Deyaar Development PJSC, a prominent real estate developer and service provider, has unveiled exceptional financial results with a staggering 206% increase in its yearly net profit, soaring to Dh440.7 million. This significant growth reflects the company’s strategic initiatives and successful endeavors in the real estate sector.

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In 2023, Deyaar’s total revenue witnessed a robust 56% surge, reaching Dh1.26 billion compared to Dh803.4 million in the previous year. The notable increase in net profit, up from Dh144.2 million in 2022 to Dh440.7 million in 2023, highlights the company’s unwavering commitment to excellence.

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A major contributor to this financial success is the Dh412 million rise in property development revenue from property sales. This surge is attributed to accelerated construction progress and remarkable sales achievements throughout 2023. Moreover, Deyaar reported a 15% increase in revenue from other businesses, underscoring its diversified and resilient business model.

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Saeed Mohammed Al Qatami, CEO of Deyaar Development, expressed his satisfaction, stating, “The year 2023 was remarkable for Deyaar, marked by the launch of diverse projects in key locations. Mar Casa, our luxurious seafront residential project at Dubai Maritime City valued at Dh1.1 billion, was a standout success, selling out in record time after its March 2023 launch.”

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Al Qatami emphasized the company’s commitment to maintaining project timelines and announced exciting prospects for 2024, including the launch of Rosalia Residences, the third project at Al Furjan. He added, “Moving forward, we will further enhance our commitment to excellence, dedicate ourselves to delivering outstanding results, drive innovation to enhance stakeholder value, and capitalize on strategic growth opportunities within the dynamic real estate sector of the UAE.”

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As Deyaar continues to set new benchmarks in the real estate landscape, the year 2024 holds promising prospects for further growth and success.

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