Deyaar Development PJSC

Logotype for Deyaar Development PJSC
Ticker/ISIN
DEYAAR
AED001001018
Market/Country
Dubai Financial Market
United Arab Emirates
Latest Stock Price
0.81 AED
2024-11-08

Year to date

0.23 %

3 months

0.29 %

6 months

0.18 %

1 year

0.36 %

3 years

0.00 %

5 years

0.00 %

Country of Origin: United Arab Emirates (U.A.E)

Deyaar Development PJSC (the “Company”) was incorporated and registered as a Public Joint Stock Company in the Emirates of Dubai, UAE on 10 July 2007.

The principal activities of the Company and its subsidiaries (together, “the Group”) are property investment and development, mechanical, electrical and plumbing, brokering, facility and property management services.

Latest Pressrelease Summaries

Deyaar Development PJSC reported a profit before tax of AED 348.8 million for the nine months ending September 2024, marking a 47% increase from AED 237.5 million in the same period in 2023. Revenue for the same period rose by 11% to AED 1,040.5 million from AED 939.8 million in 2023. For the third quarter of 2024, profit increased by 23% year-on-year to AED 146.2 million, with revenue rising by 21% to AED 376.1 million. Earnings per share for the year-to-date reached 7.51 fils, up 38% from 5.43 fils in 2023, with a third-quarter increase of 18% to 3.20 fils. The company's CEO, Saeed Mohammed Al Qatami, attributed the growth to strategic planning, successful projects, and the positive reception of their diverse property portfolio in the UAE.
Deyaar Development PJSC has launched its first residential project in Abu Dhabi, named RIVAGE, on Al Reem Island. This development is a result of a strategic partnership with Arady Properties PSC. RIVAGE offers a variety of luxury living options, including 1, 2, and 3-bedroom residences, duplexes, Sky Villas, and Sky Palaces, all with world-class amenities and sustainable design. The project is strategically located near key facilities such as Zayed International Airport, universities, and malls. Deyaar's CEO, Saeed Mohammed Al Qatami, expressed excitement about expanding into Abu Dhabi, highlighting the project's blend of city life and waterfront serenity. Khaled Al Fahim, Chairman of Arady Properties, emphasized the collaboration's success and the project's potential to become a sought-after residential destination.
Deyaar Development PJSC reported a net profit before tax of AED 202.6 million for the first half of 2024 (H1 2024), marking a 71% year-over-year (YOY) increase from AED 118.5 million in H1 2023. The company's total assets grew by 6%, reaching AED 6,598 million as of June 30, 2024, compared to AED 6,226 million a year earlier. Revenue for H1 2024 was AED 664.4 million, up from AED 628.9 million in H1 2023. Earnings per share increased by 59%, from 2.71 fils in H1 2023 to 4.31 fils in H1 2024. Additionally, Q2 2024 saw a 101.41% YOY profit growth, amounting to AED 125.1 million. CEO Saeed Mohammed Al Qatami attributed the growth to strategic directions and business models, highlighting significant milestones such as the release of dividends and the launch of new projects like Rosalia Residences and ELEVE in Dubai.
In Q1 2024, Deyaar Development PJSC reported a 38% year-on-year increase in its net profit before tax, reaching AED 77.5 million, up from AED 56.4 million in Q1 2023. The company's total assets increased by 7%, reaching AED 6,704 million, and its revenue for the three-month period ending March 2024 was AED 327.8 million, a 5% increase from the previous year. Liquidity also increased due to robust receivables and increased customer advances. Earnings per share increased from 1.29 fils in Q1 2023 to 1.67 fils in Q1 2024. The company also announced the approval of dividend distribution for the first time in its history.
On 18th April 2024, Deyaar Development PJSC held an online general assembly meeting chaired by Mr. Abdallah Ali Obaid Al Hamli, with a quorum of 51.32%. The meeting approved the Board of Directors' report on company activities and financial position for the year ended 31st December 2023, the Auditor's report on the company's financial position for the same period, and the company's balance sheet and profit and loss account. The meeting also approved a cash dividend proposal of 4% of the share capital, the Board's remuneration proposal, and discharged the members of the Board and the company's auditors for the year ended 31st December 2023. The assembly also appointed the company's external auditors and determined their fees.
In line with Clauses 1 and 2 of Article 40 of the Corporate Governance Manual, shareholders are informed that they are allowed to delegate someone who is not a Board member or an employee of the company or securities brokerage firm to attend the general assembly and vote on their behalf. However, a delegate for multiple shareholders cannot hold more than 5% of the company's issued capital. The shareholder's signature on the power of attorney must be approved by a recognized authority such as a Notary Public, a Commercial Chamber or economic department, a licensed bank or company in the state, or any other licensed entity. The proxy form should include the shareholder's and the brokerage firm's contact details. The shareholder has the power to issue the proxy according to their discretion, but the signature on the proxy must be approved by a recognized authority. For further inquiries, contact 04-3840175 or email ir@deyaar.ae.
The Board of Directors of Deyaar Development PJSC, a leading real estate developer in Dubai, UAE, has approved the distribution of dividends for the first time in the company's history. The Board recommended a dividend of 4% of the share capital (AED 175 million), which will be presented to the General Assembly for approval. The decision marks a significant milestone for Deyaar, reflecting its steady growth. The company's Annual General Assembly Meeting is set for 5th April. Deyaar is listed on the Dubai Financial Market and majority-owned by Dubai Islamic Bank (DIB).
Dubai-based property developer, Deyaar Development, has launched its new residential project, ELEVE, in Downtown Jebel Ali. The project, located on Sheikh Zayed Road, is characterized by its luxurious lifestyle, proximity to transport networks and shopping malls, and open views towards the Arabian Gulf. The development, which aligns with Dubai's 2040 Urban Master Plan, includes 33 floors of residential units, ranging from studios to three bedrooms, and offers amenities such as a gym, swimming pool, jacuzzi, multipurpose hall, outdoor seating and BBQ areas. The project also includes four floors of parking and service areas and a retail arcade on the ground floor. Construction is set to be completed in Q2 of 2027.

Threads

Page 1
Dubai Financial Market News

Dubai Financial Market News

News Update From Deyaar Development PJSC

Disclosure: Press release

Deyaar Development PJSC reported a profit before tax of AED 348.8 million for the nine months ending September 2024, marking a 47% increase from AED 237.5 million in the same period in 2023. Revenue for the same period rose by 11% to AED 1,040.5 million from AED 939.8 million in 2023. For the third quarter of 2024, profit increased by 23% year-on-year to AED 146.2 million, with revenue rising by 21% to AED 376.1 million. Earnings per share for the year-to-date reached 7.51 fils, up 38% from 5.43 fils in 2023, with a third-quarter increase of 18% to 3.20 fils. The company's CEO, Saeed Mohammed Al Qatami, attributed the growth to strategic planning, successful projects, and the positive reception of their diverse property portfolio in the UAE.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Deyaar Development PJSC

Disclosure: Financial statements for the 3rd QTR of 2024

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Deyaar Development PJSC

Disclosure: Results of BOD Meeting

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Deyaar Development PJSC

Disclosure: Press release

Deyaar Development PJSC has launched its first residential project in Abu Dhabi, named RIVAGE, on Al Reem Island. This development is a result of a strategic partnership with Arady Properties PSC. RIVAGE offers a variety of luxury living options, including 1, 2, and 3-bedroom residences, duplexes, Sky Villas, and Sky Palaces, all with world-class amenities and sustainable design. The project is strategically located near key facilities such as Zayed International Airport, universities, and malls. Deyaar's CEO, Saeed Mohammed Al Qatami, expressed excitement about expanding into Abu Dhabi, highlighting the project's blend of city life and waterfront serenity. Khaled Al Fahim, Chairman of Arady Properties, emphasized the collaboration's success and the project's potential to become a sought-after residential destination.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Deyaar Development PJSC

Disclosure: BOD meeting

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Deyaar Development PJSC

Disclosure: Financial statements for the 2n QTR of 2024

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Deyaar Development PJSC

Disclosure: Press release regarding financial results for the 2nd QTR of 2024

Deyaar Development PJSC reported a net profit before tax of AED 202.6 million for the first half of 2024 (H1 2024), marking a 71% year-over-year (YOY) increase from AED 118.5 million in H1 2023. The company's total assets grew by 6%, reaching AED 6,598 million as of June 30, 2024, compared to AED 6,226 million a year earlier. Revenue for H1 2024 was AED 664.4 million, up from AED 628.9 million in H1 2023. Earnings per share increased by 59%, from 2.71 fils in H1 2023 to 4.31 fils in H1 2024. Additionally, Q2 2024 saw a 101.41% YOY profit growth, amounting to AED 125.1 million. CEO Saeed Mohammed Al Qatami attributed the growth to strategic directions and business models, highlighting significant milestones such as the release of dividends and the launch of new projects like Rosalia Residences and ELEVE in Dubai.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Deyaar Development PJSC

Disclosure: Results of BOD Meeting

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Deyaar Development PJSC

Disclosure: BOD meeting

1. Attached Document

AkSharesKumar

AkSharesKumar

Commented on RealEstateKings Transaction regarding Deyaar Development PJSC

Smart move! Diversifying into Deyaar Development at 0.74 AED shows sharp foresight. Real estate can balance your Utilities investments well. Keep shining and building that robust portfolio!
Page 1