Dubai, Sept., 5th, 2007 (WAM)--The Dubai FinancialMarket (DFM) has announced the listing of Deyaar DevelopmentPJSC, incorporated in Dubai.

The listing of ordinary shares of Deyaar Development PJSC wasfinalised and approved by the DFM in collaboration with the EmiratesSecurities and Commodities Authority.

Ownership of the company's shares is available to UAE nationalsup to 100 per cent, while only GCC nationals are allowed to owncompany shares at a maximum of 49 per cent.

Mohammed Khalfan Bin Kharbash, Chairman of Deyaar and UAE Ministerof State for Finance and Industry, attended the listing ceremony.

Hassan Al Sirkal, Director of Operations, DFM, Rashid Al Shamsi,Deputy Chairman of Dubai Financial Market, Zack Shahin, CEO,Deyaar, and Saeed Qatami, Managing Director, UAE Business, Deyaar,were also present during the listing ceremony.

The company's authorised capital and paid up capital is AED 5.778billion. It has issued 5.778 billion shares, with eachshare valued at a par value of AED 1.

Essa Kazim, Chairman of DFM, said: 'Deyaar Development PJSC isthe 53rd to list its shares on the DFM and the 10th within the'Real estate and Construction' sector. We welcome them to ourbourse, and look forward to a prosperous future together. Thelisting of Deyaar comes in line with DFM's strategy to offerdiversified options that meet demands of investors.

He added that the listing also enhances DFM's role in attractinginvestments through the listing of local and regional companieson the DFM.'Mohammed Khalfan Bin Kharbash, Chairman of Deyaar and UAE Ministerof State for Finance and Industry, said, 'The listing marks amilestone in Deyaar's aggressive growth as it coincides withmajor expansion plans that are underway. With the unfolding ofnew projects in its geographical spread and portfolio, Deyaaris now ideally positioned to move onto the next phase of itsambitious plans.' Zack Shahin, CEO, Deyaar, said, 'This is indeed a landkmark momentfor Deyaar. As a company with strong fundamentals and financialsolidity, we are committed to making the company a 'most favoured'stock for the investor community. Our portfolio is on a continuousexpansion mode with new initiatives in key markets. Our internationalexpansion is also fast taking shape. We are extremely glad tobe listed on DFM, one of the preeminent stock exchanges in theregion.' Deyaar's IPO, which opened last May, had attracted immense investorinterest, resulting in oversubscription 14 times. The total sizeof the offering was AED 3.178 billion allocated over 3.178 billionshares, representing 55% of the company's capital.

The company's total revenue reached AED 1.057 billion by endof 2006, while total assets reached AED 3.034 billion by endof 2006.