Union Properties, a Dubai developer, said losses widened in the first half of the year to Dh439 million from Dh299m in the same period last year as it took provisions against valuation of properties.
Revenues increased to Dh2.25 billion in the first half of the year, up from Dh1.56bn a year earlier, according to financial statements posted on the Dubai stock exchange yesterday.
The company took a fair value loss of Dh595.6m on valuation of investment properties.
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