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Deyaar Development Company   (DEYAAR.DFM)
Also known as: Deyaar, Deyaar Properties
Sector | Industry
Real Estate | Landlords and Developers
 
Country of Origin
United Arab Emirates
Last Trade
0.53 AED
- 5.36%
 
 
 
 
 
 
 
 
 
 
 
 
 
Company Updated: Mar 27, 2008
 
UAE
Joint Stock
 
 
Shariah compliant real estate investment, development and management; leasing and brokerage services; air conditioning , plumbing and electrical contracting and maintenance.
Global Real Estate Development Company until November 2004
2002 (January)
200
UAE (5)
 
 
 
 
DEYAAR 
Ordinary 
AED 
 
 Key Officers
Markus Alexander Giebel
Chief Executive Officer
 
 Contact Details
Address:
Monac Office Tower
22nd Floor
Sheikh Zayed Road
P.O. Box 30833
Dubai
United Arab Emirates
 
+971 4-295-5844
 
+971 4-295-4029
 
info@deyaar.ae
 
www.deyaar.ae
 
www.omegauae.com

 
  Latest Headline
Long-term view can beat short-term crisis  - Emirates Business 24/7
 
  IPO Details
Listing Date:
05Sep07
Size of Offering:
$882.59M
Equity Offering:
55%
Lead
Managers:
Millennium Finance Corporation, SHUAA Capital
 

  Business Overview
Deyaar Development provides a full range of property development, management, leasing and brokerage services for residential and commercial properties, all of which are according to Sharia principles. It was established in the UAE in 2001 as a subsidiary of Dubai Islamic bankDubai Islamic bankLoading.... Initially called Global Real Estate Development Company, the company was re-branded in 2004 as Deyaar Development.

Deyaar is one of the region's largest property management companies. By the end of 2006, it had a total land bank of over AED3 billion (USD817 million) of which AED2.3 billion (USD626 million) are in the UAE. The company has 16,000 units on hand, over 700 buildings and AED11 billion (USD3 billion) in assets under management.

Deyaar has real estate properties in Dubai located in the Dubai Marina, Jumeirah Lake Towers, Business Bay, and TECOM. It also has the Dana towers in Sharjah.

Deyaar's first international activities were in Lebanon, where it entered through Nacim Baabdet, Solidere Saifi Village 2 and Block 18 project.

Deyaar expanded its scope of activities into facilities management by acquiring the UAE-based Omega Engineering in January 2006, a company specializing in air-conditioning, plumbing, electrical contracting and maintenance.

Deyaar announced plans to expand its real estate portfolio by entering international markets. It has identified Saudi Arabia as a key market for investment. India, Qatar and Kazakhstan also have been identified as potential markets. The company has almost completed the development of a villa community, The Gurpinar Villas, in Turkey.

Deyaar experienced rapid growth in profitability as it increased its net profits from AED5 million (USD1.4 million) in 2003 to AED412 million (USD112 million) in 2006. The company underwent an IPO in May 2007 and offered 55% of the company's equity, representing AED3.2 billion (USD871 million), to GCC and UAE nationals only.
 
 
 Major Shareholders
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  Organization Structure and Related Entities
Subsidiaries/Associates/Affiliates
 
Name  Country  Holding
Al Tanmya Services UAE 100.00%
Beirut Bay Lebanon 100.00%
DIB Tower Lebanon 100.00%
Deyaar Cayman Cayman Islands 100.00%
Deyaar Development Corporation United States 100.00%
Deyaar Mauritius Mauritius 100.00%
Deyaar United Kingdom United Kingdom 100.00%
Deyaar West Asia Cooperative Netherlands 100.00%
Deyaar for Development Lebanon 100.00%
Nationwide Realtors UAE 100.00%
Town Tower Lebanon 100.00%
Omega Engineering UAE 55.00%
Alarko Deyaar Gayrimenkul Turkey 50.00%
Arady Development UAE 50.00%
Dubai International Development Company UAE 50.00%
Saudi Deyaar Real Estate Development Company Saudi Arabia 40.00%
Developments and Projects
 
Name  Country  Holding
51 [in Business Bay] UAE -
Al Dana Tower UAE -
Al Seef Tower 2 [in Jumeirah Lake Towers] UAE -
Al Seef Tower 3 [in Jumeirah Lake Towers] UAE -
Block 18 Project Lebanon -
Bristol Executive [in Business Bay] UAE -
Churchill Executive [in Business Bay] UAE -
Churchill Towers [in Business Bay] UAE -
Clyton Residences [in Business Bay] UAE -
Deyaar Enclave [in International Media Production Zone] UAE -
Deyaar Park [in Downtown Jebel Ali] UAE -
Deyaar Square UAE -
Deyaar Tower UAE -
Fairview Residences [in Business Bay] UAE -
Hamilton Residency [in Business Bay] UAE -
Hor Al Anz Development UAE -
Khan Shatyry Residences Kazakhstan -
Madison Residency [in TECOM Free Zone] UAE -
Matal Al Qamar Lebanon -
Mayfair Residency [in Business Bay] UAE -
Mayfair Tower [in Business Bay] UAE -
Michael Schumacher Tower [in Reem Island] UAE -
Nacim Baabdet Lebanon -
Oxford Tower [in Business Bay] UAE -
Saifi Village II Lebanon -
Sapphire Residence [in Dubai Silicon Oasis] UAE -
The Burlington Tower [in Business Bay] UAE -
The Citadel [in Business Bay] UAE -
The Gurpinar Villas Turkey -
The Metropolis Tower [in Business Bay] UAE -
Windsor Manor [in Business Bay] UAE -
 
 
  Representatives
Auditors
 
Ernst and Young
 
Banks
 
Dubai Islamic Bank
 
Law Firms
 
Al Tamimi and Company Legal Advocates
 
 
 
 Summary Financials
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 Available to subscribers only. Information in this section includes key financials data such as Total Revenues, Net Profits, Totals Assets, Shareholder Equity, etc. » More Details
 
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