Deyaar revenue up 96% to Dh512m in first 9 months
Increase attributable to robust sales and acceleration of progress in construction of developer’s flagship projects
Dubai: Deyaar Development PJSC (Deyaar), a property developer and real estate services provider, today reported revenues of Dh512 million for the first nine months of the year, a 96 per cent increase over the Dh261 million seen in the same period in 2016.
The increase is attributable to robust sales and the acceleration of progress in the construction of Deyaar’s flagship projects, including The Atria and Mont Rose, both of which currently have passed the 80 per cent completion mark. The Midtown project is on track for completion by the third quarter of 2019.
Deyaar recorded a gross profit of Dh182 million in the third quarter of 2017, compared to Dh105 million posted in the same period last year, while net profit stood at Dh100 million, compared to Dh167 million in same period last year.
