Deyaar Development, the UAE-based developer, announced it has registered a 96% year-on-year rise in revenue for the third quarter of 2017.
The company recorded revenues of $139m for the first nine months of the year as compared to $71m in the same period in 2016. Deyaar credited this rise in profits to increased sales in addition to the progress in the construction of a number of its projects in Dubai.
“Over the past nine months of 2017, Deyaar has made major headway in three of our flagship projects while focusing on expansions within the hospitality segment to further grow our portfolio,” Saeed Al Qatami, CEO of Deyaar, said.
“With the significant progress on our developments, Deyaar is witnessing a new cycle of growth that aligns perfectly with our long-term strategic plan driven by UAE Vision 2021,” Al Qatami added.
It is worth mentioning that Deyaar is currently in the process of developing major projects across Dubai, including The Atria and Mont Rose which are almost completed.