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18/01/2018 05:46 AST
Deyaar Development, one of Dubai's leading real estate service providers, has reported revenues of Dh751.6 million ($205 million) for 2017, up 75 per cent over Dh428.3 million the previous year.
Announcing its preliminary unaudited financial results for the full year ended December 31, 2017, Deyaar said this growth was mainly driven by steady progress on Midtown construction, which is on track with its Afnan and Dania districts to be completed by Q3 2019 with the next phase to be announced later this year.
The company said 2018 will also see Deyaar's foray into the hospitality sector, and the handover of two of the company's flagship developments, The Mont Rose and The Atria.
The net profit for 2017 fell to Dh130.4 million from Dh216.1 million in 2016, which included a write-back of provision for impairment of investment in an associate and fair valuation gain on investment properties.
On the performance, CEO Saeed Al Qatami said: "Deyaar witnessed significant progress in its projects and hospitality division in 2017, as part of its commitment to diversifying the offering in line with the requirements of the UAE market."
"In addition to continued work on our portfolio of properties. Looking forward to the year to come, we will hand over two of our flagship properties, The Mont Rose and The Atria, and we are optimistic that 2018 will be a year of positive growth for our company," he added.
Trade Arabia
02/04/2018
Deyaar Development, one of Dubai's leading property developers and real estate service providers, said it has won the prestigious Best Real Estate Project - Affordable Housing Award for Midtown at th
Trade Arabia
17/01/2018
Dubai Islamic Bank (DFM: DIB), the first Islamic bank in the world and the largest Islamic bank in the UAE, today announced its results for the year ended December 31, 2017.
Profitability
Press Release
17/01/2018
Deyaar Development PJSC ("Deyaar"), one of Dubai's leading property developers and real estate service providers, today announced its preliminary unaudited financial results for the full year ended D
Press Release
| Ticker | Price | Volume |
|---|---|---|
| TRAFCO | 0.29 | 0 |
| EMIRATES | 58.80 | 0 |
| JAZADCO | 13.40 | 253,503 |
| ANAAMHOLDING | 1.25 | 14,471,369 |
| OMVS | 0.33 | 3,105 |
| SAUDIKAYAN | 6.74 | 2,338,843 |
| ALNAQOOL | 33.00 | 1,463 |
14/09/2024
RIYADH: Saudi master developer Emaar The Economic City's SR8.7 billion ($2.32 billion) capital optimization plan is a "strategic response" to its current financial challenges, according to its CEO. <
Saudi Gazette
12/09/2024
Saudi wheat flour producer Arabian Mills for Food Products Co. has set its final initial public offering price at SR66 ($17.59) per share on the Tadawul main market. During the book-building proces
Arab News
04/05/2018
SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.
Saudi Gazette
05/04/2018
Standard & Poor's (S&P) has affirmed QIB's Issuer Credit Rating at A-, Qatar's leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB's rating
Gulf Times
05/04/2018
Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told
The Peninsula
Financial Information Co.
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