Dubai developer Deyaar has announced significant increases in both net profit and revenue for the first six months of 2021 as it continues to launch projects in the emirate.
Deyaar Development announced an increase in revenue to reach AED297.4 million compared to AED174.5 million for the same period last year.
The company also witnessed an increase in net profit of AED22.6 million for the first half of the year from AED8.5 million in the same period last year.
Saeed Al Qatami (pictured below), CEO of Deyaar, said: “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, Deyaar launched the AED1 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.
Follow us on
