Deyaar Reports AED 505.4 Million Profit Before Tax, a 14.68% Yearly Increase in 2024
Deyaar Development PJSC (Deyaar) has announced strong financial results for 2024. The company’s preliminary unaudited reports show a profit before tax of AED 505.4 million. This marks a 14.68% increase from 2023, driven by higher sales, cost control, and strong market demand.
Steady Growth in Revenue and Profit
Deyaar’s revenue grew by 10%, reaching AED 2.1 billion in 2024, compared to AED 1.9 billion in 2023. The net profit also rose to AED 450 million, a 15% increase from AED 391.3 million in the previous year.
The company’s success came from delivering high-quality projects on time and expanding its property management services. Its strong financial strategy and increasing investor confidence also played a key role in boosting profits.
Factors Behind the Growth
Deyaar’s impressive performance in 2024 was due to several key factors:
- Successful Project Completion – The company completed major projects, including Midtown and the Millennium Deyaar Hotel. These projects attracted high demand and contributed significantly to the company’s revenue.
- Expanding Property Management Services – Deyaar secured more property and facility management contracts, providing a stable income stream. This diversification helped reduce risks associated with real estate development.
- Smart Land Acquisitions – The company invested in premium land locations across Dubai, preparing for future projects. These investments are expected to drive growth in the coming years.
CEO’s Perspective on Growth
Deyaar’s CEO, Saeed Al Qatami, expressed confidence in the company’s growth strategy. He said, “Our 2024 results reflect the hard work of our team and our commitment to delivering high-quality projects. We continue to focus on market opportunities, innovation, and increasing value for our shareholders.”
Dubai’s Real Estate Market Shows Positive Trends
Dubai’s real estate market remained strong in 2024, with rising demand for residential and commercial properties. Investor confidence increased, and Deyaar capitalized on the market’s positive momentum. The company’s strong financial position and well-planned projects helped it gain a competitive edge.
Deyaar Future Plans and Expansion
Deyaar has ambitious plans for the future. The company aims to:
- Launch new residential and commercial projects in prime Dubai locations.
- Expand its property and facilities management services to reach more clients.
- Invest in smart and sustainable building technologies to meet modern market demands.
About Deyaar
Deyaar is a leading real estate developer in Dubai, known for high-quality residential, commercial, and hospitality projects. Since its establishment in 2002, the company has played a key role in shaping Dubai’s property market.
Note: These financial figures are based on preliminary unaudited reports and may change after the final audit.
Also Read:
Business Ideas for the Next Decade in the Middle East
Dubai Capitals Win ILT20 2025 After Stunning Comeback
