Latest news with #UnionProperties'
Gulf News
17-04-2025
- Business
- Gulf News
Union Properties' share surges to be UAE's best forming - as markets stay flat
Dubai: Union Properties' stock has shot up an eye-catching 40% since the start of the year to date, easily making it the best-performing share on the DFM but the wider UAE capital markets. In fact, in recent days, the Dubai developer's share gained 20% plus before trimming some of the increase. In comparison, the wider DFM is down 0.4% year-to-date, while the ADX general index is flat. Which makes Union Properties' surge all the more of an outlier. 'Emaar Developments is down for the year after an exceptionally strong showing in 2024, while Aldar on ADX has gained 12% year-to-date,' said an analyst. 'It's pure sentiments that seems to be driving UP's share for now – but it's making for an unprecedented run.' Especially when stock market sentiments have been largely muted in the UAE and GCC as investors weigh in what the Trump tariffs on nations and economic blocs would actually mean. The US stock markets have given their response, heading down into correction territory and investors getting spooked. UP's stock is at Dh0.57 against the Dh0.59, which is the 52-week high. The developer is yet to issue any statement on DFM to give its views on why the stock has shot up. Union Properties has in the recent past launched its first project in some time, at Motor City, and also got a firmer grip on its debt exposures. On the 2024 financials, the company inched its way to some health after 3-4 years of underperforming and leading to sizable losses. On the operating profit side for 2024, UP reported Dh161.8 million – and that came about from an impressive 59% gain. Capital reduction At the time, the company said it will proceed with the necessary approval to cut its accumulated losses in full through a capital reduction. 'This step will further conclude the recovery phase of the company, ensuring a robust and clean capital structure that will enable distribution of dividends in the future,' said a statement by UP. According to analysts, UP's management seem to be winning over investors through its recent actions in tackling - and overcoming - its losses over the years. "The best part is that the company is back to launching projects, that too in the mid-income focused residential space," said an analyst. "UP has done a good job in developing Motor City as a destination and the new launch fits right into that narrative." Will UAE stock markets see a bounce? A lot rests on when UAE's flagship airline Etihad decides to go ahead with the planned IPO. The Abu Dhabi company has not made any formal announcement on a likely timeline, but the markets have been abuzz about the possibility for weeks now. "That would be a blockbuster as and when Etihad decides to catch the flight to ADX," said an analyst. "For now, there is still much to cheer about the other IPO that came out this year - Alpha Data on ADX. The stock had a decent first day bounce and is still in positive territory. "It shows fairly priced IPOs will perform well on the subscription side and sustain the momentum on listing."
Yahoo
19-02-2025
- Business
- Yahoo
3 Promising Penny Stocks With Market Caps Over US$50M
Global markets have been experiencing a notable upswing, with U.S. stock indexes nearing record highs and growth stocks outpacing their value counterparts. In this context, penny stocks—though often seen as a niche investment—can still offer intriguing opportunities for those interested in smaller or newer companies. By focusing on penny stocks with solid financial health, investors might find potential for growth and stability in an ever-evolving market landscape. Name Share Price Market Cap Financial Health Rating DXN Holdings Bhd (KLSE:DXN) MYR0.515 MYR2.64B ★★★★★★ Polar Capital Holdings (AIM:POLR) £4.98 £480.06M ★★★★★★ Warpaint London (AIM:W7L) £4.10 £331.23M ★★★★★★ Bosideng International Holdings (SEHK:3998) HK$3.94 HK$44.43B ★★★★★★ Datasonic Group Berhad (KLSE:DSONIC) MYR0.33 MYR932.02M ★★★★★★ Hil Industries Berhad (KLSE:HIL) MYR0.855 MYR278.83M ★★★★★★ Begbies Traynor Group (AIM:BEG) £0.938 £149.49M ★★★★★★ Seng Fong Holdings Berhad (KLSE:SENFONG) MYR0.88 MYR685.57M ★★★★★☆ Embark Early Education (ASX:EVO) A$0.80 A$144.95M ★★★★☆☆ Next 15 Group (AIM:NFG) £3.15 £313.29M ★★★★☆☆ Click here to see the full list of 5,686 stocks from our Penny Stocks screener. Let's take a closer look at a couple of our picks from the screened companies. Simply Wall St Financial Health Rating: ★★★★☆☆ Overview: Union Properties (ticker: DFM:UPP) is a company that invests in and develops properties, with a market capitalization of AED1.75 billion. Operations: The company's revenue is derived from three main segments: Contracting (AED25.61 million), Real Estate (AED47.31 million), and Goods and Services (AED455.83 million). Market Cap: AED1.75B Union Properties recently reported a decline in net income to AED 275.64 million for 2024, down from AED 837.62 million the previous year, despite an increase in sales to AED 528.75 million. The company's earnings per share also decreased significantly, reflecting challenges in profitability and efficiency. However, Union Properties has demonstrated financial stability with a satisfactory net debt to equity ratio of 13.1% and short-term assets exceeding liabilities by a healthy margin. While revenue is expected to grow at over 61% annually, the company faces hurdles with its operating cash flow not adequately covering its debt obligations. Get an in-depth perspective on Union Properties' performance by reading our balance sheet health report here. Examine Union Properties' earnings growth report to understand how analysts expect it to perform. Simply Wall St Financial Health Rating: ★★★★☆☆ Overview: Kintor Pharmaceutical Limited is a clinical-stage biotechnology company focused on researching, developing, and commercializing therapeutic drugs for dermatology and tumor indications in China, with a market cap of HK$441.62 million. Operations: Kintor Pharmaceutical Limited has not reported any revenue segments. Market Cap: HK$441.62M Kintor Pharmaceutical, a clinical-stage biotech firm, remains pre-revenue with less than US$1 million in revenue. The company recently completed the first subject enrollment for its Phase III trial of KX-826 tincture for treating male androgenetic alopecia in China. Despite not having meaningful revenue, Kintor has more cash than debt and covers both short-term and long-term liabilities with its assets. However, it faces challenges with a limited cash runway and increasing losses over five years at 22.2% annually. The board's experience is notable, but management tenure data is insufficient to assess expertise fully. Click here and access our complete financial health analysis report to understand the dynamics of Kintor Pharmaceutical. Review our historical performance report to gain insights into Kintor Pharmaceutical's track record. Simply Wall St Financial Health Rating: ★★★★★☆ Overview: Zhejiang Reclaim Construction Group Co., Ltd. operates in the construction industry and has a market cap of approximately CN¥2.39 billion. Operations: The company generates revenue of CN¥2.23 billion from its operations in China. Market Cap: CN¥2.39B Zhejiang Reclaim Construction Group, with a market cap of CN¥2.39 billion, operates in the construction sector and generates revenue of CN¥2.23 billion. The company is unprofitable but has reduced its losses by 38.1% annually over the past five years and maintains a sufficient cash runway for over a year based on current free cash flow. Its short-term assets match its short-term liabilities at CN¥3.9 billion each, while long-term liabilities are well-covered by assets. Although it has more cash than debt and reduced its debt-to-equity ratio to 32.8%, return on equity remains negative at -4.86%. Dive into the specifics of Zhejiang Reclaim Construction Group here with our thorough balance sheet health report. Explore historical data to track Zhejiang Reclaim Construction Group's performance over time in our past results report. Unlock more gems! Our Penny Stocks screener has unearthed 5,683 more companies for you to here to unveil our expertly curated list of 5,686 Penny Stocks. Are any of these part of your asset mix? Tap into the analytical power of Simply Wall St's portfolio to get a 360-degree view on how they're shaping up. Streamline your investment strategy with Simply Wall St's app for free and benefit from extensive research on stocks across all corners of the world. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Jump on the AI train with fast growing tech companies forging a new era of innovation. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include DFM:UPP SEHK:9939 and SZSE:002586. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
Mid East Info
14-02-2025
- Business
- Mid East Info
Union Properties achieves exceptional financial results in fiscal year 2024, achieved Comprehensive income of AED 395 million
The company recorded 59% per cent growth in operating profits. The success reflects the robust performance of its subsidiaries, effective debt restructuring, and increased demand on its real estate projects. Union Properties PJSC ('Union Properties' or 'the Company') (DFM symbol: UPP), released its outstanding audited financial results for the fiscal year 2024, recording an operating profit of AED 161.8 million, with an annual growth rate of 59% percent, and a total comprehensive income of AED 395 million. Additionally, revenue generated from customer contracts increased to AED 528.7 million, up from AED 508 million in 2023, underscoring the robust operational performance and strategic growth of the Company and its subsidiaries. The results further highlight Union Properties' remarkable achievements in debt restructuring, with total repayments amounting to AED 723 million completed in 2024, and reduction in finance cost to AED 31.7 million in 2024 from AED 114 million in 2023 further improving its financial standing. The Company's subsidiaries have also demonstrated outstanding performance in 2024, significantly bolstering overall revenue growth and operational efficiency. Furthermore, the Company announced it will proceed with the necessary approval for extinguishing its accumulated losses through Capital reduction. This step will further conclude the recovery phase of the Company, ensuring a robust and clean capital structure that will enable distribution of dividends in the future. The Company achieved AED 1.3 billion in land sales, enabling it to achieve significant deleverage. Its current assets now exceed its current liabilities by AED 566 million for the first time in many years, enhancing its liquidity and ability to expand the new projects in the pipeline, paving the way for substantial solid investment returns. In 2025, the Company will sustain its commitment to growth and innovation, guided by its exemplary strategic vision. As part of its AED 6 billion development strategy, Union Properties plans to launch two new projects soon. The developments will prioritise sustainable design and innovative solutions, catering to the rising demand for premium residential, commercial and mixed-use spaces. It will further contribute to the UAE Real Estate market's increasing value, which is poised to expand at an annual growth rate of 2.25 per cent between 2024 and 2029, achieving a valuation of USD 759 billion by the end of the forecast period. Eng. Amer Khansaheb, Chief Executive Officer and Board Member at Union Properties PJSC, said: 'Our strong financial performance in 2024 reflects the resilience of the Dubai Real Estate market and our ongoing operational improvements. Key achievements such as significant improvement in liquidity, growth in operating profit, the success of our subsidiaries, and the launch of exciting new projects demonstrate our commitment to delivering value to stakeholders. Looking ahead to 2025, we will focus on community growth and the sustainable development of Dubai's Real Estate sector. Additionally, we are set to launch two new projects soon, worth AED 4 billion, supporting our expansion goals.' He added, 'At Union Properties, we align with the 'Dubai Real Estate Sector Strategy 2033' to boost the sector's economic impact and reinforce Dubai's position as a global investment hub. As leaders in the Real Estate sector, we remain dedicated to meeting the evolving needs of UAE investors, residents, and the global market.' Union Properties utilises the latest technological innovations to deliver high-quality products and services catering to the diverse needs of its partners and clients. Moreover, leveraging Dubai's advanced infrastructure, favourable investor policies, and a dedicated team, the Company seamlessly navigates market dynamics, while diversifying its portfolio.
Zawya
13-02-2025
- Business
- Zawya
Union Properties reduces legacy debt, targets another $40.8mln cut by Q1-25
Dubai: Union Properties has achieved a significant milestone in its recovery plan by reducing its legacy debt of AED 1.47 billion as of 2022 to AED 575 million as of the end of December 2024. The company also plans for an additional reduction of AED 150 million by the end of the first quarter (Q1) of 2025, according to a press release. Union Properties was able to reduce the margin on the 3M EIBOR from 3.25% to 2.75% in light of growing trust among banks. The company was also able to secure additional bank loans of AED 150 million to fund new investments it intends to make in the coming 18 months. These investments are expected to generate an annual recurring income of approximately AED 40 million. Furthermore, Union Properties has lowered its financing costs by AED 82 million throughout 2024 to hit AED 32 million at the end of the year from AED 114 million in 2023 by implementing its debt restructuring strategy, improving profitability and liquidity. In addition, as a part of its asset divestment strategy, the company has sold plots, generating AED 1.30 billion in funds for debt settlement agreements and fulfilling preliminary costs for new real estate projects. Union Properties plans to launch two new projects soon, further reinforcing its leading position in Dubai's urban development landscape. The projects will include mixed-use, residential, commercial developments that will meet the highest benchmarks of sustainability, innovation and functionality. CEO and Board Member of Union Properties, Amer Khansaheb, said: 'With the successful reduction of our legacy debt and acquisition of new funding to advance our strategic expansion, we at Union Properties pave the way in a new era of growth and possibilities.' Khansaheb added: 'Our growing trust among financial institutions and unwavering commitment to excellence will certainly lay the groundwork for continued success, while also allowing us to address the evolving needs of urban populations.' He concluded: 'The strength and potential of the Company's portfolio are also demonstrated in different format by the availability of 10 million square feet of GFA." Meanwhile, the two new projects are set to be launched soon and will be strategically located and built to the highest sustainability and quality standards. These projects demonstrate Union Properties' commitment to promoting sustainable growth and improving Dubai's Real Estate market by attempting to meet the changing needs. It is worth mentioning that the real estate firm sold above AED 1.30 billion worth of plots since the announcement of its five-year turnaround strategy in April 2023.
Mid East Info
07-02-2025
- Business
- Mid East Info
Union Properties reduces legacy debt and signs new funding agreement with a local bank to drive strategic growth
The Company announced retaining 10 Million sq. ft. of available GFA, unveiling plans to launch two new projects soon. February , 2025: Union Properties PJSC ('Union Properties' or the 'Company') (DFM symbol: UPP) achieves a significant milestone in its recovery plan as it reduced its legacy debt of AED 1.47 billion (FY2022) to AED 575 million as of end of December 2024, and further targets reducing it by end of Q1 2025 by another AED 150 million. On the back of this exceptional performance, Union Properties was able to reduce the margin on the 3M EIBOR from 3.25 per cent to 2.75 per cent, in light of growing trust among banks. Union Properties was also able to secure additional bank loans of AED 150 million to fund new investments it intends to make in the coming 18 months. These investments are expected to generate an annual recurring income of approximately AED 40 million. By successfully implementing its debt restructuring strategy, Union Properties has lowered its financing costs by AED 82 million during FY 2024 – from AED 114 million in FY 2023 to AED 32 million in FY 2024, improving profitability, and liquidity. In addition, as a part of its asset divestment strategy, the company has sold plots, generating AED 1.3 billion in funds for debt settlement agreements and fulfilling preliminary costs for new real estate projects. The Company has also announced earlier, that as part of its 5 years strategy, it will be retaining land of approximately 10 million sq. ft. of Gross Floor Area (GFA) from its current portfolio for development. This exceptional milestone is a testament to the Company's strong asset base and strategic commitment towards driving sustainable growth in the UAE's Real Estate sector. As part of its ambitious growth strategy, the Company also revealed plans to launch two new projects soon, further reinforcing its leading position in Dubai's urban development landscape. These projects will include mixed-use, residential, commercial developments that will meet the highest benchmarks of sustainability, innovation and functionality. Eng. Amer Khansaheb, Chief Executive Officer and Board Member, Union Properties, stated, 'With the successful reduction of our legacy debt and acquisition of new funding to advance our strategic expansion, we at Union Properties pave the way in a new era of growth and possibilities. Our growing trust among financial institutions and unwavering commitment to excellence will certainly lay the groundwork for continued success, while also allowing us to address the evolving needs of urban populations. The strength and potential of the Company's portfolio are also demonstrated in different format by the availability of 10 million sq. ft. of GFA.' Set to be launched soon, the two new projects will be strategically located and built to the highest sustainability and quality standards. These projects demonstrate Union Properties' commitment to promoting sustainable growth and improving Dubai's Real Estate market by attempting to meet the changing needs.
