Deyaar Development, a leading property developer in the UAE, has reported revenues of Dh483.3 million ($131 million) for the first nine months of 2019, up 3.6 per cent compared to Dh466 million ($127 million) for the same period last year.
The Dubai developer's net profit for the nine months ended September 30 stood at Dh53 million.
Commenting on the results, CEO Saeed Al Qatami said: "This year has seen Deyaar’s hospitality portfolio well and truly established, with the opening of the Millennium Atria Business Bay and Millennium Al Barsha."
"These three premium projects will deliver future recurring income," he stated.
Al Qatami said the Afnan District, whch is part of Deyaar's first integrated urban community, Midtown, has been completed.
"While Afnan District is getting ready for handover, the second of Midtown’s six districts, Dania with 579 apartments, is expected to be completed by the end of 2019," he noted.
"This will mark a momentous occasion as we prepare to welcome residents into this outstanding family-friendly development," he added.-TradeArabia News Service
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