Press Release
Deyaar delivers profit of AED 237.5 million for YTD
Sep’2023, up 130% YOY.
Dubai, UAE – 14 November 2023: Deyaar Development PJSC ("Deyaar"), one of the leading
real estate developers and service providers in Dubai, the United Arab Emirates (UAE), has
reported a significant increase in its profits for the first nine months of 2023, compared to the
corresponding period in the previous year. The significant growth is underpinned by robust
property sales and growth in the performance of recurring revenue businesses.
Key Financial Highlights:
• Profit for the period of AED 237.5 million (AED 103.3 million for the same period in
2022).
• Revenue for the period of AED 939.8 million (AED 577.2 million for the same period in
2022).
• Deyaar’s profit for Q3 2023 surged 227% to AED 119.02 million year-on-year. Revenue
for Q3 2023 increased 50% to AED 310.9 million from AED 207.7 million in Q3 2022.
Saeed Al Qatami, CEO of Deyaar, said: " In the wake of our positive H1 financials, our success
story continues in Q3, propelled by the triumphs of our recent projects and the amplified
momentum in our project launches. Today’s financial results stand as a testament to our
strategic vision. Our remarkable increase in revenues is primarily attributed to the substantial
growth in property Development revenue amounting to AED 334.6 million. This achievement
is fuelled by the recognition of revenue from Tria and Mesk, coupled with accelerated
construction progress in Regalia. Furthermore, the complete portfolio sale of Noor and Mesk
has significantly bolstered our financial standing. Now, as we are closing the nine-month
chapter of this year, we remain committed to fostering innovation, delivering unparalleled
value to our stakeholders, and seizing strategic growth opportunities within the dynamic real
estate sector. As we move into Q4 2023, we continue our journey toward excellence driven by
our re-imagined development pipeline and designs, with launches to be announced in the
coming months.”
Other Achievements:
Deyaar remains committed to delivering outstanding real estate solutions, shaping the skyline
of Dubai, and exceeding customer expectation. The main works at Tria, Deyaar’s luxury
residential tower in Dubai Silicon Oasis, are progressing steadily as planned, showcasing the
company’s commitment to delivering exceptional quality within schedule.At Regalia in Business Bay, a pivotal project for Deyaar, approximately 50% of the tower floor
slabs have been successfully casted, marking a significant step towards completion. This
achievement underscores our dedication to timely and efficient project execution.
Deyaar’s dynamic outlook is backed by a solid track record of delivering high-quality projects
and fostering enduring relationships with customers and stakeholders. The strong financials
come on the heels of several global and regional accolades, solidifying Deyaar’s position as a
distinguished player in the real estate sector. These include Mar Casa, its first seafront luxury
residential tower, which won the 2023 Luxury Lifestyle Awards, as well as two 5-star awards
and four major award categories at the prestigious Arabian Property Awards 2023.
Listed on the Dubai Financial Market and majority-owned by Dubai Islamic Bank (DIB), Deyaar
is one of Dubai's leading developers, with real estate ventures spanning key growth corridors
and prime locations within the emirate. Over the past two decades, Deyaar has delivered an
extensive portfolio of commercial and residential properties, all offering the highest levels of
service and quality.
-ENDS-

Sentiment: positive