Deyaar Grows Revenues and Net Profit for Q1 2018
Deyaar Development PJSC (Deyaar), one of Dubai's leading property developers and real estate provider, today revealed its preliminary unaudited financial outcomes for the first quarter of 2018, finishing March 31, 2018.
Deyaar reported a strong year-on- year increase in revenues by virtually 25% to over AED 176 million [Q1 2017: AED 142 million] for the very first quarter 2018. Deyaar reported a healthy and balanced rise in web revenue by more than 25% to get to AED40 million for the three-month period [Q1 2017: AED 32 million]
The preliminary results for the very first quarter of 2018 were discussed during Deyaar's Board Satisfying held on 10 April, where the Board additionally talked about the capital position and framework and asked for the monitoring to curry out the required research studies and existing them to the board for discussion in the next Board Fulfilling.
Saeed Al Qatami, CEO of Deyaar, said: "Deyaar's steady performance in the initial quarter of 2018 is mirrored in higher revenues and a healthy internet revenue. During the first three months of 2018, Deyaar has made major ground in its iconic projects. As we recently handed over the Mont Rose project and are making significant development on The Atria, Midtown, and Millennium Deyaar Hotel & Apartments in Al Barsha, Deyaar is revealing commitment to more expanding its profile and continues to progress our condition as a leader in the sector.
Deyaar started 2018 with a strong begin, with the handover procedure for the two property towers in its iconic Mont Rose project. The company likewise expects to provide The Atria in Q2 2018. Presently near conclusion, The Atria lies in Business Bay and makes up a four-star hotel apartment tower and a residential tower.
Noted on the Dubai Financial Market and majority-owned by Dubai Islamic Bank (DIB), Deyaar is among Dubai's leading designers, with realty endeavors spanning key growth hallways and prime locations within the emirate. Throughout the years, Deyaar has delivered an extensive profile of business and residential properties, all offering the highest levels of Dubai Financial Market.
