Press releases, Reports & Disclosures for Deyaar Development PJSC

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.

Deyaar Development PJSC, a leading real estate developer in Dubai, UAE, has announced a 206% year-on-year increase in its net profit for 2023, reaching AED 440.7 million. The company's total revenue also saw a 56% increase, reaching AED 1,254.3 million. This growth is primarily attributed to an increase in Property Development revenue, due to higher construction progress and successful sales achievements in 2023. The company also reported a 15% increase in revenue from other businesses. CEO Saeed Mohammed Al Qatami highlighted the launch of several new projects and the successful completion of others as key factors behind the successful year. He anticipates further growth in 2024.

Deyaar Development PJSC has announced the launch of its third project in Dubai's Al Furjan community, Rosalia Residences. The AED 300 million project follows the successful completion and sales of the first two projects, Amalia Residences and Millennium Talia Residences. Rosalia Residences will feature spacious apartments suitable for families, with one, two and three bedroom options. The development is conveniently located opposite the Discovery Gardens 2 Metro Station and close to city amenities. The project aims to provide a unique community living experience and further expand Deyaar's footprint in the thriving Al Furjan community.

Dubai-based real estate developer, Deyaar Development, and Abu Dhabi-based Arady Properties have signed a Memorandum of Understanding (MoU) to establish a joint residential development project on Al Reem Island in Abu Dhabi. The MoU aims to define the project's commercial objectives, provide a framework for further negotiations, and explore joint ownership development. The agreement was signed by Deyaar CEO, Saeed Al Qatami, and Arady Properties' Managing Director, Khalifa Alzaabi. The collaboration aims to contribute to the growth of Abu Dhabi's real estate sector by offering distinctive residential options for both local and international customers.