Union Properties To List Subsidiary On DFM
Real estate developer, Union Properties has announced the decision to raise capital for its facilities management subsidiary, ServeU through an initial public offering (IPO) in the second half of January 2018. The group is said to list the shares on Dubai Financial Market (DFM) and will invest the proceeds from the IPO to enhance its operations and develop an investment portfolio. ServeU has multiple services like property maintenance, general maintenance, security, cleaning, waste transportation and landscaping. The company has aligned itself with Union Properties’ new strategies which focus on enhancing its investments, diversifying revenue sources and expanding into new markets.