Dubai: Deyaar Development PJSC (Deyaar), on Wednesday reported a net profit of Dh27.3 million for the second quarter of 2013 compared to Dh18.6 million reported in the same quarter last year.
The net profit for half year 2013 climbed to Dh46.7 million as compared to Dh28 million for half year 2012. The gross profit achieved in half year 2013 totalled Dh140.2 million as compared to Dh108.7 million for half year 2012. Deyaar’s shareholders’ equity stood at Dh4 billion while total assets reached Dh6.3 billion.
Saeed Al Qatami, Chief Executive Officer, Deyaar, said: “Our financial results of the second quarter of 2013 reflect renewed investor confidence and positive market sentiment. We are glad that our strategy to leverage the improving market situation with our offering of unmatched real estate options has paid off and helped us capture a significant increase in market share. Moving forward, we will continue to build on the profitability and cash flows, as well as the sale of completed projects to achieve our ambitious targets through the rest of the year.”
Deyaar is well-positioned to play a pivotal role in the development of the region’s property landscape. Its in-depth market intelligence, world-class services and unrivalled property management support for communities across diverse portfolios have firmly consolidated the company’s pioneering status in the region’s real estate landscape.