Deyaar Development PJSC is a construction-related company operating in Dubai.
Deyaar is listed on the Dubai Financial Market and majority-owned by Dubai Islamic Bank.
It is among the top ten property developers in Dubai.
On 1st May 2019 Deyaar Development reported AED18.3 million ($4.9 million) net profit for the first quarter, less than half the AED40 million posted in Q1 2018. Revenues of AED175.8 million were slightly down on the AED176.5 million reported in Q1 2017.
Deyaar’s revenues increased in 2017 to Dh751.6 million from Dh428.3 million in 2016.
Net profit was lower, at Dh130.4 million, compared to Dh216.1 million in 2016.
Two completed projects are due to be handed over in 2018, the $151.6m (AED 556.9m) Mont Rose with a built-up area of 79,990 square metres,and The Atria, a $331.6m (AED1.2bn) development with a built-up area of 130,064.
These two projects represent Deyaar’s entry into the UAE hospitality industry. The developer’s hospitality portfolio also includes the Deyaar Barsha Hotel project in Al Barsha.
Two residential districts, Afnan and Dania, in Midtown in Dubai’s International Media Production Zone (IMPZ) are expected to be delivered by the third quarter of 2019.