Deyaar releases H1 2020 financial results

Net profits of $2.3mln in H1

  
Image used for illustrative purpose. Visitors walk past the stand belonging to real estate developer Deyaar during the Cityscape real estate exhibition in Dubai October 2, 2012.

Image used for illustrative purpose. Visitors walk past the stand belonging to real estate developer Deyaar during the Cityscape real estate exhibition in Dubai October 2, 2012.

REUTERS/Ahmed Jadallah

DUBAI- Deyaar Development, a Dubai-based property developer, announced its financial results for the first half of 2020, reporting revenues of AED174.5 million and net profit of AED8.5 million for the six months ending 30th June 2020.

In its meeting on Wednesday, 12th August, the company’s board approved the financial statement for the first half ending 30th June 2020.

Saeed Al Qatami, CEO of Deyaar, said, "During the last period, the company was keen to ensure the continuity of its business in various sectors while taking all precautionary measures and complying with the decisions issued by government authorities. The company continued the construction work on its existing projects, in addition to providing all property and facilities management services to our clients, as well as handover of units to the new owners in Midtown project."

Al Qatami added, "In Deyaar, we will continue to work on our projects according to schedule under the current situation. The completion rate of Bella Rose project in Al Barsha South has exceeded 75%, and construction for the third phase of Midtown residential project will start soon, which will add seven new buildings to the development."

© Copyright Emirates News Agency (WAM) 2020.

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