Deyaar Development PJSC

Deyaar Development PJSC, a leading real estate developer based in Dubai, has announced its Board of Directors' recommendation to distribute dividends for the second consecutive year. This move highlights the company's commitment to sustainable financial performance and long-term strategic goals. The proposed 5% dividend will be presented for approval at the upcoming General Assembly. Deyaar's Chairman, Mr. Abdullah Ali Al Hamli, emphasized the company's strong performance and future growth strategy, including expansion into other emirates. Deyaar is listed on the Dubai Financial Market and is majority-owned by Dubai Islamic Bank. Since its establishment in 2002, Deyaar has grown significantly, offering a wide range of commercial and residential properties in prime locations.

A strategic partnership agreement was signed between Umm Al Quwain Properties and Deyaar Development to develop projects on the Umm Al Quwain waterfront. The signing was witnessed by Sheikh Ahmed bin Saud bin Rashid Al-Mualla, Vice President of the Executive Council of Umm Al Quwain. Sheikh Majid bin Saud bin Rashid Al-Mualla and Mr. Saeed Mohammed Al Qatami, CEO of Deyaar Development, signed the agreement. The partnership aims to enhance modern infrastructure and promote sustainable tourism, aligning with Umm Al Quwain's strategic plan to enrich the tourism experience. Mr. Saeed Mohammed Al Qatami emphasized the goal of creating innovative residential spaces that balance modern living with nature.

Deyaar Development PJSC reported a net profit before corporate tax of AED 505.4 million for the year ending December 31, 2024, marking a 14.68% increase from AED 440.7 million in 2023. The company's revenue for the same period rose by 20.61% to AED 1,512.8 million, up from AED 1,254.3 million in 2023. This growth was driven by a 25.6% increase in Property Development revenue and a 5% rise in other business revenues. Total assets grew by 5.8%, and earnings per share increased by 8% to 10.83 fils. CEO Saeed Mohammed Al Qatami highlighted Deyaar's strategic expansion and commitment to growth, noting the company's entry into Abu Dhabi and the launch of new projects in Dubai.

Deyaar Development PJSC has announced the launch of Phase 2 of Park Five, a wellness-focused luxury residential community in Dubai Production City. This phase introduces 343 residential units, including studio, one-bedroom, two-bedroom, and three-bedroom options, designed to cater to modern urban families. The development is strategically located near key urban hubs, green spaces, healthcare facilities, and educational institutions, offering excellent connectivity and access to amenities such as shopping, dining, parks, schools, and hospitals. Park Five aims to enhance urban living by integrating greenery, traditional sikkas, and community spaces to promote social interaction and active lifestyles. The project reflects Deyaar's commitment to sustainable and value-driven developments in line with the UAE's vision for improved urban quality of life.