Union Properties in the United Arab Emirates (UAE) posted a net profit increase of 21 percent for 2003, reporting a figure of 87.2 million Emirati dinars ($23 million).
Union Properties' core business is property investment development, which involves investing in and developing residential, commercial, industrial and retail property.
Last week, the company inaugurated the first phase of Dubai Autodrome & Business Park, a Dh 350 million motor sports facility, which alone, is the company's most ambitious project to date. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
