Deyaar Earns Net Profits of AED87.1 Million in First Nine Months of 2013

Dubai-UAE: 28 October, 2013 - Deyaar Development PJSC (Deyaar), a customer-focused, trusted and valued developer with in-depth market intelligence and property management expertise, today announced it has achieved net profits of AED40.5 million in Q3 of 2013, up from AED5.1 million registered during the same period in 2012.

The company has also registered total net profit of AED87.1 million for the first nine months of 2013, registering a growth of 162 per cent in comparison to AED33.2 million achieved over the same period in 2012. The net operating profits have also increased from AED72.9 million in the first nine months of 2012 to AED181.6 million for the same period in 2013, marking a growth of 149 per cent. Deyaar's shareholder equity, meanwhile, stands at AED4 billion with total assets valued at AED6.3 billion.

Saeed Al Qatami, Chief Executive Officer, Deyaar, said: “The real estate segment has been registering ongoing growth through each quarter this year. This sound financial performance is a testimony to the industry's underlying resilience. The new visionary announcements made by the Government of Dubai for the real estate sector, as well as Deyaar's business strategy and sales growth have positively impacted the company's bottom line and resulted in the continued trust of our shareholders.”

Deyaar is well-positioned to play a pivotal role in the development of the region's property landscape. Its in-depth market intelligence, world-class services and unrivalled property management support for communities across diverse portfolios have firmly consolidated the company's pioneering status in the region's real estate landscape.