Deyaar Development: MEED Assessment

09 September 2013

Deyaar has the potential to expand further

Much like other Dubai-focused property developers such as Emaar, Nakheel and Damac, Deyaar’s future prospects are largely tied to the recovery of Dubai’s real estate market. As of September 2013, this year has seen the strongest signs of a property recovery since the emirate’s credit crisis hit in 2009.

With the ownership of 1 million square feet of undeveloped land banks in Business Bay, Deyaar has the potential to expand further in a prime real estate area close to the city’s new Downtown Dubai commercial centre. In a sales event in May, Deyaar secured deals worth more than AED172m, which the firm said reaffirms signs of strong recovery trends in the UAE’s real sector and a significant surge in investments from both regional and global entities.

If the real estate sector continues to recover, Deyaar should be able to increase revenue and profits over the coming years to recover from its post-crisis slump. Financial results from the first half of 2013 already display signs of this recovery.

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