Deyaar Development PJSC

Ticker/ISIN

DEYAAR

AED001001018

Market/Country

Dubai Financial Market

United Arab Emirates

About Deyaar Development PJSC

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 from Deyaar Development PJSC

Deyaar Development PJSC has launched Park Five, a luxury residential community in Dubai Production City, valued at AED 1.5 billion. The development emphasizes wellness and sustainability, offering competitively priced luxury living with integrated wellness features. Strategically located near urban hubs and essential facilities, Park Five includes the Elm and Ember towers in its first phase, offering studios and one to three-bedroom residences with prices starting from AED 888,000. The project features amenities such as yoga lawns, outdoor co-working spaces, fitness centers, and more, all designed to promote holistic well-being and sustainability.

Disclosure: Press release

22 days ago

Deyaar Development PJSC, a prominent UAE property developer, has sold out its first residential project in Abu Dhabi, RIVAGE, located on Al Reem Island. The project attracted strong interest from investors and homebuyers, reflecting high demand. This development is expected to significantly contribute to Abu Dhabi's economic growth, offering a variety of residential options for investors and families. Deyaar emphasizes its commitment to creating innovative and sustainable projects that support community needs and regional economic development. Established in 2002 and headquartered in Dubai, Deyaar has grown to become a leader in the region's real estate industry, providing comprehensive property development and management services across the UAE.

Disclosure: Press release

a month ago

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.

Disclosure: Press release

a month ago

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.

Disclosure: Press release

a month ago

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.

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

5 months ago

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.

Disclosure: Press release regarding financial results for the 1st QTR of 2024

7 months ago

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.

Disclosure: Resolutions of General Assembly

8 months ago

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.

Disclosure: Invitation of General Assembly

9 months ago