Deyaar Development PJSC

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.

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.

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.

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.