Dubai Shares Shown Subdued Performance

Dubai Shares Shown Subdued Performance Dubai's benchmark stock index on Monday declined amid subdued investor's sentiments owing to global uncertainties and pending decision on Greece's debt vows. Shares of Dubai Islamic Bank PJSC and Deyaar Development PJSC declined for the first day.

Deyaar to have $327 million worth of projects in Q1, 2011

DeyaarDeyaar, the Dubai-based construction company has announced that in the first quarter of next year it is going to hand over many projects. The total worth of all the projects combined is going to be AED1.2 billion $ 327 million.

Deyaar Q3 net profit plunges by 74%

Dubai developer Deyaar has clocked a huge dip in its third-quarter net profit.

The company has reported 74% decline in its net profit which stood at Dh81.6 million in the period ended September 30.

The Emirate’s second-major developer by market value has informed that its revenue stood at Dh450 million whereas total assets stood at Dh11billion. 
The sources informed that Deyaar intends to twofold the size of its property portfolio over the upcoming five years.

Deyaar reports second quarter net profit of Dh75.40 million

Deyaar, UAE based leading property developer, has revealed that it has clocked 38% growth in its second quarter net profit which stood at Dh75.4 million.

During the first three month period, Deyaar's net profit figure stood at Dh54.48 million.

The sources informed that the company has posted gross revenues of Dh402 million for the second quarter.

In the fourth quarter of 2008, the company has registered a net profit of Dh343 million.

Deyaar’s Chairman Al Shaikh steps down from his post

Just weeks after being replaced as head of Dubai's finance department, Nasser Al Shaikh, chairman of Deyaar Development has resigned from his position.

The resignation was submitted by Al Shaikh at the end of last week. However, he remains the chairman until it is officially approved by the board of directors.

Till now, the reason for Al Shaikh's sudden resignation is not clear; however it was confirmed by Deyaar that the board will convene shortly to consider its ratification of the same.

Dubai’s Deeyar mulls to expand in 5 countries

With the aim to tap into cheap valuations stemming from the global financial crisis, Dubai property developer Deyaar is mulling to expand into five countries.

The latest development was confirmed by the company's chief executive Markus Giebel in an interview, where he expressed that he predicted the market to hit the bottom in a year's time.

He told that presently, they have been negotiating in five different countries and they are hopeful that they would soon announce the first one or two deals in the next couple of months.