Dubai, UAE: In a major milestone, the Board of Directors of Deyaar Development PJSC ("Deyaar"), one of the leading real estate developers and service providers in Dubai, the United Arab Emirates (UAE), has announced the approval of dividend distribution for the first time in the company's history.

This landmark decision marks a significant chapter for Deyaar and its shareholders while underscoring its commitment to delivering long-term value to the company's shareholders.

Commenting on the historic decision, Mr. Abdullah Al Hamli – Chairman of the Deyaar Board of Directors, said: " We are delighted to announce our decision to distribute dividends to our valued shareholders. The Board recommended distributing a 4% of the share capital as dividend (AED 175 million, equivalent to 4 fils per share) to shareholders, and present the recommendation to the General Assembly for approval. This marks a significant achievement for Deyaar and reflects our steady growth trajectory. In recent years, Deyaar has undergone a remarkable transformation, resetting in 2022 and reaping the rewards in 2023. With a strong business model and strategic initiatives in place, Deyaar is now well-positioned to embark on a new chapter of growth. Looking ahead, I am confident that this momentous milestone paves the way for continued success. I extend my heartfelt gratitude to our shareholders for their trust and support, and I congratulate all stakeholders and the entire Deyaar team for their dedication and resilience, exemplifying the power of strategic vision."

The company's Annual General Assembly Meeting is proposed to take place on 5th April next month.

Listed on the Dubai Financial Market and majority-owned by Dubai Islamic Bank (DIB), Deyaar is one of Dubai's leading developers, with real estate ventures spanning key growth corridors and prime locations within the emirate. Over the past two decades, Deyaar has delivered an extensive portfolio of commercial and residential properties, all offering the highest levels of service and quality.


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 AED 4.38 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.

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