Deyaar announces $30.2 million in net profit for first half of 2016

08/08/2016 08:50 AST

Deyaar Development PJSC, a leading property developer and real estate service provider in Dubai, has announced its financial and operational results for the second quarter and six-month period ending June 30.

For the first half of the year, Deyaar earned roughly $30.2 million in net profit. Property revenues, such as those at landmark projects like the Mont Rose and the Atria, are healthy and show steady progress, as well.

“Deyaar’s steady performance in the first half of 2016 is reflected in higher revenues and a healthy net profit of AED 111 million,” Saeed Al Qatami, CEO of Deyaar, said.

Al Qatami noted that the 2016 focus for the company has been implementing measures to grow its business and improve efficiency. The company will continue to strive to deliver the best in real estate.

“Sustained demand in Deyaar’s portfolio of desirable properties, and the progress made on our key developments, including the launch of Midtown’s Afnan District in September 2015 and Dania District in April 2016, means that the company is well-positioned to grow going forward.”

Deyaar is listed on the Dubai Financial Market and is majority-owned by Dubai Islamic Bank (DIB). It has developed and delivered a wide range of commercial and residential properties throughout Dubai.


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