Thursday, 08 January 2009
updated 1 minute ago
20:25 UAE time

YOUR DIRECTORY /

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 ↓

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

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Email *	(Your email address will not be published)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 *
Please click post only once - your comment will not be published immediately.

< Previous article
Eight die in Sharjah over Eid break

Next article >
GCC markets suffer 57% fall in 2008

TOP IN MIDDLE EAST REAL ESTATE

ALSO IN MIDDLE EAST REAL ESTATE

LATEST MIDDLE EAST BUSINESS NEWS

EMAIL ALERTS

CONTACTS
Advertise
Who's Who

MOST POPULAR REAL ESTATE STORIES

EMIRATES ID DOWNLOAD

READER COMMENTS

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 »
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 »
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