Deyaar Development announces $45.7 million in profit for first nine months of 2016

Deyaar Development PJSC (Deyaar) recently announced its financial and operational results for the third quarter and nine-month period ending Sept. 30.

Deyaar is one of the region’s major property developers and real estate service providers.
 
Revenue for the first nine months of the year was $71 million, while net profit grew to a healthy $45.7 million.
 
“Deyaar has continued to perform strongly in 2016 with significant increases in revenues and a strong and healthy net profit of AED 168 million,” Saeed Al Qatami, CEO of Deyaar, said. “This confirms that our long-term strategy is adaptable to Dubai’s evolving real estate environment and that customers continue to trust Deyaar’s differentiated propositions.”
 
Al Qatami stated that progress on the company’s flagship developments have been significant. He believes Deyaar has become a leader in the industry due to a diversified portfolio that appeals to multiple markets.
 
“Deyaar’s diversified portfolio which includes project development, property management, facilities management and owners’ association management is growing, while our differentiated offerings, appealing to both mid-market and luxury customers, continues to advance Deyaar’s status as a leader in the sector,” Al Qatami said.