Deyaar Development PJSC (Deyaar), one of Dubai’s leading property developers and real estate service providers, has announced its financial results for the year ended 31 December 2019. The company reported revenues of AED 603.7 million, compared to AED 643.7 million in the same period of 2018. Net pro t for 2019 was reported as AED 71.5 million.
Saeed Al Qatami, CEO of Deyaar said: “2019 saw several strong achievements in our portfolio – not least of which is the completion and handover of Afnan, the first district in our Midtown master development, with handover of Dania district currently in progress. We also began the operation of our three hospitality projects with a total of 1000 keys.
In 2020, we are planning to move forward with the development of Midtown project and launch new districts with the handover of Bella Rose project by the end of the year.”
Deyaar’s first master development, Midtown comprises six districts, composed of 26 buildings across a built-up area of almost five million square feet. Afnan and Dania districts are now completed, with new districts to be announced in 2020. The development offers over 2,000 units, ranging from studios through to three-bedroom apartments. Located in Dubai Production City near Sheikh Mohammed bin Zayed Road, Midtown is designed with community living in mind, creating a family-friendly environment complete with a wide range of amenities and entertainment options. There is more than 30,000 2 of retail area between Midtown’s Dania and Afnan Districts.