Dubai: Deyaar Development (Deyaar), one of Dubai’s leading property developers and real estate service providers reported Dh22.6 million net profit for the first-half of 2021 from Dh8.5 million in the same period last year.
The company announced in its unaudited results for the first six months of 2021 an increase in revenue to reach Dh297.4 million compared to Dh174.5 million for the same period last year.
The company continued its steady performance during the last period to achieve positive results with an increase in both revenue and net profit in the first half of this year. We continue to focus on improving the efficiency of our business and meeting the growing demand for high-quality real estate projects
The company recently launched Regalia project, which will be a unique addition to the luxury real estate sector in Dubai. The project witnessed great demand from customers since the first days of launch. Additionally, the construction work in the new phases of our Midtown project is progressing well.
Last month, the company launched a Dh1 billion skyscraper ‘Regalia’ in Business Bay. The 70-story tower offers luxury smart home-enabled apartments and wide range of recreational and wellness amenities. The development is expected to be completed in December 2024.