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FINANCIAL NEWS
Deyaar sells land, property at USD9m
29 Mar 2011
(MENAFN) Deyaar Development stated that under its plan to shift from development business towards land lording, the company sold so far a total of USD9 million worth of property and land, reported The National.
The company stated that Deyaar signed an agreement for selling property worth USD362 million, and another one for selling land stakes worth USD245 million.
Deyaar did not disclose the buyers.
It is worth noting that Deyaar had previously announced losses at USD626 million in 2010 after a write-down of the value of its assets.
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