Union Properties' stock rises 40%, leads Dubai market

Union Properties' stock has surged 40% this year, making it the best performer on the Dubai Financial Market, while the overall market remains flat. The company's recent gains include a 20% increase before some trimming. In contrast, other major developers like Emaar are down for the year, while Aldar has gained 12%. Union Properties has recently launched a new project and improved its financial health after years of losses. The company plans to reduce its accumulated losses through a capital reduction, aiming for a stronger capital structure. Analysts note that Union Properties' management is gaining investor confidence with its recent actions and project launches.