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Sun 26 Dec 2010 03:25 PM

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Deyaar to hand over projects valued at $327m in Q1

Property company plans to complete all pending projects by the end of next year

Deyaar to hand over projects valued at $327m in Q1
DEYAAR DEVELOPMENT: Deyaar Development is a property company part-owned by Dubai Islamic Bank (ITP Images)

Deyaar Development the property company part-owned by Dubai Islamic Bank, will hand over five projects valued at AED1.2bn ($327m) in the first quarter and plans to complete all pending projects by the end of next year.

The property projects that will be handed over are Hamilton, Mayfair Tower, Mayfair Residency, Metropolis Offices and Clayton Residency located in the Business Bay development, Deyaar said in a statement to the Dubai bourse on Sunday.

The company expects to collect AED600m, or 50 percent of the total sales value, on handing over the units, it said.