Dubai-UAE: 1 August, 2013 - Deyaar Development PJSC (Deyaar), a customer-focused, trusted and valued developer with in-depth market intelligence and property management expertise, today announced it registered an increase in consolidated net profit in the second quarter of 2013, grossing AED27.3 million from AED18.6 million during the prior-year period.
The net profit for half year 2013 climbed to AED46.7 million as compared to AED28 million for half year 2012. The gross profit achieved in half year 2013 totaled AED140.2 million as compared to AED108.7 million for half year 2012. Deyaar’s shareholders’ equity stood at AED4 billion while total assets reached AED6.3 billion.
Saeed Al Qatami, Chief Executive Officer, Deyaar, said: “Our financial results of Q2 2013 reflect renewed investor confidence and positive market sentiment. We are glad that our strategy to leverage the improving market situation with our offering of unmatched real estate options has paid off and helped us capture a significant increase in market share. Moving forward, we will continue to build on the profitability and cash flows, as well as the sale of completed projects to achieve our ambitious targets through the rest of the year.”
Deyaar is well-positioned to play a pivotal role in the development of the region's property landscape. Its in-depth market intelligence, world-class services and unrivalled property management support for communities across diverse portfolios have firmly consolidated the company’s pioneering status in the region’s real estate landscape.
Deyaar Development PJSC is a leading real estate developer and real estate services company, headquartered in Dubai. Since its establishment in 2002, the company has registered exponential growth to become an industry leader in the region, with a share capital of AED5.78 billion.
Deyaar is well-positioned to play a pivotal role in the development of the region's property landscape. The company’s in-depth market intelligence, world-class services and unrivalled property management support for communities across diverse portfolios have firmly consolidated its pioneering status in the region’s real estate landscape.
Combining excellence with a vision to create natural living environments while placing customers at the core of its strategies, Deyaar additionally serves as a one-stop real estate solutions provider. Under this profile, its scope includes the delivery of end-to-end property development and property management services, overseeing 15,000 property units across the UAE. Deyaar also provides facility management services for its portfolio of more than 18,000 commercial and residential units. The company additionally spearheads an association management team to ensure the wellbeing of Deyaar’s homeowners as a key priority.
Deyaar complies with the escrow legislation and relevant property laws in the UAE and is registered with the Real Estate Regulatory Authority under reference number 15/07.