ArabianBusiness.com - Middle East Business News
Thursday, 08 January 2009 20:25 UAE time

YOUR DIRECTORY /

Print this page Print this page | Email this to a friend Email this to a friend | Discuss this article (0 Comments) |

Deyaar profit jumps 56%

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Sunday, 05 October 2008
PROFIT JUMP: Deyaar posted profit of $84.9 million in the third quarter. (ITP Images)

Dubai developer Deyaar Development said on Saturday third quarter profit rose 56 percent on the back of increased property sales.

The company posted Q3 net profit of 312 million dirhams ($84.9 million), or 0.213 fils per share, compared to 200.2 million dirhams, or 0.137 fils per share, for the same period last year.

Revenue rose to 1.01 billion dirhams in Q3, compared to 214.9 million dirhams for the year-earlier period, it said.

Deyaar CEO Markus Giebel said the company was "sharply focused" on delivering the bulk of its projects currently under development by 2010.

Story continues below
advertisement

Giebel also said the company was in talks with other developers "to establish local partnerships and joint ventures in key international markets".

Print Print | Email Email | Discuss this article |


READERS' COMMENTS


Click here to post a comment


Add your Comment
All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Name *
Remember me on this computer
Email *
(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments
Security Code * Code


Please click post only once - your comment will not be published immediately.


MORE FROM ARABIANBUSINESS.COM

 EMAIL ALERTS

  1. Deyaar Development PJSC

  2. Real Estate



Rich List 2008
EMIRATES ID DOWNLOAD

READER COMMENTS

  1. RERA clamps down hard on developers 5
    08 Jan ' 09 at 15:59
    I am not negative but absolutely hopelessly negative on UAE prop markets future. Instead of making laws favorable, all laws were quite...  More »
  2. Villa prices fall by up to 45% amid real estate slump 4
    08 Jan ' 09 at 17:50
    ....i.e. if you can find financing. Glad that many people are scared to buy right now. I am desperately looking for 85% and above...  More »
  3. 70% of $545mn Ajman Uptown project sold 1
    07 Jan ' 09 at 23:47
    We need Clarification from Sweet Homes on all their projects, we need the latest news, we need emails for all those who invested with...  More »
Read all user comments >

BUSINESS FEATURES

Financing a city

Brian Meilleur reviews the challenges of securing $ 1.3bn in financing for Qatar's Al Wa'ab City.

Bolt from the Blue

Poor financial ratings and the credit crunch are coming to bear on Oman's much-hyped megacity, Blue City.

Building a brand

As more and more projects are launched in the Gulf, developers are ploughing millions into marketing.

BUSINESS INTERVIEWS

From phones to homes

Everyone in the UAE has heard of Etisalat, though few know of its real estate division. Ahmed Al Jarwan, general manager of e-Real Estate explains how the company has grown since its inception two years ago.

Alternative assets

Dresdner Bank's Nigel Putt and Anton Simonet explain the benefits of diversifying ones portfolio.

African ambition

Hayan Merchant of Ruwaad Holdings on his company's plans for a spectacular-scale development in South Africa.

MORE FROM ARABIANBUSINESS.COM