A practical buyer’s guide to Union Properties, Motor City, Takaya, Mirdad and its 2026 outlook
Buying property from a developer is not only about choosing the right floor plan or payment plan.
The developer’s track record, financial position, completed communities, current construction pipeline and long term approach to property management can all influence a buyer’s decision.
That makes Union Properties PJSC particularly interesting.
Founded in 1987 and headquartered in Dubai, Union Properties has been involved in the emirate’s property market for more than three decades. Its portfolio includes master communities such as Dubai Motor City, Green Community and Uptown Mirdif.
The company is publicly traded on the Dubai Financial Market under the ticker UPP.
More recently, Union Properties has entered a new phase. After several years focused on debt reduction and restructuring, the company has returned to large scale residential development through projects including Takaya and Mirdad in Motor City.
For buyers considering Union Properties in 2026, the relevant question is therefore not simply whether the company has history.
It is how that history, its financial recovery and its current projects translate into a property decision today.
Union Properties at a Glance
| Detail | Information |
|---|---|
| Founded | 1987 |
| Headquarters | Dubai, UAE |
| DFM Ticker | UPP |
| Business | Real estate development, management and investment |
| Reported Delivered Portfolio | More than 10,000 residential, commercial and retail units |
| Major Developments | Motor City, Green Community, Uptown Mirdif |
| Key Group Companies | ServeU, EDACOM, The Fitout, Dubai Autodrome |
| Major Current Projects | Takaya and Mirdad |
| 2025 Revenue | AED 736.9 million |
| 2025 Operating Profit | AED 240.7 million |
| First Dividend in 11 Years | Approved in 2026 |
Union Properties’ current corporate and project material supports its 1987 foundation, major portfolio, subsidiaries and more than 10,000 delivered units.
Who Is Union Properties?
Union Properties is one of Dubai’s long established publicly traded property companies.
Unlike developers built around one recent residential tower or launch cycle, Union Properties’ history stretches across different areas of Dubai and several types of real estate.
Its portfolio includes:
- Master planned residential communities
- Apartment developments
- Villas and townhouses
- Commercial property
- Retail
- Hospitality related assets
- Facilities and community management businesses
- Dubai Autodrome
That breadth is useful when assessing the developer because buyers can examine real communities that have been occupied for many years rather than relying exclusively on proposed developments.
At the same time, age alone should never be treated as proof that every project or property will perform equally well.
A buyer evaluating a Union Properties property in 2026 should still examine the specific building, project, purchase price, service charges, construction stage and contractual terms.
Major Union Properties Projects and Track Record
Uptown Mirdif
Another established development in Union Properties’ portfolio is Uptown Mirdif, a mixed-use community in Mirdif, Dubai.
Union Properties describes Uptown Mirdif as a heritage-inspired, walkable neighbourhood organised around a central Grand Piazza, combining residential properties with retail, schools, parks, fitness facilities and landscaped swimming pools.
The community is useful in a Union Properties developer profile because it demonstrates the company’s experience beyond high-rise buildings and large master developments. Uptown Mirdif shows a more neighbourhood-focused approach, where housing, everyday services and public spaces are integrated within the same community.
For buyers assessing Union Properties today, developments such as Uptown Mirdif provide an example of how the developer’s older mixed-use communities have evolved after completion.
Green Community
Union Properties also played an important role in the development of Green Community, including residential areas at Dubai Investments Park and Motor City.
The development is known for its low rise residential environment, villas, townhouses, bungalows and extensive landscaped surroundings.
Green Community represents a very different side of the developer’s portfolio from high rise projects such as Index Tower and demonstrates Union Properties’ experience with longer term suburban community development.
Dubai Motor City
Perhaps the development most closely associated with Union Properties today is Dubai Motor City.
Motor City combines residential neighbourhoods, retail, community facilities and the Dubai Autodrome, giving it a distinctive identity within Dubai’s suburban market.
The area includes established stock in places such as Uptown Motor City and Green Community, while the newer development cycle is introducing modern projects such as Takaya and Mirdad.
For buyers, that creates an important distinction:
Motor City now contains both mature resale property and new off plan inventory.
These should not be evaluated using exactly the same assumptions.
Union Properties’ In House Operating Ecosystem
Union Properties is more than a property development company.
The wider group includes several specialised operating businesses.
Its latest corporate reporting identifies key subsidiaries and group companies including:
- ServeU, which provides facilities management
- EDACOM, which provides community and owners association management
- The Fitout, which handles interior fit out and contracting
- Dubai Autodrome, which operates motorsport and entertainment activities
- Other group businesses serving related operational functions
For property buyers, this matters because Union Properties has internal capabilities across several stages of the property lifecycle.
However, buyers should not assume that the same management structure or company is responsible for every Union Properties building.
The actual facilities management arrangements, service charges and owners association structure should still be checked for the specific property being purchased.
Union Properties’ Financial Recovery: What Buyers Should Know
A developer’s balance sheet is not the only factor that determines whether a property is attractive, but financial health is relevant when the company is actively developing new projects.
Union Properties spent several years reducing legacy debt and restructuring its finances.
By mid 2025, the company had repaid approximately AED 1.47 billion in legacy bank debt, according to company disclosures and subsequent reporting on its turnaround.
The company’s audited 2025 results then showed substantial operating improvement.
| Financial Metric | 2025 |
|---|---|
| Revenue | AED 736.9 million |
| Revenue Growth | 39.4% |
| Operating Profit | AED 240.7 million |
| Cash Balance | AED 494.2 million |
Union Properties reported revenue rising from AED 528.7 million in 2024 to AED 736.9 million in 2025, while operating profit increased from AED 161.8 million to AED 240.7 million.
Another important milestone came in 2026.
Shareholders approved a cash dividend equivalent to 3 fils per share, representing the company’s first cash dividend in approximately 11 years.
Why Does This Matter to a Property Buyer?
The figures do not guarantee that an individual Union Properties project will outperform the market.
What they do show is that the company’s financial position has materially improved compared with the period in which legacy debt was a major constraint.
For buyers considering newer projects, this provides useful corporate context, but it should sit alongside project level due diligence rather than replace it.
Leadership Update in 2026
Union Properties also went through a leadership change in August 2026.
Amer Khansaheb, who had served as chief executive since 2021 and led much of the company’s restructuring period, resigned to focus on his own business activities and projects.
The board subsequently established a transitional management committee, chaired by board chairman Sheikh Nasser Almoalla, to manage the company while a successor is appointed.
For buyers, leadership transitions are worth monitoring but should not automatically be interpreted negatively.
What matters more is whether:
- Project construction continues according to plan
- Funding remains available
- Contractual obligations are met
- Communication around current projects remains consistent
Takaya at Motor City
Takaya is one of the clearest examples of Union Properties’ return to large scale residential development.
Located in Motor City, the project is currently described by Union Properties as an approximately AED 2 billion mixed use development.
The project comprises 788 homes in total:
- 744 apartments
- 39 townhouses
- 5 villas
It also includes retail and lifestyle components.
What Makes Takaya Different?
One of the development’s most recognisable design features is a 450 metre podium level sky garden, connecting different parts of the project and its recreational areas.
Earlier official project material also identifies approximately 55,000 sq ft of retail, together with EV charging infrastructure and other contemporary residential features.
Takaya offers a range of property types, including:
- Studios
- One bedroom apartments
- Two bedroom apartments
- Three bedroom apartments
- Penthouses
- Townhouses
- Villas
For buyers comparing Takaya with older Motor City apartments, the decision is not simply new versus old.
Older completed properties may offer an established building and immediate occupancy.
Takaya offers a newer design, modern amenities and an off plan purchasing structure.
The better option depends on the buyer’s timeline, budget and objectives.
Mirdad at Motor City
Union Properties’ next major Motor City development is Mirdad.
According to the developer’s official project information, Mirdad occupies a site of approximately 356,931 sq ft and consists of four residential towers containing 1,087 apartments.
Available property types are expected to include:
- Studios
- One bedroom apartments
- Two bedroom apartments
- Three bedroom apartments
- Selected loft and duplex configurations
The project’s amenity programme includes areas dedicated to fitness, wellness, families and social activity, while Union Properties currently targets Q4 2028 for completion.
Mirdad is particularly relevant because it shows that Motor City’s new development cycle is not dependent on only one project.
Takaya and Mirdad together point toward a broader renewal of Union Properties’ Motor City development pipeline.
What Does the New Pipeline Mean for Motor City Buyers?
This is where buyers should separate marketing from practical property analysis.
New projects can have positive effects on an established community.
They may introduce:
- Newer housing stock
- Updated retail
- Additional residents
- Upgraded amenities
- New landscaping
- Renewed investment into surrounding infrastructure
At the same time, new supply also means greater competition.
An investor considering an apartment in Motor City should ask:
Am I buying older ready stock at an attractive price, or am I paying a premium for a newly launched development?
Both strategies can work.
But they require different calculations.
Buying Ready vs Off Plan Union Properties Property
Ready Property
Established Union Properties communities offer the advantage of being inspectable before purchase.
A buyer can review:
- The exact unit
- Building condition
- Parking
- Landscaping
- Occupancy
- Historical service charges
- Rental evidence
- Previous transactions
Older homes may also provide larger or different layouts compared with some newer developments.
However, age means buyers should budget properly for potential refurbishment and maintenance.
Off Plan Property
Projects such as Takaya and Mirdad offer newer specifications and payment structures but introduce the normal considerations associated with off plan property.
Before purchasing, verify:
- Project registration
- Designated escrow details
- Latest construction status
- Full developer payment schedule
- Expected completion information
- SPA completion provisions
- Unit specifications
- All applicable purchase costs
Do not rely only on the marketing brochure.
The SPA and official developer documentation should define the actual purchase.
Is Union Properties a Good Developer?
There is no useful way to answer this question with a simple yes or no.
Union Properties has several advantages that a buyer can objectively recognise:
| Strength | Why It Matters |
|---|---|
| More than three decades in Dubai | Long local operating history |
| Large completed portfolio | Buyers can inspect mature communities |
| Recognised projects | Includes Motor City and Index Tower |
| Improved financial position | Legacy debt materially reduced or repaid |
| Active new pipeline | Takaya and Mirdad |
| Related operating companies | Facilities, community management and fit out capabilities |
There are also points buyers should continue monitoring:
| Consideration | Why It Matters |
|---|---|
| Leadership transition in 2026 | New permanent CEO yet to be appointed |
| New off plan delivery cycle | Takaya and Mirdad still need to complete |
| Older secondary stock | Condition varies property by property |
| New Motor City supply | May affect future competition |
| Building specific management | Service charges and facilities management should be checked individually |
This is a more useful way to evaluate the developer than labelling it simply “good” or “bad.”
Guardians Prime Perspective: How We Would Assess a Union Properties Purchase
For a buyer considering a Union Properties property, the developer name is only the first layer of analysis.
1. Check the Exact Project
A mature Uptown Motor City apartment should not be analysed using the same approach as an off plan Takaya unit.
2. Compare Actual Market Evidence
For resale property, look at relevant recent transactions in the same building or subcommunity, not just the seller’s asking price.
3. Check Ownership Costs
Service charges, cooling, maintenance and potential refurbishment can materially affect the true cost of ownership.
4. Review the Specific Unit
Orientation, floor, view, parking, layout and proximity to amenities can create substantial differences between otherwise similar homes.
5. For Off Plan Property, Review the Paperwork
Verify the project registration, available escrow information, payment schedule, latest progress and SPA terms before committing funds.
6. Think Beyond the Launch Price
A low price is not automatically good value, just as a premium price is not automatically poor value.
The relevant question is:
What property are you receiving relative to the alternatives available at the time of purchase?
Frequently Asked Questions
Who Is Union Properties?
Union Properties PJSC is a Dubai based real estate developer and investment company founded in 1987 and publicly traded on the Dubai Financial Market under the ticker UPP.
What Are Union Properties’ Best Known Projects?
Its portfolio includes Dubai Motor City, Green Community, Uptown Mirdif, Index Tower and Dubai Autodrome, among other developments and assets.
Has Union Properties’ Financial Position Improved?
Yes. The company has materially improved its financial position through legacy debt repayment and stronger operating performance.
It reported AED 736.9 million in 2025 revenue and AED 240.7 million in operating profit, while shareholders approved the first cash dividend in approximately 11 years during 2026.
This does not make every individual development risk free, so buyers should still assess projects separately.
What Is Takaya at Motor City?
Takaya is an approximately AED 2 billion Union Properties development in Motor City comprising 744 apartments, 39 townhouses and five villas, for a total of 788 homes.
What Is Mirdad?
Mirdad is a newer Union Properties project in Motor City featuring four towers and 1,087 apartments, with completion currently targeted for Q4 2028.
Can International Buyers Purchase Union Properties Properties?
Freehold property is available to eligible international buyers in designated developments such as Motor City.
Buyers should verify the ownership status and title conditions of the specific unit they intend to purchase.
Is Buying From Union Properties Safe?
No property purchase should be described as completely risk free.
Union Properties’ financial position has improved materially and it has a substantial completed Dubai portfolio.
Nevertheless, buyers purchasing off plan should still verify the specific project’s registration, escrow arrangements, construction progress, payment terms and contractual conditions.
Should You Buy a Union Properties Property?
Union Properties occupies an unusual position in Dubai’s market.
It combines the history of a long established developer with the characteristics of a company entering a renewed growth phase.
Buyers can examine decades old completed communities and internationally recognised projects such as Index Tower, while simultaneously considering newer developments such as Takaya and Mirdad.
The company’s financial recovery strengthens the corporate picture, but that should not be confused with a guarantee of investment performance.
The best purchasing decision still comes down to:
The individual project, the unit, the purchase price, ownership costs, contractual terms and the buyer’s own objectives.
If you are considering a ready or off plan property by Union Properties, Guardians Prime Real Estate can help you compare current opportunities, review relevant market evidence, examine ownership costs and verify key project information before you make a purchase decision.
