Deyaar Development PJSC — Regulatory Filings 2019

Oct 2, 2019

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Press Release

Deyaar launches utilities management company, Nationwide Management LLC

Dubai, UAE: 2 October 2019 – Deyaar Development PJSC (“Deyaar”), one of Dubai’s leading property developers and real estate service providers, has announced the expansion of its portfolio with Nationwide Management LLC for the supply, management and retrofit of utility management across various buildings and communities.

The new company will focus on delivering superior utilities management solutions, complementary to services currently offered by Deyaar’s business portfolio.

Currently serving 21 projects, Nationwide offers solutions including Utilities (Chilled Water) Submetering and Billing Services, and Car Park Management. This would enable delivery of superior customer service in the form of Chilled Water Submetering services consisting of customer registration and management, automated meter reading, maintenance of BTU metering systems, automated billing, consumption monitoring, online payments and statements, amongst others.

Nationwide delivers customer convenience through the use of smart technology solutions that enable remote monitoring and trend analysis based on big data. The new company would also provide monitoring of each of the chilling unit utility (BTU) meters to identify, rectify, bill in the event of failure of any of the meters. The timeline for such processes would be cut from 2-4 days to just 2-4 hours.

Saeed Al Qatami, CEO of Deyaar, said: “We pride ourselves on understanding our customers, and responding accordingly to whatever the needs of our market may be. The launch of Nationwide Management LLC is the result of recognizing the need for specialized technology solutions that deliver specifically to the requirements of building owners. This is an exciting new venture and we wish to embrace more of technology for product and service delivery to meet the ever-growing needs and wants of customers.”

Listed on the Dubai Financial Market, Deyaar is one of Dubai’s leading developers, with real estate ventures spanning key growth corridors and prime locations within the emirate. Over the years, Deyaar has delivered an extensive portfolio of commercial and residential properties, all offering the highest levels of service and quality.

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About Deyaar

Deyaar Development PJSC is a leading real-estate developer and real-estate services company, headquartered in Dubai. Since its establishment in 2002, the company has registered exponential growth to become an industry leader in the region, with a share capital of AED5.78 billion.

Deyaar is well-positioned to play a pivotal role in the development of the region's property landscape. The company’s in-depth market intelligence, world-class services and unrivalled property management support for communities across diverse portfolios have firmly consolidated its pioneering status in the region’s real estate landscape.

Combining excellence with a vision to create natural living environments while placing customers at the core of its strategies, Deyaar serves as a one-stop real estate solutions provider. Under this profile, its scope includes the delivery of end-to-end property development and property management services across the UAE.

Deyaar provides facility management services for its portfolio of commercial and residential units. The company spearheads an association management team to ensure the wellbeing of Deyaar’s homeowners as a key priority. Deyaar complies with the escrow legislation and relevant property laws in the UAE, and it is registered with the Real Estate Regulatory Authority under reference number 15/07.

For further information, please contact:

Feda Kassem Ala Hassan ASDA’A BCW Deyaar Development PJSC Dubai – UAE Dubai – UAE +971 4 450 7600 +971 4 3840950 - feda.kassem@bcw global.com alah@deyaar.ae