Deyaar announces its reviewed interim unaudited financial results for the third quarter of 2022

Deyaar announces its reviewed interim unaudited financial results for the third quarter of 2022

- Deyaar’s Board of Directors recommended approving the AED 500 million cash settlement offer provided by Limitless and hold a General Assembly Meeting to present the settlement to the company's shareholders

Dubai-UAE – Deyaar Development PJSC (“Deyaar”), one of Dubai’s leading property developers and real estate service providers, today announced its reviewed interim unaudited financial results for the first nine months of 2022, ending 30 September 2022.

The company reported net profit of AED 36.3 million for the third quarter of the year compared to AED 8.1 million in the same quarter last year. The company also recorded revenues of AED 207.7 million for the third quarter compared to AED 120.7 million for the same period in 2021.

For the first nine months of 2022, Deyaar’s net profit amounted to AED 103.2 million compared to AED 30.8 million in the same period last year. The company also recorded an increase in revenues during the nine months period ended 30 September 2022, to reach AED 577.2 million, compared to AED 418.2 million for the same period in 2021.

Saeed Al Qatami, CEO of Deyaar said: “Deyaar continues to demonstrate a strong financial performance in 2022 as a result of its high value real estate services