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11/01/2018 08:24 AST
Dubai-based real estate developer Union Properties is in the final stage of selling its stake in regional district cooling company Emicool, it said on Wednesday.
Emicool, a joint venture between Union and Dubai Investments, provides chilled water for air conditioning systems in commercial, industrial and residential buildings.
In a statement, Union said it had received several offers from various UAE-based companies, and will be announcing the buyer in the coming days.
Ahmed Yousef Khouri, Union's CEO, said: "The move further strengthens our focus on core operations, and tapping into new sectors."
Union is primarily a regional property developer whose landmark projects span MotorCity, Dubai Autodrome, Green Community and Uptown MotorCity as well as Limestone House and Index Tower in the DIFC area. Union also provides project and facilities management services.
Emicool said it boosted productivity 13 percent in 2016 and 18 percent in 2017, and is seeking to expand in Saudi Arabia and other countries in the region.
Arab News
09/05/2025
Union Properties is picking up the pace on its turnaround playbook-posting double-digit revenue growth, slashing legacy debt, and laying the groundwork for a more aggressive return to project launche
Gulfnews
04/04/2018
Union Properties has launched a new mixed-use cluster at its Motor City master-development.
The "Zawaya" represents the first phase of the developer's new master plan for Motor City, itself
Gulf News
15/03/2018
Al Ramz Capital has been re-appointed as a liquidity provider for Union Properties Shares after obtaining the necessary approvals from Dubai Financial Market and signing the agreement.
A L
Gulf News
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08/08/2025
Burjeel Holdings, a leading super-specialty healthcare services provider in MENA, has delivered a strong top-line growth of 18.7% to AED1,403 million ($381.98 million) in Q2 2025, driven by a 12.1% i
Trade Arabia
08/08/2025
Saudi Arabian Mining Company (Maaden) has reported a 73% jump in its net profit for the first half, which soared to SAR3.47billion ($924 million) from SAR2.01 billion ($535 million) last year, mainly
Trade Arabia
08/08/2025
Market heavyweight Industries Qatar (IQ) - the holding entity of Qatar Petrochemicals, Qatar Fertiliser and Qatar Steel - has reported net profit of QR2bn in the first half (H1) of 2025.
The
Gulf Times
08/08/2025
Aramex reported group revenues of Dh3.06 billion for the first half of 2025, marking a 1% year-on-year increase, as growth in domestic and regional logistics offset weakness in international express
Gulfnews
08/08/2025
Parkin Company PJSC, the city's largest paid public parking provider, reported a record 56% year-on-year rise in Q2 2025 revenue to Dh320 million, driven by higher public parking tariffs, strong enfo
Gulfnews
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