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- Saudi bank lending hits record $788bn as corporate loans surge
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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
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.
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Gulf News
16/02/2018
Union Properties, a leading real estate developer in the UAE, has reported a net loss of Dh2.3 billion ($626 million) for the 12 months ending December 31, 2017 (equivalent to Dh0.55 loss per share)
Trade Arabia
06/02/2025
Saudi utility giant ACWA Power has signed two agreements with Aramco to accelerate the deployment of renewable energy projects and evaluate the performance of vanadium flow batteries in the Kingdom's
Arab News
05/02/2025
Al Rajhi Bank, a pioneer in innovative banking solutions in Saudi Arabia, has announced a strategic partnership with RATL Technology, the owner of Muhide fintech platform, to digitally empower and fi
Saudi Gazette
14/09/2024
RIYADH: Saudi master developer Emaar The Economic City's SR8.7 billion ($2.32 billion) capital optimization plan is a "strategic response" to its current financial challenges, according to its CEO. <
Saudi Gazette
12/09/2024
Saudi wheat flour producer Arabian Mills for Food Products Co. has set its final initial public offering price at SR66 ($17.59) per share on the Tadawul main market. During the book-building proces
Arab News
04/05/2018
SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.
Saudi Gazette
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