Deyaar
 | |
| DEYAAR | |
| Company type | Corporation |
| Industry | Real Estate |
| Founded | January 2001 |
| Headquarters | , |
Key people |
|
| Owner | Dubai Islamic Bank[1] |
| Website | Deyaar |
Deyaar is a UAE-based real estate development and services company. The company develops and sells residential and commercial properties and is majority owned by Dubai Islamic Bank.
History
[edit]At inception, Deyaar started as the property management unit of Dubai Islamic Bank. Deyaar was later established as a private shareholding company on January 6, 2001, with a paid up capital of AED 18.38 million, and commenced operations on June 1, 2003.
In May 2007, Deyaar became a public joint-stock company and was listed on the Dubai Financial Market.[2][3]
In 2019, a UAE court ordered Dubai-based developer Limitless to pay Deyaar AED 411.9 million in a land dispute, AED 61.1 million in fees and compensation.[4][5] In October 2022, Deyaar's board of directors approved an AED 500 million cash settlement made by Limitless.[6][7]
Projects Deyaar worked on include the Dh1bn Regalia tower in Business Bay, the Bella Rose development project in Dubai Science Park, and Tria residential tower in Dubai Silicon Oasis.[8][9]
References
[edit]- ^ Rahman, Fareed (2022-07-28). "Deyaar's second-quarter profit surges on higher revenue". The National. Retrieved 2023-01-08.
- ^ Release, Press. "Deyaar promises a world-class retail experience at its award-winning development". www.zawya.com. Retrieved 2023-01-08.
- ^ Rahman, Fareed (2022-10-20). "Dubai developer Deyaar reports fourfold jump in third-quarter profit to $9.89m". The National. Retrieved 2023-01-08.
- ^ Rahman, Fareed (2019-12-26). "Deyaar wins Dh411 million claim in land dispute with Dubai developer". The National. Retrieved 2023-01-08.
- ^ Rahman, Fareed (2021-06-06). "Deyaar board approves Dh500m settlement offer from Limitless". The National. Retrieved 2023-01-08.
- ^ "DEYAAR_BODRES_19_10_2022.pdf" (PDF). Dubai Financial Market, PJSC.
- ^ Rahman, Fareed (2022-10-20). "Dubai developer Deyaar reports fourfold jump in third-quarter profit to $9.89m". The National. Retrieved 2023-01-08.
- ^ Rahman, Fareed (2021-11-11). "Cityscape 2021: Deyaar plans to start several projects next year amid higher demand". The National. Retrieved 2023-01-08.
- ^ "Dubai developer Deyaar scores 196% gain in H1-2022 net profit". gulfnews.com. Retrieved 2023-01-08.