Deyaar Development revenues surge 25pc in Q1
DUBAI, April 14, 2018
Deyaar Development, one of the leading property developers in Dubai, UAE, has reported a year-on-year increase in revenues which hit Dh176 million ($48 million) for the first quarter of 2018, up 25 per cent compared to Dh142 million last year.
Announcing its preliminary unaudited financial results for the period ending March 31, 2018, Deyaar said it registered a healthy rise in net profit by more than 25 per cent to hit Dh40 million for the three-month period, compared to Dh32 million in the same period last year.
CEO Saeed Al Qatami said: "Deyaar’s steady performance in the first quarter of 2018 is reflected in higher revenues and a healthy net profit. During the first three months of 2018, Deyaar has made major headway in its iconic projects."
"As we recently handed over the Mont Rose project and are making significant progress on The Atria, Midtown, and Millennium Deyaar Hotel and Apartments in Al Barsha, Deyaar is showing commitment to further expanding its portfolio and continues to advance our status as a leader in the sector," he added.-TradeArabia News Service
