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18/01/2018 05:46 AST
Deyaar Development, one of Dubai's leading real estate service providers, has reported revenues of Dh751.6 million ($205 million) for 2017, up 75 per cent over Dh428.3 million the previous year.
Announcing its preliminary unaudited financial results for the full year ended December 31, 2017, Deyaar said this growth was mainly driven by steady progress on Midtown construction, which is on track with its Afnan and Dania districts to be completed by Q3 2019 with the next phase to be announced later this year.
The company said 2018 will also see Deyaar's foray into the hospitality sector, and the handover of two of the company's flagship developments, The Mont Rose and The Atria.
The net profit for 2017 fell to Dh130.4 million from Dh216.1 million in 2016, which included a write-back of provision for impairment of investment in an associate and fair valuation gain on investment properties.
On the performance, CEO Saeed Al Qatami said: "Deyaar witnessed significant progress in its projects and hospitality division in 2017, as part of its commitment to diversifying the offering in line with the requirements of the UAE market."
"In addition to continued work on our portfolio of properties. Looking forward to the year to come, we will hand over two of our flagship properties, The Mont Rose and The Atria, and we are optimistic that 2018 will be a year of positive growth for our company," he added.
Trade Arabia
01/08/2025
Deyaar Development , an integrated real estate leader in Dubai, on Thursday announced that first half net profit before tax rose 31.6 per cent to Dh266.6 million.
Total revenue climbing 39.2
Khaleej Times
02/04/2018
Deyaar Development, one of Dubai's leading property developers and real estate service providers, said it has won the prestigious Best Real Estate Project - Affordable Housing Award for Midtown at th
Trade Arabia
17/01/2018
Dubai Islamic Bank (DFM: DIB), the first Islamic bank in the world and the largest Islamic bank in the UAE, today announced its results for the year ended December 31, 2017.
Profitability
Press Release
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14/08/2025
Bank ABC Islamic reported a net profit of $26.9 million for the first half of 2025, a 7.3% increase compared to $25.1 million for the same period last year.
The performance was driven by
Trade Arabia
14/08/2025
In a testament to the success of the Bank's ongoing digital transformation, Burgan Bank announced the successful renewal of its International Organization for Standardization and International Electr
Kuwait Times
14/08/2025
OQ Exploration and Production (OQEP), Oman's exploration and production company, has released its financial results for the first half of the fiscal year ending June 30, 2025.
The company r
Trade Arabia
14/08/2025
As part of its strategic partnership with LOYAC, and within its ongoing commitment to youth and society development, NBK sponsored the "Green Adventure" program aimed to build future leaders. The "Gr
Kuwait Times
14/08/2025
e&, a global technology group, has launched Monitoring-as-a-Service (MaaS), a groundbreaking solution set to redefine infrastructure monitoring in the UAE.
By enabling a new level of opera
Trade Arabia
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