Deyaar Development PJSC (Deyaar), a major property developer
and real estate service provider in Dubai, released its third quarter results
this week.
The company’s net profit was $45.7 million, with total revenues
at $710 million.
Deyaar has also recently announced that work is underway on
its latest project, a hotel and serviced
apartment complex situated close to the Mall of Emirates in the Al Barsha area.
The development, which is a response to increasing demand for hotel and
serviced apartment accommodation, will have 408 units — 299 hotel rooms and 109
services apartments.
The property will be located on a total plot size of
70,800 square feet and will be completed by early 2018.
“Over the course of the
year, we have made significant progress on our flagship developments,” a representative said. “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.”
