Dubai’s Deyaar Development has revealed its net profit for the first half (H1) 2016 reached AED 111 million, maintained by 16% of increased revenues, Arabian Business reported.
Deyaar’s major projects, including Mont Rose and The Atrica, posted a total of AED 79 million, in H1 of 2016. Expenses for the same period have also dropped to AED 63 million.
“Deyaar’s steady performance in the first half of 2016 is reflected in higher revenues and a healthy net profit of AED 111 million,” said Deyaar CEO Saeed Al Qatami, according to Construction Week Online.
“Our focus in 2016 has been to continue to implement measures to strengthen the business and improve efficiencies, while delivering the high-quality real estate which has made Deyaar a leader in the industry,” he added .
Deyaar had a busy three years working on many projects, such as the Midtown development project, including 27 buildings with plenty of accordingly modified residential and commercial spaces.