Dubai Will Pick Up in 2016: Bin Kalban
Union Properties reported disappointing numbers for the first two quarters of 2015. However, investors can cheer up. Khalid bin Kalban, chairman of the company, has predicted a net profit in the range of Dh400 million to Dh450 million for the whole year.
“For the third quarter, we project a rough net profit of Dh100 million-plus. For the first nine months of the year, it will be in the range of Dh155 million. These figures will be subject to audits and confirmation from the board,” said bin Kalban. Details