Union Properties completes consolidation of key business units

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UAE - Union Properties, a leading Dubai property developer, has announced the completion of several operational improvements as part of its ongoing turnaround strategy to deliver maximum value for homeowners, residents and shareholders.

In bid to improve the overall efficiency and productivity of the business, Union Properties has merged three business units - Edacom Owners Association Management, Uptown Mirdif and Al Etihad Cold Storage - under Edacom for easy management of the assets.

According to Union Properties, the consolidation is designed to drive profitability for the business through better utilization of resources and assets as well as cost rationalization. Further cost savings will achieve a one-time cost saving of over AED7 million within the next 12 months.

Additionally, the Dubai developer has introduced a wide range of infrastructure initiatives across its communities, including the installation of solar panels, LED conversion plans, smart waste management, and major technological updates such as the deployment of computer-aided facility management (CAFM) systems for its B2B and B2C customer operations.

It has also achieved up to 30% savings at its flagship development, Motor City, through subsidiaries’ collaboration between the management of Edacom and ServeU.

The collaboration, which targets more than 60% cost savings by year-end involved Edacom and ServeU implementing various Green Energy Projects, it added.

Meanwhile, Union Properties said it has begun design and engineering work on major infrastructure upgrade projects within Motor City as it continues to focus on delivering an exceptional customer experience and creating greater value for homeowners and residents alike.

These enhancements include the upgrade of buildings management control systems, landscaping improvements, and lake redevelopment, with more to come, it added.

Amer Khansaheb, Board Member and Managing Director of Union Properties, said: "These achievements mark an important step in the ongoing delivery of our turnaround strategy that is focused on restructuring operations and generating greater value for our homeowners, residents and shareholders."

"We continue to implement a business transformation culture aimed at improving the overall efficiency and productivity of the business through better utilization of resources and deployment of advanced technology," he added.