Dubai’s Deyaar posts USD15.03m profit in Q1

15 Apr 2015

(MENAFN) Dubai-based Deyaar Development, the leading local and regional real estate developer and real estate services company, posted USD15.03 million profit in the first quarter, Reuters reported.

Deyaar’s profit marks a 6 percent increase when compared to the corresponding period of 2014, in which the firm’s profit stood at USD14.18 million, according to a corporate statement.

It is said that Deyaar suffered greatly from the plunge that the Dubai’s property market witnessed back in 2009 and 2011. According to forecasts, the firm will post quarterly profit of USD6.36 million.

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