For the first half of 2021, Deyaar Development (Deyaar), one of Dubai’s leading property developers and real estate services companies, reported a net profit of Dh22.6 million, up from Dh8.5 million for the same period in the previous year.
A company reported that its unaudited first-half results for 2021 showed growth in revenue to reach Dh297.4 million from Dh174.5 million in the prior-year period.
The company has recently introduced its new Regalia project, which is set to be a unique addition to its luxury real estate portfolio in Dubai. Since its launch, the project has experienced great demand from customers. Also, the construction work on the midtown development is going very well.
Saeed Al Qatami, CEO of Deyaar, said: “The company continued its steady performance during the last period to achieve positive results with an increase in both revenue and net profit in the first half of this year. We continue to focus on improving the efficiency of our business and meeting the growing demand for high-quality real estate projects. The company recently launched the Regalia project, which will be a unique addition to the luxury real estate sector in Dubai. The project witnessed great demand from customers since the first days of launch. Additionally, the construction work in the new phases of our Midtown project is progressing well.”
Earlier this month, the company launched a 1 billion AED skyscraper “Regalia” in Business Bay. Luxury smart home apartments with a variety of recreational and wellness amenities are available in this 70-story tower. It is anticipated that the development will be finished by December 2024.