2.3 billion dirhams Union Real Estate losses in the first half

The accumulated losses of Union Properties amounted to about 2.3 billion dirhams at the end of the first half of this year, equivalent to about 54% of its capital.

According to CNBC Arabia, the company clarified that these losses are dealt with through several methods such as restructuring its debts and reducing its operating expenses in addition to the possible listing of its subsidiaries.

In terms of quarterly results, the net losses of the company decreased by 54% on an annual basis to reach about 39 million dirhams in the second quarter of this year.

The reduction of losses is attributed to a decrease in direct costs by 17% to 68 million dirhams, in addition to a decrease in the loss of financial instruments by 66% to 10 million dirhams in the same period. / p>

(Amazon fun knowledge)