Developer of real estate Deyaar Development announced a profit rise of 77% in the first half of 2023, from Dh66.9 million to Dh118.5 million.
The developer ascribed the record numbers to faster completion of the Regalia project at Business Bay and the handover of the Noor and Mesk districts in Dubai Production City.
When compared to H1-202, Deyaar’s income increased 70% to Dh628.9 million from Dh369.4 million.
“The positive H1 2023 financial results were achieved due to strong performance executed by all business segments of the company, especially the property development business, which was the dominant revenue contributor,” said Saeed Al Qatami, CEO of Deyaar. Following our positive. “Q1 financials, the results were driven by several factors, including the success of recent projects and the increased frequency of the company’s project launches.”