deyaar
1 deyaar development - business analysis 1. 1 deyaar development - company overview 1. 2 deyaar development - business description 1. 3 deyaar development - major products and services 2 deyaar development - analysis of key performance indicators 2. 1 deyaar development - five year snapshot: overview of financial and operational performance indicators 2. 2 deyaar development - key financial performance indicators 2. 2. 1 deyaar development - revenue and operating profit 2. 2. 2 deyaar development - asset and liabilities 2. 2. 3 deyaar development - operational efficiency 2. 2. 4 deyaar development - solvency 2. 2. 5 deyaar development - valuation 2. 3 deyaar development - competitive benchmarking 2. 3. 1 deyaar development - market capitalization 2. 3. 2 deyaar development - efficiency 2. 3. 3 deyaar development - turnover – inventory and asset 3 deyaar development - recent developments 4 deyaar development - swot analysis 4. 1 deyaar development - swot analysis - overview 4. 2 deyaar development - strengths 4. 3 deyaar development - weaknesses 4. 4 deyaar development - opportunities 4. 5 deyaar development - threats 5 deyaar development - company statement 6 deyaar development - history 7 deyaar development - key employees 8 deyaar development - key employee biographies 9 deyaar development - locations and subsidiaries 9. 1 deyaar development - head office 9. 2 deyaar development - other locations and subsidiaries 10 appendix 10. 1 methodology 10. 2 ratio definitions 10. 3 disclaimer list of tables table 1: deyaar development - major products and services table 2: deyaar development - key ratios - annual table 3: deyaar development - key ratios - interim table 4: deyaar development - key capital market indicators table 5: deyaar development - history table 6: deyaar development - key employees table 7: deyaar development - key employee biographies table 8: deyaar development - subsidiaries table 9: deyaar development - locations list of figures figure 1: deyaar development - total income and net profit figure 2: deyaar development - financial position figure 3: deyaar development - operational efficiency figure 4: deyaar development - solvency figure 5: deyaar development - valuation figure 6: deyaar development - market capitalization figure 7: deyaar development - efficiency figure 8: deyaar development - turnover – inventory and asset
deyaar has launched the second edition of deyaar al khair, an initiative that provides free maintenance services to underprivileged families across the country .
deyaar owners’ association management, part of deyaar development pjsc (“deyaar”), one of dubai’s leading property developers and real estate service providers, has received the dubai quality appreciation award for the 2017 cycle under the services sector .
through this platform, you can also stay in touch with deyaar owners’ association management. we do hope this secure and private portal helps you enjoy your experience with deyaar properties !
the four were ordered to pay jointly dh28, 556, 535 in fines to deyaar .
examines and identifies key information and issues about
deyaar development
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a meeting of the board of directors of deyaar development, the region' s fastest growing real estate company, was held on saturday to review the resignations of deyaar chairman dr mohammad khalfan bin kharbash .
dubai: a meeting of the board of directors of deyaar development, the region' s fastest growing real estate company, was held on saturday to review the resignations of deyaar chairman dr mohammad khalfan bin kharbash, and sultan bin saeed al mansouri, minister of economy and vice - chairman of deyaar .
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dk, a project evaluation manager at thermo, testified that the company’s executives were directed not to directly deal with deyaar and leave that to as and fl. “the two managers prepared the contracts and sent them to deyaar’s ceo. ”
deyaar has grown exponentially over the past decade to become one of the leading real estate development companies in the region. .
deyaar development, a real estate development company in dubai, has signed a memorandum of understanding (mou) with turkey' s ascioglu group, a developer in istanbul. the mou articulates deyaar' s strategy to expand in the middle east .
nasser al shaikh, the chairman of deyaar development, has submitted his resignation to the company' s board of directors .
welcome to deyaar’s customer portal, a one - stop online gateway to access information on all property and community related services and initiatives .
the board applauded the efforts of dr kharbash and al mansouri during their tenure with deyaar and wished them success in their future endeavours .
the director of the financial audit department also testified that he found cheques issued to deyaar’s ceo besides a number of incriminating international money transfers .
deyaar does not warrant the accuracy, adequacy, or completeness of the information presented herein and expressly disclaims liability for any errors or omissions therein. the information presented herein may include data supplied to deyaar by third parties. such data may be amended or changed at any time by third parties without notice to deyaar. accordingly, no warranties of any kind, express or statutory are given in respect of the information .
as part of the dubai cares adopt a school initiative, deyaar will build a school in the western region of nepal and equip it with furniture and gender specific latrines, with 150 students benefitting from the school. the school will also offer adult literacy programs to 60 women. deyaar will also send a group of employees to volunteer their time and effort in support of the construction of the school. the agreement was signed by saeed al qatami, ceo, deyaar development, and tariq al gurg, chief executive officer of dubai cares, during a signing ceremony held at deyaar’s headquarters today .
only the thermo managers were found guilty of embezzling dh500, 000 and were each fined dh500, 000 and ordered to pay the amount to deyaar .
at deyaar, we understand the challenges many landlords face when managing their properties. that is why we make the process simple. with our online landlord portal, property owners can easily check unit status and cash flow statements by viewing a list of all properties managed by deyaar through one central portal .
the ascioglu group is calling on investors in turkey to make use of deyaar' s local expertise for exploring emerging investment opportunities in and around dubai .
according to the records, the thermo managers were awarded a contract by deyaar in june 2005 for u1 and u2 towers in jumeirah lakes worth dh71 million .
deyaar’s operations are divided across four key business units – property development, property management, facilities management and owners’ association management. through these teams, deyaar aims to maximise investor profits, provide customers with the highest level of service in the industry and deliver real solutions that truly enhance the value of their investments .
the former ceo of property developer deyaar, zs, was on monday sentenced to 15 years in jail after he was found guilty of asking and accepting bribes .
he added that “the transaction will strengthen deyaar’s long term capital position and prove to be a prudent move towards the company’s long term growth and revenue diversification. ”
deyaar is understood to have increased its stake from the previous 55 per cent of omega. “the acquisition, ” said deyaar ceo saeed al qatami in the statement, “is in line with deeyar’s long term strategy of consolidating its investment in construction and facility management services, while further fortifying its engineering capabilities for future projects. ”
deyaar development (deyaar), a customer - focused, trusted and valued developer with in - depth market intelligence and property management expertise, today announced its preliminary q1 unreviewed financial results registering aed 51. 03 million in net profits, and aed 60. 2 million in revenue compared to aed 36. 2 million during same period last year .
dubai - uae: 24 june, 2015 – deyaar development pjsc, a leading real estate development company headquartered in dubai, has signed a memorandum of understanding (mou) with turkey’s aşçıoğlu group, a prime developer known for shaping significant real estate projects in istanbul. the mou articulates deyaar’s strategy to expand its presence in the wider middle east region .
the mou will facilitate ascioglu' s foray into dubai' s hospitality and real estate sectors. it will also enable deyaar to explore new opportunities in turkey in partnership ascioglu .
deyaar development accounted for almost half of the trading volume on the dubai financial market (dfm) yesterday as the property company' s board met to map its future. investors bought and sold more than 103 million deyaar shares during the trading session, pushing the company' s price down by 4. 3 per cent to 33 fils. the stock is down more than 43 per cent for the year to date. deyaar share activity has accounted for more than a third of all trades on the market since tuesday of last week .
the board meeting, in its new structure, also decided to appoint nasser bin hassan al shaikh as chairman of deyaar development and khalid mohammad ali al kamda as vice - chairman .
nasser al shaikh, the chairman of deyaar development, has submitted his resignation to the company' s board of directors, deyaar said in a statement this morning. the move comes just weeks after mr al shaikh was replaced as director general of the dubai department of finance, where he was overseeing the distribution of funds to companies struggling to pay debts and finance operations in the wake of the global financial crisis. government officials gave no reason for his replacement at the time, nor did deyaar executives yesterday after announcing his intention to resign. deyaar said its board of directors would
convene shortly to consider ratification
of his resignation. mr al shaikh is also listed as chairman of amlak finance and vice chairman of the national bonds corporation. bhope @ urltoken
deyaar awarded another contract to the same company in february 2006 for a tower in business bay worth dh76 million and a third contract was for the metropolis tower in the same project worth dh55 million .
we had to make deyaar a brand that people can come and trust. the strategy is interesting, but never forget that the implementation is much more complicated .
@ email: bhope @ urltoken
deyaar’s growth is built on the foundation of uncompromising ethical business practices and a strong corporate governance framework. our values of transparency and reliability guide us in formulating and enforcing the highest standards of corporate governance .
dubai - based deyaar development, a property development firm listed on the dubai financial market (dfm), announced on thursday that it has acquired full ownership of one of its subsidiaries, omega engineering .
signed by deyaar’s ceo saeed mohammed al qatami and aşçıoğlu’s chairman yaşar aşçıoğlu, the partnership mandates the two entities to jointly develop master developments in both turkey and the uae. more specifically, the exclusivity mou will facilitate aşçıoğlu’s engagement in dubai’s hospitality and real estate sectors, while enabling deyaar to explore new opportunities in the republic of turkey in partnership with one of the nation’s pioneering brands in the real estate sector .
another issue that has emerged publicly is deyaar' s connection to a high - end property development, sky gardens. deyaar entered into an agreement - the exact nature of which is being contested by the different parties - in late 2008 to buy a third of the building but is now trying to cancel that agreement and get a refund of the money it has paid so far. the schools company taaleem has filed a lawsuit against deyaar and national bonds - a company that was providing the financing for taaleem' s original purchase of a 33. 3 per cent stake in sky gardens - in the difc courts .
as our valued owner / tenant, we invite you to login to the portal via deyaar’s website to view your automated utility bills and make online payments from the convenience of your home through a secure payment gateway .
in addition to delivering end - to - end property development and property management services and overseeing a wide range of property units across the uae, deyaar today also provides facility management services to commercial and residential units .
established in 2002, deyaar has grown into a diversified company offering a range of services covering real estate development and facilities management. the dubai financial market - listed company recently announced forming a strategic alliance with dubai south for a joint development of a mixed - use project within the residential district. pw caught up with saeed al qatami, ceo, deyaar development, to get up to speed with the company’s development strategy and new projects .
saeed al qatami, ceo of deyaar, said: “deyaar’s strategy to continuously grow and diversify its portfolio of developments and services has helped us avoid impact of any fluctuations in the real estate sector, as a result of the global economic conditions such as dwindling oil prices. the results achieved in the first quarter of this year affirm that our corporate strategy remains sound and strong placing the stakeholders’ value at the top of its priority. ”
deyaar has recently launched dania district, the second phase of its mega midtown development, which includes six residential buildings ranging from g + 7 to g + 16 comprising a total of 579 apartment units in varying sizes .
deyaar also began a series of consolidations. it allowed distressed customers who had bought multiple units to reduce the number of their holdings while increasing their equity in the remaining units. so a buyer who had paid 20 per cent for two floors of a building could change to having paid 40 per cent for one floor. this left the company with unsold inventory, but that was taken care of in large part by deyaar also consolidating its projects, the fourth step of the strategy. deyaar effectively has been cancelling some projects in areas with a low probability of getting infrastructure on time by convincing buyers to shift their purchases into buildings further along in development .
strategic & over - arching role in the management of the company and its till date strategic planning, deyaar subsidiaries. manage investments, assets, efficiency & performance, development pjsc, uae procuring finance, revenues and costs .
deyaar development (deyaar) is a real estate development company. it provides property development, property management, facilities management, leasing and real estate brokerage services. the company owns and manages real estate funds which invest in lands for development, and distressed real estate assets across the middle east and north african region. it also develops and sells residential, commercial and retail properties. the company’s major projects include dubai marina, impz, tecom, jumeirah lake towers, and downtown jebel ali. it has operations in lebanon, the uae, saudi arabia, the netherlands, the us, bahrain and the uk. deyaar is headquartered in al barsha, dubai, the uae .
signed by saeed mohammed al qatami, deyaar' s chief execuive officer (ceo), and yasar ascioglu, chairman of ascioglu, the partnership mandates the two entities to jointly develop master developments in both turkey and the uae .
mr giebel said that this ensured that deyaar could then sell the defaulted unit to the distressed asset fund at a very steep discount because the company gets to keep some or all of the payments from the defaulted buyer. deyaar would prefer to do this because if it sold the unit at a discount to the market, they would be unfairly competing with their own buyers who were listing their property on the resale market, and destabilising prices in dubai as a whole .
we at deyaar believe in collaborating effectively with our partners to meet the fast changing needs of our customers in this dynamic environment. deyaar leverages its strong relationships with some of the most prestigious financial institutions in the uae to exclusively help our customers gain access to the best mortgage solutions. we employ unique resources to help drive business innovation and form a trusted foundation for strategic decision making, increased agility, and long - term competitive advantage both for our customers and partners .
there is no doubt that hospitality will be a major growth driver for the uae and for deyaar, especially with expo 2020. by then, dubai will have 20 million visitors, owing to the government’s tourism plans. dubai tourism expects occupancy rates to stay at around 77 per cent until next year. by the end of 2018, dubai will have 134, 000 hotel rooms. deyaar is helping to meet rising demand for hotel and serviced - apartment accommodation by providing quality facilities across key growth corridors in dubai .
deyaar is led by its chairman, abdulla ali obaid al hamli, who has overall responsibility for the company’s management across all its business units. a widely respected professional, mr. al hamli currently serves as board member and managing director of dubai islamic bank .
our chief executive officer, saeed al qatami, who has served at deyaar since 2007, is a highly experienced real estate and financial services professional, bringing a pioneering approach to real estate management through his exceptional leadership skills and profound knowledge of the global real estate sector .
established in 2002 with a paid up capital of aed 18. 38 million, deyaar has grown exponentially over the past decade to become one of the leading real estate development companies in the region, with a share capital of aed 5. 78 billion following its ipo in may 2007 .
for this reason, deyaar focused on the default rate from the beginning of the property slowdown last autumn, mr giebel said .
defaults are very dangerous ,
mr giebel said .
the key is to bring this number down as low as possible .
what emerged over months of planning and consultations was a five - part strategy to lower deyaar' s natural rate of defaults from 50 per cent - a potentially staggering loss of income - to the low single - digit range. at the recently delivered al seef 2 project, the default rate was 3 per cent .
commenting on his new appointment, nasser bin hassan al shaikh said ,
deyaar is an aspiring entity in the real estate sector and i am confident that with the foresight of my fellow board members and the dedication of the team we will soon fortify the position of the company and take it to new heights .
to start, deyaar had to create its first customer service unit. many of the sales staff members had to undergo extensive training to understand things such as how to talk on the phone with angry customers and how to find out what their needs are if they are to be able to continue paying for their purchases. perhaps the most difficult task of all, mr giebel said, was changing the public image of deyaar in the market. the company underwent a complete rebranding with a new logo and corporate image and made itself more accessible to the media in order to give a more transparent account of what was happening at the company, he said .
much like the uae, deyaar has built our credentials on solid foundations that evoke trust and the collaborative engagement of every stakeholder. our unwavering determination to excel in an industry that is fiercely competitive has allowed us to grow as a customer - focused, trusted and valued developer with in - depth market intelligence and property management expertise .
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the concern is what is the strategy going forward ,
mr riley said .
this is something the board needs to consider .
he said the company was seeing
strange levels of liquidity
but there was no immediately apparent reason for this. three of deyaar' s top executives, including markus giebel, the chief executive, left in april after the board decided to move the company in a new direction. mr giebel was the architect of deyaar' s recovery strategy after the property recession, but he and the board could not reach an agreement on the final step of his plan to create a distressed - assets fund and increase recurring revenue, according to people familiar with the matter .
management believes that the amounts paid by the group are recoverable from the seller ,
ernst & young, deyaar' s auditor, said in an introductory note to the financial statements. it added that a sale and purchase agreement had never been signed and
accordingly the terms of mou have automatically terminated due to the passage of time
. bhope @ urltoken
when completed later this year, the atria will be a 32 - storey residential tower and a luxury serviced apartment tower. deyaar released 50 per cent of the serviced apartments to the market and kept the other half for ourselves. our retention of 50 per cent ownership for recurring revenue generation is based on our confidence that this product will make a strong return on investment .
deyaar is one of the largest developers in dubai, its real estate ventures span major growth corridors and prime locations, including business bay, dubai marina, al barsha, difc, jumeirah lake towers, dubai production city, dubai silicon oasis, al barsha south and al barsha heights. the company’s current project portfolio includes iconic residential and commercial tower developments as well as upcoming hospitality developments .
timetric' s
deyaar development: company profile and swot analysis
contains in depth information and data about the company and its operations. the profile contains a company overview, key facts, major products and services, swot analysis, business description, company history, financial analysis, recent developments, key employees, company locations and subsidiaries, employee biographies as well as competitive benchmarking data .
as a company, we have continuously refreshed our core services with a stronger and broader network of customers. consequently, deyaar’s expertise is increasingly in demand outside ourown portfolio of properties. long - standing partnerships on the development front have helped us differentiate ourselvesfrom our competitors. our wide range of projects is part of the company’s huge property portfolio in the prime commercial business district located in the heart of the city .
the board of directors met yesterday to discuss the company' s future strategy and its financial position, according to a disclosure on the dfm website. chet riley, an analyst at nomura securities, said the larger issue for investors was what deyaar planned to do in the years ahead. since it had not launched any new building projects, it was likely to see its revenue dry up starting in 2012, he said .
ascioglu said :
the group has to its credit almost five decades of experience in the turkish market and has succeeding in delivering key projects across the country. our agreement with deyaar is a natural fit as we are two leading companies with similar objectives, track records and values. we believe that by sharing expertise, we can leverage our mutual strengths to assess and capture opportunities that open up in the near future .
taaleem seeks a ruling that it is not obliged to pay the outstanding payments due on the building, court documents show. deyaar said in its first - quarter financial statements that it had paid dh185. 8 million (us $ 50. 5m) to the seller but expected to get a full refund because the terms of the agreement had expired. national bonds had an outstanding balance of dh186. 3m, the financial statements show .
so far, about half of the buyers in these buildings had opted for the consolidation option, and mr giebel said the company' s sales staff were working with the remaining buyers to increase this number. in some cases, they were giving these buyers discounts to accept the transition, he said. still, after all these steps, deyaar is left with a default rate of about 20 per cent. that is where the final step comes in .
dubai cares designs and funds integrated primary education programs that are impactful, sustainable and scalable. education is a critical factor in every child’s development. yet, 58 million primary - age children around the world today do not have access to education and a further 250 million are still not able to read, write or count adequately. dubai cares work is in line with deyaar’s social responsibility strategy which focuses on education as a basis for its contributions in the community .
al qatami said :
we are excited to join hands with turkey' s leading group in the real estate sector as part of our strategy to expand our global footprint. turkey presents appealing investment opportunities as a key destination in the emerging regional market. as a leader in the uae' s real estate sector, deyaar will continue to play an active role in focusing on high quality real estate projects while maintaining its commitment to providing shareholder value and exceptional customer care .
deyaar has developed 7 million sq ft of real estate in the uae. we have 7 million sq ft more under development. in the residential market, we are seeing increased demand for high - quality, affordable housing and apartments. more young professionals are entering the market all the time. as the world expo approaches, this trend will continue. the real - estate sector will need to continue adjusting to consumer and demographic trends. what must remain constant, though, is a commitment to the highest quality standards .
launching successful projects has not only allowed our business to grow, but also helped shape entities that are serving as sustainable sources of revenue. this has been made possible by carrying out unique initiatives for the customers leveraging on our strong financial capabilities. we extend unique payment options to potential buyers, making our appealing properties even more affordable. with a firm sense of business fundamentals, deyaar also sought to build a healthy cashflow. the company’s financial strategy through the years makes it possible to maintain debts at a minimum and risks atbay .
at deyaar, we believe we are unrivalled when it comes to knowing the market and knowing our customers. with more than 15 years’ experience, we understand market dynamics and our products are tailored for our loyal customers. we offer value to customers on product, design, service, location and market insight. our development projects, whether residential, commercial or hospitality, are always carefully weighed against market demand. so, we know the uae is undergoing rapid population and tourism growth and these drivers create demand for quality residential and hospitality projects .
commenting on this cooperation agreement, tariq al gurg, chief executive officer of dubai cares said: “what we have achieved so far on a global scale as a philanthropic organization is remarkable. to date, dubai cares is reaching more than 13 million children in 38 developing countries. what is more remarkable is the active support of corporations from the uae such as deyaar development, for placing education on their csr agenda and for realizing and supporting the work we do. we greatly value their support that represents the cornerstone of our philanthropic efforts worldwide. ”
i spent weeks just listening ,
mr giebel said this week .
the key to any business is to get all of the information first and then manage it .
in the months since then, mr giebel and deyaar' s leadership team have completely redefined the company, turning it into what nomura securities called a
market leader
in a recent report. not only does the company have a new logo and strategy, it is taking some of the most proactive measures in the region to combat the rising number of people defaulting on their property purchases .
the fund, which was created together with dubai islamic bank, will be between dh500 million (us $ 136. 1m) and dh1 billion in size. mr giebel said he had already secured about dh200m in solid commitments to the fund from investors, with another dh300m in advanced negotiations. despite these ambitious efforts, mr giebel said the most important part of deyaar' s recovery was not the formulation of the strategy .
strategy is always the easy part ,
he said .
the challenge is how do i make the organisation ready to implement the strategy .
the first step the company took was to ease payment plans, he said. this did not solve the problem of defaults, as much as buy the company time to come up with a fuller strategy .
easy payments don' t solve the problem ,
he said .
they delay the problem .
after this, deyaar started cutting prices of its properties. this made it easier for people who had already bought a home to get a mortgage because their paid - up capital would be higher. it also brought the company' s properties more in line with the market .
a year ago, deyaar development was in crisis mode. the company' s former chief executive had just been detained by police on allegations of fraud and the global credit crisis was threatening to overflow into the uae in a serious way. by the time of the cityscape dubai property conference in october, the situation was looking even grimmer, with sales slowing and speculators beginning to flee the market. markus giebel, the chief executive since last august, looked shell - shocked before a crowd of reporters pressing him for details on the company at the time. it turns out he was being quiet for a reason .
the us national has also been accused of dissipating about dh30 million in bribes during his tenure with the company between 2004 and 2007 .
the convict appealed immediately after the verdict was given and the first hearing to be held by the prosecution is scheduled on april 23 .
the dubai criminal court of first instance sentenced zs to 15 years in jail for taking dh20 million as bribe in return for approving contracts with other two companies in the cases dating back to july 2009 .
his accomplices km, 61, argentinian partner of ambiance technology, and other two fugitives - fl, canadian project manager, and as, british director - general, both of thermo - were sentenced to ten years in jail each after they were found guilty of taking dh10 million in bribes with the help of zs .
the court, however, acquitted them of the charge of using forged documents .
audits of the company’s records and bank accounts of the two managers proved that more than dh30 million was transferred to their private accounts .
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the new entrance to the sharjah airport was inaugurated on saturday. the ceremony took place in the presence of ali bin
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companies that own, operate, and provide garages and parking space for motor vehicles, as well as companies that offer valet parking services .
companies that develop, operate, manage, lease, sell, broker, appraise, or invest in residential and commercial real estate property holdings (including free trade zones, industrial parks, special zones, shopping malls, mixed use developments, and others) .
holding companies that engage in a variety of manufacturing, trading, and / or service industries either directly or indirectly by acquiring other enterprises such that they form a group of companies run as a single organization and under common ownership .
companies that operate and manage commercial and residential properties. management activities include planning and supervising, overseeing rent collection, maintenance, security, housekeeping services, and other managerial tasks. companies may manage properties that the are owned by them or manage properties on behalf of other owners .
companies that provide professional and business - related advice to other organizations. the companies' activities include analyzing existing problems and suggesting solutions, as well as providing general advisory services, implementation services, product services, transaction services, and support services .
companies that provide various business services to their clients (including advertising, auctions, business consulting, commercial cleaning, legal, public relations, repair and maintenance, security, translation and interpretation, staffing, survey and statistics, technical and scientific research, fairs and exhibitions, parking facility management) .
companies that own, operate, and manage entertainment, lodging, travel agencies, tour operators, spas, sports and recreation, as well as other leisure facilities .
holding companies that engage in a variety of industries either directly or indirectly by acquiring other enterprises such that they form a group of companies run as a single organization and under common ownership. conglomerates include organizations with diversified manufacturing, diversified services, diversified trading, and multi - line business activities .
companies that specialize in performing business, consumer, environmental, and other activities for companies, households, or individuals in exchange for fees; and associations that promote the interests of their members including business and non - business associations or groups .
companies that develop and own commercial and residential real estate properties for sale or rent. the developers generally acquire land for their projects .
companies that manage and operate real estate properties that include residential, commercial, touristic, and mixed - use properties (also referred to as
facilities management
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companies that provide management services on contract or fee basis to lodging businesses. the companies' activities include planning, supervising and evaluation of operations for owners of hotels, motels, resorts, residential compounds, rooming and boarding, and other lodging facilities .
companies that provide management services on contract or fee basis to leisure - related organizations. the companies' activities include planning and supervising operation activities and performance for organizations that are involved in entertainment, lodging, sports and recreation, travel and tourism, spas, and other leisure activities .
companies that arrange for the purchase or rental / lease of real estate on a commission or fee basis. the company may represent the buyer or seller in a sale transaction and may represent the landlord or renter / lessee in a rental / lease transaction .
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shariah compliant real estate property investment, development and management; provides real estate business consultancy and brokerage services. through its main subsidiaries; provides parking facility and hotel management .
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in january, we announced a 50 - 50 joint venture with dubai south, called the residential district, to develop a 1. 27 million square - feet site into a mixed use project comprising residential property, retail and hospitality facilities. dubai south is part of the emerging urban landscape of the uae. located beside the world expo 2020 site and al maktoum international airport, the project is set to become a lively, connected community that reaches across the business, entertainment, tourism and family segments .
this year, we will take to the market two more key developments — mont rose, two residential towers and a hotel apartment in al barsha south, which is on track to be handed over by mid - year; and the atria, a 32 - storey residential tower and a luxury serviced apartment tower in business bay, which will be handed over by the end of the year .
in midtown, located in dubai production city, we are planning to launch two new phases following the success of afnan district and dania district. midtown now spans a built - up area of 4. 8 million sq ft, with 13 residential developments offering luxury apartments in an integrated urban community .
we are responding to demand for residential accommodation in the uae, with more than 4, 700 units built and over 4, 200 under construction. the uae’s population is rapidly growing, especially in urban areas, and the demand for hospitality is rising as the government intensifies efforts to draw more business and leisure tourists, while preparing to host the world expo .
we know, too, that facilities management and property management are fast - growing business segments as clients outsource work to get the right expertise. our portfolio is diversified because we want to offer customers an end - to - end, value - based, complete real estate experience .
that helps to differentiate us in the market. it is what is helping us to scale, as we adapt our business model for what the market wants .
you had recently announced offering a guaranteed 14 per cent return over two years for units at the atria in business bay. in a sluggish market, are you confident about offering these returns ?
the atria, located in business bay’s busy urban hub, will overlook the dubai water canal. the recurring revenues we will generate from our ownership of the units, as well as the revenue raised by selling the other half to investors, demonstrate a sound business strategy and confidence in the market .
we are planning to grow across the business to attract the interest of global investors in our development projects. new projects are due to come on stream shortly, including dubai south, mont rose, the atria and hotel and serviced apartments in al barsha .
among our key focus areas will be the retention of ownership of developments, such as the millennium & copthorne - operated hotel in al barsha and a 50 per cent stake in the atria, so that we can generate recurring revenues for our business .
similarly, in the residential segment, we have 4, 200 units under construction as the population continues to increase .
as part of our mixed - use developments, we will provide over 1 million sq ft of hospitality facilities .
you cater to a wider spectrum by offering mid - segment properties, both in the residential and hospitality sectors. would you continue that strategy ?
so, our strong performance is based on the quality of what we sell, as well as our knowledge of what the market is seeking. we will continue to offer a well - diversified product and services portfolio to the market .
urltoken is the most widely read newspaper, and online site in english in the middle east. with a daily bpa audited paid circulation of over 93, 068 as of june 2017, and an online audience of 5. 3 million uniques every month, it is your go to source for information on the region. sign up below to begin personalising your experience
from deep crisis mode a year ago, with its chief executive detained on fraud allegations, the company has made a strong comback .
the so - called default rate is a uae property developer' s worst nightmare. largely, this is because the construction projects here are being financed entirely by buyer payments as they come in. in some more developed economies, much of property construction is financed by loans to the developer to avoid problems caused by hiccups in demand. without these regular payments from buyers, some developers here have been forced to delay projects and stall construction until they can figure out a way to survive .
the company has created a distressed asset fund that will take over property from buyers who default on their payments. this works especially well because of the recent introduction of law no 9, which specifies how much a buyer is refunded if they default, based on a sliding scale. for instance, if they have paid 30 per cent, but the project is more than 80 per cent complete, they lose the entire amount. if they have paid 30 per cent and the project has not started construction, they would get a refund of 70 per cent of the money they had paid until that point .
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filed on august 30, 2015 | last updated on august 30, 2015 at 08. 16 am
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, a global philanthropic organization that aims to provide children in developing countries with access to quality primary education .
the dubai cares adopt a school initiative aims to provide children and adults living in remote areas in a number of developing countries with access to quality primary education by building new schools. each school is built to host at least 150 students and 60 women. in nepal, the initiative strives to increase school attendance in the western region of the country by 15 to 20 per cent, in addition to increasing adult literacy rates by educating 60 women who did not go to school or receive education .
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recognised for their vision, knowledge and contribution to industry, our directors are one of our most valuable assets. this panel of well - established and powerful entrepreneurs provides us with critical insights into new business opportunities, while empowering and nurturing our leaders of the future to continue our unrivalled track record of growth and development .
there is no glory without the glory of the country and its citizens. we have to be proud of our forefathers, who were able to face the harshness of life with a strong will and dedication to shape a better collective future, ” said late sheikh zayed bin sultan al nahyan, founding father of the uae .
with the blessings of our forefathers and the limitless support of his highness sheikh mohammed bin rashid al maktoum, vice president and prime minister of the uae and ruler of dubai, the magnificent vision of the country’s founder president is a reality today with every sector making strong headway in contributing to economic progress and creating growth opportunities for the wider region .
it is indeed noteworthy that the uae has emerged as a force to reckon within the middle east, establishing itself as a dynamic hub for global commerce that integrates technology and advanced infrastructure to offer an international standard of living. the country is poised to craft an even stronger narrative in the future with dubai gearing up full throttle for the upcoming expo 2020 .
today, we can proudly claim to have established a foothold in the uae’s real estate sector as a leading developer and property solutions provider .
as an organisation, we have adapted to changing conditions and consistently invested in building and managing properties on par with global standards. with the continued support of our investors, shareholders and customers, we plan to create value for the communities we serve. profits are essential but in the long run we prioritise social responsibility backed by performance. we aim to chartthe road ahead through consolidating our strengths in pioneering a company that is cosmopolitan in outlook even while drawing inspiration from the country’s resilient roots .
in keeping with these values, we comply with best practice regulations without ever compromising our investors’ and shareholders’ interests.
deyaar is a leading local and regional real estate developer and real estate services company . at inception , deyaar was the property management unit of dubai islamic bank . deyaar was later established as a private shareholding company on january 6 , 2001 and commenced operations on june 1 , 2003 . 
deyaar is a leading local and regional real estate developer and real estate services company. at inception, deyaar was the property management unit of dubai islamic bank. deyaar was later established as a private shareholding company on january 6, 2001 and commenced operations on june 1, 2003.
deyaar is a leading local and regional real estate developer and real estate services company. at inception, deyaar was the property management unit of dubai islamic bank. deyaar was later established as a private shareholding company on january 6, 2001 and commenced operations on june 1, 2003.