Business & Money | Wednesday 15 April, 2015 12:01 am |

• Company Registers Continuous Growth despite Fluctuating Market Conditions

Deyaar Development (Deyaar), a customer-focused, trusted and valued developer with in-depth market intelligence and property management expertise, today announced it has registered AED 55.2 million in net profits, compared to AED 52.1 million recorded during the same period in 2014.
Abdullah Al Hamli, Chairman, Deyaar, said: “The results that we have achieved validate Dubai’s strong economic performance. The diversification of the economy is clearly evident and can be credited as a key reason that allows us to continue earning profits. The company’s strong first quarter performance also affirms that our corporate strategy remains sound and strong placing high priority on stakeholders’ value.”

In 2014, Deyaar expanded its development portfolio beyond commercial and residential properties to include a portfolio of hospitality projects such as the Atria and Montrose. Currently, Deyaar is working towards acquiring the necessary approvals for the soon-to-be-launched AED 3.5 billion new upscale development ‘Midtown’.

In addition to delivering end-to-end property development and property management services and overseeing a wide range of property units across the UAE, Deyaar today also provides facility management services to commercial and residential units.

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Notes to Editor:

About Deyaar:

Deyaar Development PJSC is a leading real estate developer and real estate services company, headquartered in Dubai. Since its establishment in 2002, the company has registered exponential growth to become an industry leader in the region, with a share capital of AED5.78 billion.

Deyaar is well-positioned to play a pivotal role in the development of the region's property landscape. The company’s in-depth market intelligence, world-class services and unrivalled property management support for communities across diverse portfolios have firmly consolidated its pioneering status in the region’s real estate landscape.

Combining excellence with a vision to create natural living environments while placing customers at the core of its strategies, Deyaar additionally serves as a one-stop real estate solutions provider. Under this profile, its scope includes the delivery of end-to-end property development and property management services, overseeing over 20,000 property units across the UAE. Deyaar also provides facility management services for its portfolio of more than 18,000 commercial and residential units. The company additionally spearheads an association management team to ensure the wellbeing of Deyaar’s homeowners as a key priority.

Deyaar complies with the escrow legislation and relevant property laws in the UAE and is registered with the Real Estate Regulatory Authority under reference number 15/07.