Property Trends

Dubai’s Deyaar reports revenues of Dh483.3 million for nine months of 2019

Dubai: Deyaar Development on Thursday announced its financial results for the nine months ended 30 September, 2019. The company reported revenues of Dh483.3 million, an increase of 3.6 per cent compared to Dh466 million in the same period of 2018.

Net profit for the nine months of 2019 was reported as Dh53 million, said a press release issued by the company on Thursday.

Commenting on the results, Saeed Al Qatami, CEO of Deyaar, said, “This year has seen Deyaar’s hospitality portfolio well and truly established, with the opening of the Millennium Atria Business Bay and Millennium Al Barsha. These three premium projects will deliver future recurring income. The Afnan District, part of our first integrated urban community, Midtown, is completed, which will mark a momentous occasion as we prepare to welcome residents into this outstanding family-friendly development.”

While Afnan District is getting ready for handover, the second of Midtown’s six districts, Dania with 579 apartments, is expected to be completed by the end of 2019.

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