Dubai – Mubasher: Union Properties has denied the presence of any intention or study to transform the company into a private joint-stock company.
The developer commented on the news published in the media related to the statements by one of the company's employees on one of the news platforms on 17 May 2021, according to a bourse filing on Wednesday.
It is noteworthy to mention that in the first quarter (Q1) of 2021, the company achieved net profits of AED 5.553 million, against net losses of AED 121.868 million in Q1-20.
