Friday 26 April 2019

Deyaar's revenue for nine months hits $121m

DUBAI, October 17, 2018

Deyaar, a leading property developer in Dubai, UAE, has registered a revenue of Dh446 million ($121 million) for the first nine months when compared to Dh511.9 million ($139 million) for the same period last year.

Announcing the results for the nine-month period ending September 2018, Deyaar said its net profit for the period remained steady at Dh100.8 million compared to Dh100.3 million last year.

So far this year, the Emirati developer had handed over two of its flagship residential towers - The Atria, in Business Bay, and the Mont Rose, located in Dubai Science Park, it stated.

On the performance, CEO Saeed Al Qatami said: "Our focus this year has been on our strategy of delivering high quality projects to our customers, who are now able to enjoy their investments in two of our most iconic properties, The Atria and the Mont Rose, to the fullest."

"Beyond this, we have made significant progress on our ongoing developments in addition to launching new project in Dubai Science Park. We will continue to work to the highest possible standards in order to complete our projects within the set timeline," he stated.

As of September, construction of the Afnan and Dania districts of Deyaar’s Midtown development has reached the halfway mark, with unit sales in both districts exceeding 90 per cent, said the top developer.

Work on the Deyaar Millennium Hotel and Serviced Apartments, located close to Mall of the Emirates in Al Barsha, is expected to wrap up by the end of 2018, it added.-TradeArabia News Service


Tags: UAE | Deyaar | Dubai developer |

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