Dubai: Investors have the motivation to cheer as Deyaar Development registered a fairly healthy increase in first-quarter 2021 net benefits to Dh15.1 million from Dh2.6 million per year prior. This is the first financials detailed by a UAE developer, and expectations are that most of the other listed companies too would have upbeat results to show.
On the income side as well, there were gains for Deyaar, totaling Dh149.2 million contrasted with Dh98.8 million for a year ago. More prepared properties in its portfolio will have made a difference.
Saeed Al Qatami, the CEO, said: “We were able to achieve our results due to our continuous efforts and commitment to deliver our projects on time. We have a portfolio of ready and off-plan residential units which witness high demand.”
Early this year, Deyaar reported the handover of the Bella Rose project in Dubai Science Park, including 478 residential units and 12 retail spaces. The development work of the third and fourth phases of the coordinated residential project Midtown is continuous, as per the arrangement which will add 11 more buildings to the project.