Deyaar Development PJSC
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
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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.