Union Properties to sell its Emicole stake to Dubai Investments for half a billion dirhams

Media In – Dubai January 21, 2018 Agencies

Union Properties, one of the country’s leading real estate developers, has announced that it will sell its entire stake in Emirates District Holding (Emicol), a regional refrigeration services company, to Dubai Investment Company, which owns 50% of Emicol shares for half a billion AED – approx. 137 million US dollars.

Union Properties said it would invest the proceeds from the deal in strengthening its investment portfolio, expanding its operations and development projects and supporting its expansion strategy.