Deyaar net profit doubles to Dh18.6m

Deyaar Development PJSC, a regional real estate company, announced net profit for Q2 doubled to reach AED Dh 18.6 million as against Dh9.4 million for Q1 2012. ?During the same period, Deyaar’s gross revenues reached Dh 143 million. Deyaar’s total shareholders’ equity stood at Dh 3.9 billion while total assets reached Dh 6.7 billion. Deyaar delivered two projects in Q2 and is poised to complete two more projects during the rest of this year taking the total of projects completed this year to four. “On behalf of Deyaar, I am very pleased to share our financial results for Q2, which are in line with our expectations and reflective of our sound fundamentals,” said Saeed Al Qatami, Chief Executive Officer of Deyaar.“Safeguarding the interests of our customers and maximising value for our shareholders, remain at the heart of our business strategy, to which we remain fully committed. Accordingly, we look forward to delivering another two projects over the course of this year.” From : Gulfnews