Deyaar Development PJSC (“Deyaar”), a leading real estate developer in the UAE, has announced its preliminary unaudited financial results for the year ending 31 December 2024, showcasing robust growth across key financial metrics.
Key Financial Highlights for 2024
- Net Profit Before Corporate Tax: AED 505.4 million, a 14.68% increase from AED 440.7 million in 2023.
- Revenue: AED 1,512.8 million, reflecting a 20.61% year-on-year (YOY) growth from AED 1,254.3 million in 2023.
- Earnings Per Share (EPS): Increased by 7.55%, reaching 10.83 fils compared to 10.07 fils in 2023.
- Property Development Revenue: Surged by 25.6%, hitting AED 1,193.9 million in 2024, up from AED 950.1 million in 2023.
- Other Business Revenue: Grew by 5%, contributing to overall growth.
- Total Assets: Expanded by 5.8% compared to 2023.
Strategic Expansion and Key Projects
Deyaar’s success in 2024 is attributed to strategic expansion efforts and the launch of high-demand projects across the UAE.
- Expansion into Abu Dhabi: The launch of RIVAGE, in collaboration with Arady Properties, marks Deyaar’s entry into Abu Dhabi, aligning with the UAE’s broader vision for economic and urban growth.
- New Projects in Dubai: Significant launches such as ELEVE, Rosalia Residences, and Park Five highlight the company’s commitment to delivering value while incorporating sustainability and wellness into its developments.
Saeed Mohammed Al Qatami, CEO of Deyaar, emphasized the company’s focus on innovation and strategic growth:
“As we conclude a year of strong financial performance, Deyaar reinforces its position as a key player in the UAE’s real estate market. By expanding across the Emirates and launching strategically located projects, we are delivering vibrant, future-ready communities that align with our vision for excellence in urban living.”
Commitment to Innovation and Sustainability
Deyaar continues to accelerate project timelines and enhance construction capabilities to meet stakeholder expectations. Its developments reflect a dedication to sustainability and creating communities that enhance urban living experiences.
A Leader in the UAE’s Real Estate Market
Listed on the Dubai Financial Market and majority-owned by Dubai Islamic Bank (DIB), Deyaar has built a reputation as one of Dubai’s leading developers. Over the past two decades, the company has delivered a diverse portfolio of residential and commercial properties in prime locations, combining quality with world-class service.
Looking Ahead
Deyaar’s financial growth and strategic expansion in 2024 position the company as a vital contributor to the UAE’s real estate sector. With a focus on innovation, sustainability, and customer-centric developments, Deyaar aims to shape the future of urban living while supporting the UAE’s economic and urban development goals.
News Source: Gambit Communications
