Deyaar Development PJSC ("Deyaar "), one of Dubai's leading property developers and real estate services providers, today announced its financial results for the nine months ended September 30, 2019.
The company reported Revenue for the nine months ended September 30, 2019 was AED 483.3 million, an increase of 3.6% compared to AED 466 million for the same period in 2018. Net profit for the nine months to 2019 was reported at AED 53 million.
Saeed Al Qatami, CEO of Deyaar said: “With the opening of the Millennium Atria Business Bay and Millennium Al Barsha, this year, Deyaar’s hospitality portfolio has been well and truly established. These three premium projects will provide future recurring income. The Afonan District is part of our first integrated urban community, Midtown, is completed, which marks an important occasion as we prepare to welcome residents into this wonderful family-friendly development.”
While Afonan district is preparing to hand over, the second of Midtown's six districts, Dania with 579 apartments, is expected to be completed by the end of 2019. There are a total of 659 apartments in seven buildings in the Afnan district, from studios through to three-bedroom units - all of which have been sold.
Listed on the Dubai financial market and owned by the majority of the Dubai Islamic Bank (DIB), Deyaar is one of Dubai's leading developers, with real estate initiatives spanning major growth corridors and prime locations within the emirate.Over the years, Deyaar has provided a comprehensive portfolio of commercial and residential properties, all of which offer the highest level of service and quality.