Deyaar climbs near to 200%

by ArabianBusiness.com staff writer Saturday, 10 February 2007

Dubai Islamic Bank's real estate arm, Deyaar, has announced its financial results for 2006. Net profit increased by 192% to US $112 million (AED412 million), compared to $38.6 million in the previous year.

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The rise in net profit was led by a phenomenal growth in sales, which stood at $871 million in 2006, from $462 million last year. During 2006, Deyaar's asset base increased to $816 million from $272 million in the previous year. Its year-on-year Return on Capital rose to 41% in 2006 from 28% in 2005.



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