Deyaar Development PJSC — Earnings Release 2016

Apr 21, 2016

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Press Release

Deyaar Announces Its Preliminary Q1 Unreviewed Results Registering AED 51 Million in Net Profit

Dubai-UAE: 21 April, 2016 – Deyaar Development (Deyaar), a customer-focused, trusted and valued developer with in-depth market intelligence and property management expertise, today announced its preliminary Q1 unreviewed financial results registering AED 51.03 million in net profits, and AED 60.2 million in revenue compared to AED 36.2 million during same period last year.

Saeed Al Qatami, CEO of Deyaar, said: “Deyaar’s strategy to continuously grow and diversify its portfolio of developments and services has helped us avoid impact of any fluctuations in the real estate sector, as a result of the global economic conditions such as dwindling oil prices. The results achieved in the first quarter of this year affirm that our corporate strategy remains sound and strong placing the stakeholders’ value at the top of its priority.”

Deyaar has recently launched Dania District, the second phase of its mega Midtown development, which includes six residential buildings ranging from G+7 to G+16 comprising a total of 579 apartment units in varying sizes.

In addition to delivering end-to-end property development and property management services and overseeing a wide range of property units across the UAE, Deyaar today also provides facility management services to commercial and residential units.

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