Deyaar Posts Dh447.1 Million In Revenue Despite Downturn In Hospitality

(MENAFN- Khaleej Times) Property developer Deyaar's revenue grew by 3.2 per cent during this year's first quarter despite a downturn in the hospitality sector. Its revenue increased to Dh447.1 million, from Dh433.4 million the previous year.

While the hospitality sector decreased due to the regional war, Deyaar's performance property and facility management counteracted it.

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Profit before tax climbed 23.3 per cent to Dh147.7 million in March 2026 compared to Dh119.8 million the previous year. Total assets rose by 12.1 per cent, amounting to Dh8,151.5 million as of March 31, 2026 compared to 7,269,2 million as of the same period last year.

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The Dubai-based company handed over 1,425 units across three major projects in Dubai, including the luxury residential tower Regalia in Business Bay, the final district of Jannat in Midtown, and Talia Residences in Al Furjan.

The strong performance mirrors the UAE's strength, which entered this period of global tension from a position of strength, backed by strong fiscal buffers, supply chain flexibility, and healthy consumer demand, said the CEO of Deyaar, Saeed Mohammed Al Qatami.

“The fundamentals of Dubai's real estate market remain robust, supported by high demand and favourable economic conditions, allowing us to effectively capitalize on emerging opportunities. We are also dedicated to sustaining profitability while strategically launching select projects that address our customers' evolving requirements,” he added.

The recent handover milestone, well over 1,400 units, was a key driver in showcasing Deyaar's operation efficiency and dedication to delivering quality project, Al Qatami said.

According to real estate agency Betterhomes, Dubai's property sales saw a 23 per cent dip in transactions, while off-plan transactions dominated the market at 76 per cent in April. Developers in the emirate told Khaleej Times that while the market saw a slowdown during the war, it remains health.

Property Finder said that the market is seeing consistent patterns in transaction values for the oncoming months, with May typically outperforming April by 10 to 30 per cent.

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