Union Properties gains a profit of AED50 million in Q3 2012
21/11/2012
Most of the property developers in Dubai are now benefiting from increasing developments, sales transactions, and rental prices. One of them is the Union Properties, a Property Investment Development Company that has experienced growth in profit during the previous quarter of the year; for it has gained a total profit of AED50 million in that period.
Based on the report, such impressive growth of the company was just driven by its strategic initiative to rather focus on its existing developments than spending funds into new ones. It was due to the fact that there has been already an increasing interest in the Emirate’s property market after all. In other words, as this year 2012 started, a number of locations in Dubai have become sought-after destinations for property investors, including the Downtown Dubai in which the tallest tower in the world is located; Dubai Marina; Jumeirah Lakes Towers; Palm Jumeirah; and some of the villa community developments such as Discovery Gardens, Arabian Ranches, etc.
According to Hamptons MENA, a Real Estate Services Company, it has recently unveiled that the total value of property transactions in Dubai has increased during the first three quarters of the year. It has reached around 27, 000 transactions in just nine months with an approximate value of AED83 billion. In addition, as one of the property experts in the MENA region, Asteco has also indicated that even the rental transactions in the Emirate have increased; while others have emphasized the increase in values of the property.
Now, due to such positive signs shown in the Emirate's property market, if compared to other cities in the world, the latter has rapidly recovered from the huge impacts of the so-called 'Global Economic Crisis'.. So, it means that Dubai will continue to be an Economic Hub in the region as well as one of the most sought-after destinations for investors in the world.
Based on the report, such impressive growth of the company was just driven by its strategic initiative to rather focus on its existing developments than spending funds into new ones. It was due to the fact that there has been already an increasing interest in the Emirate’s property market after all. In other words, as this year 2012 started, a number of locations in Dubai have become sought-after destinations for property investors, including the Downtown Dubai in which the tallest tower in the world is located; Dubai Marina; Jumeirah Lakes Towers; Palm Jumeirah; and some of the villa community developments such as Discovery Gardens, Arabian Ranches, etc.
According to Hamptons MENA, a Real Estate Services Company, it has recently unveiled that the total value of property transactions in Dubai has increased during the first three quarters of the year. It has reached around 27, 000 transactions in just nine months with an approximate value of AED83 billion. In addition, as one of the property experts in the MENA region, Asteco has also indicated that even the rental transactions in the Emirate have increased; while others have emphasized the increase in values of the property.
Now, due to such positive signs shown in the Emirate's property market, if compared to other cities in the world, the latter has rapidly recovered from the huge impacts of the so-called 'Global Economic Crisis'.. So, it means that Dubai will continue to be an Economic Hub in the region as well as one of the most sought-after destinations for investors in the world.
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