cooling LLC» “EMICOOL” for 500 million Dirhams.<ref>{{Cite web|title=Dubai Investments buys 50% stake in Emicool for Dh500m|url=https://www.thenational.ae/business/dubai-investments-buys-50-stake-in-emicool-for-dh500m-1.697207|website=The National|date=21 January 2018|language=en|access-date=2020-05-10}}</ref><ref>{{Cite web|title=Dubai Investments buys 50% stake in Emicool|url=https://emirates-business.ae/dubai-investments-buys-50-stake-in-emicool/|website=Emirates Business|language=en-US|access-date=2020-05-10}}</ref> After this acquisition, Dubai Investments will acquire all shares of EMICOOL 100%. The proceeds of the sale contributed to the enhancement of the activities of the Union Properties and the restructuring of some debts arising from the company. <ref>{{Cite web|title=Dubai Investments buys Union Properties' Emicool stake for $136m|url=https://www.constructionweekonline.com/article-47866-dubai-investments-buys-union-properties-emicool-stake-for-136m|website=Construction Week Online Middle East|language=en|access-date=2020-05-10}}</ref><ref>{{Cite web|title=Union Properties sells Emicool stake for Dh500m|url=https://gulfnews.com/business/property/union-properties-sells-emicool-stake-for-dh500m-1.2160649|website=gulfnews.com|language=en|access-date=2020-05-10}}</ref><ref>{{Cite web|title=Dubai Investments Buys Union Properties' Stake in Emicool|url=https://www.districtenergy.org/blogs/district-energy/2018/01/21/dubai-investments-buys-union-properties-stake-in-e,%20https://www.districtenergy.org/blogs/district-energy/2018/01/21/dubai-investments-buys-union-properties-stake-in-e|website=www.districtenergy.org|language=en|access-date=2020-05-10}}</ref>

Union Properties also invested another part in purchasing a strategic stake in Palm Hills Company in Egypt according to the company's financial data for the year 2019 and these returns contributed to the restoration of Stability of the company's cash flow and contribute to revitalizing and focusing on the company's other business, in addition to enhancing the company's financial position and allowing it to complete its other major business. <ref>{{Cite web|title=UAE's Union Properties buys 5.68% stake in Egypt's Palm Hills|url=https://www.zawya.com/mena/en/business/story/UAEs_Union_Properties_buys_568_stake_in_Egypts_Palm_Hills-ZAWYA20180110101532|website=www.zawya.com|language=en|access-date=2020-05-10}}</ref><ref>{{Cite web|title=Emirati company acquires 5.7% stake in Palm Hills|url=http://www.egypttoday.com/Article/3/39750/Emirati-company-acquires-5-7-stake-in-Palm-Hills|website=EgyptToday|date=10 January 2018|access-date=2020-05-10}}</ref><ref>{{Cite web|title=Follow The Leader: Ahmed Khouri, Managing Director, Union Properties|url=https://www.entrepreneur.com/article/318480|last=Thomas|first=Aby Sam|date=2018-08-16|website=Entrepreneur|language=en|access-date=2020-05-10}}</ref><ref>{{Cite web|title=Dubai's Union Properties buys stake in Egyptian developer|url=https://www.arabianbusiness.com/news/387321-dubais-union-properties-buys-stake-in-egyptian-developer|website=ArabianBusiness.com|language=en|access-date=2020-05-10}}</ref><ref>{{Cite web|title=UPRO.DU - Union Properties PJSC Profile {{!}} Reuters|url=https://www.reuters.comundefined/|last=Editorial|first=Reuters|website=www.reuters.comundefined|language=en|access-date=2020-05-10}}</ref><ref>{{Cite web|title=UAE's small property stocks see 'exceptional' buying|url=https://gulfnews.com/business/property/uaes-small-property-stocks-see-exceptional-buying-1.63388494|website=gulfnews.com|language=en|access-date=2020-05-10}}</ref>

== Sponsoring ==

* Dubai Motor City Sponsored the AUTOCAR Middle East Awards 2007، Honoring the industry professionals, for 3 years.<ref name=":2">{{Cite web|url=https://www.dfm.ae/docs/default-source/default-document-library/upp_cgr_e_20179e82e6f7f6026339b0d9ff00009be840.pdf?sfvrsn=0|title=Union Properties PJSC Corporate Governance Report|website=Dubai Financial Market PJSC}}</ref>

* Uptown Mirdiff Chess and Bridge Championship 2017.<ref>{{Cite news|url=https://www.albayan.ae/sports/emirates/2017-06-16-1.2979111|title=118 لاعباً في بطولة "أب تاون الشطرنجية"|last=الغربي|first=■دبي - عدنان|date=2017-06-16|work=البيان|access-date=2018-10-20|language=ar-AR}}</ref>

* Open a race track in Dubai Autodrome for people to practice driving fast in a safe area for free once weekly.<ref name=":2" />

[[Category:Property companies of the United Arab Emirates]]