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DUBAI / Emirates Business
Deyaar Development PJSC (Deyaar), one of Dubai’s leading property developers and real estate service providers, announced its preliminary unaudited financial results for the full year ended on December 31, 2018.
The company reported revenues of AED643.7 million in 2018, compared to AED 751.6 in 2017. Net profit rose by 7.4% from AED 130.4 million in 2017 to AED 140.1 million in 2018.
Saeed Al Qatami, CEO of Deyaar said: “Last year was a positive one for Deyaar. We delivered two projects, and have made solid progress on our ongoing developments. The diversification of our business is on track, with a strong year behind it and an exciting year ahead, in which we will continue to focus on extending our reach into the hospitality sector by welcoming a new revenue stream from three hospitality projects.â€
At Cityscape 2018, Deyaar launched Bella Rose residential project which will offer studios, one- and two-bedroom apartments in a well-appointed 18-storey tower, loc- ated in Dubai Science Park.