Deyaar Development announced its unaudited financial results for H1 2021

The company received USD 80 million in revenue and USD 6.1 million in net profit during the period.

Deyaar Development, one of Dubai’s leading property developers and real estate service providers, recently has announced its unaudited financial results for the first half of 2021.

The developer said its revenue had increased and reached USD 80 million in the first six months ending 30 June 2021, while in the same period last year it had stood at USD 47 million. An increase in net profit was also witnessed, from USD 2.3 million in the first half of 2020 to USD 6.1 million in the same period this year.

Saeed Al Qatami, CEO of Deyaar, said, 'The company continued its steady performance during the last period to achieve positive results with an increase in both revenue and net profit in the first half of this year. We continue to focus on improving the efficiency of our business and meeting the growing demand for high-quality real estate projects. The company recently launched Regalia project, which will be a unique addition to the luxury real estate sector in Dubai. The project witnessed great demand from customers since the first days of launch. Additionally, the construction work in the new phases of our Midtown project is progressing well.'

In July the company launched a new skyscraper called Regalia and valued at USD 272 million. Luxury apartments in the 70-story tower are all equipped with smart home systems. In addition to that, Regalia's resident will have access to a wide range of recreational and wellness amenities. The project development is expected to be completed in December 2024.

Deyaar Development PJSC was established in 2002, and since then has become one of the leading real-estate developers and real-estate services companies in Dubai. Deyaar's extensive portfolio includes a whole range of commercial, residential and hospitality properties, all offering the highest levels of service and quality.