Emirates Post issues stamps on 20th anniversary of Union Properties PJSC

The stamps pay tribute to UP's corporate brand and three product brands unique within the property sector that the company has successfully developed into iconic landmarks.

"These stamps celebrate UP's tremendous growth and development over the past 20 years," said Simon E. Azzam, CEO, UP. "This success and development is due partly to the Government of Dubai's infinite support for the private sector that has largely contributed to the economic development and diversity of city's investment segments, making property development a key element of growth, beside trade and tourism."

"Union Properties has been one of the pillars in the field of property development in the UAE," said Mr. Abdulla Al Daboos, President of Emirates Post Group. "Its achievements over the past two decades can be seen across the country in the shape of landmark projects. Union Properties is certainly one of the pioneers in this field, and Emirates Post is delighted to honour it with these special stamps."

The commemorative stamps, issued in the denominations of Dhs1, Dhs1.50, Dhs2 and Dhs3, reflect UP's 20 years of property development apart from the corporate brand and the company's various brand developments that consist of the F1 Theme Park in Dubai, Green Community and UPTOWN. The stamps will be available at all post offices from December 27, 2007.

UP was launched as Union Property Private Limited in 1987 and floated as a public limited company in 1993. In 1987 the company's net assets were worth AED one million and in 2006 the company represented an annual turnover of more than Dhs2.5bn, with net assets of more than Dhs4.5bn, and still growing rapidly. With over 24 projects, and current projects worth Dhs13bn, the company has created a portfolio of iconic landmarks in commercial, residential and leisure developments, from high-rise towers to multi-use complexes, hotels and theme parks. Index, Limestone House, MotorCity, Green Community, UPTOWN Mirdiff, Net.community and The Tower are but some of the renowned UP developments.