(MENAFN) Dubai developer Union Properties posted USD48.95 million net profit in the first three months of 2014 compared to USD5.963 million in the same quarter 2013, according to Arabian Business.
The company�s profit resulted from gains from the sale of investment properties in the quarter and from liabilities settlement with contractors.
Companies across Dubai's property sector are booming again as the real estate market recovers from its 2008-2010 crash.
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