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Deyaar revenue at Dh314M

Dubai - Developer 'confident about ability to further expand Deyaar's portfolio and continue to see positive results'

Deyaar Development on Sunday said it's 2018 first-half revenue fell by 0.7 per cent to Dh314 million from Dh316 million in the same period last year.
In a statement, one of Dubai's leading property developers and real estate service providers said the company's profit during January-June 2018 period dropped by 2.6 per cent from Dh67 million to Dh65.2 million in the corresponding last year period.
Saeed Al Qatami, chief executive officer of Deyaar, said the financial performance for the second quarter, and first six months of the year, is a reflection of the robust business model that "we operate and is driven by our clear strategy" for growth.
"As we are making significant progress on The Atria, Midtown, and Millennium Deyaar Hotel & Apartments in Al Barsha, we are confident about our ability to further expand Deyaar's portfolio and continue to see positive results, cementing our status as a leader in the sector," he said.
Earlier this month, Deyaar has commenced the handover process for The Atria, its second project in 2018. The mixed-use project is located in Business Bay and comprises a four-star hotel apartment tower and a residential tower. Deyaar began 2018 with a strong start, with the handover for the two residential towers in its iconic Mont Rose project.
- business@khaleejtimes.com