Leading Dubai-based real estate developer, Deyaar Development, has announced plans to hand-over four projects this year, which comprises more than 1000 units, including three commercial projects in the Business Bay and a residential project in the International Media Production Zone (IMPZ) in Dubai.
The first project to be delivered this year will be the commercial tower, Fifty One @ Business Bay in the month of February, followed by Oakwood Residency located in IMPZ in March. Two other commercial projects will be delivered during second half of 2012, Deyaar reported in its statement on the Dubai Financial Markets website.
At present, Deyaar manages more than 16,000 commercial and residential properties. Its operations are divided across lease management, real estate development, fund management and asset management.
Nearly 90 percent of its units have been sold, with the total sales value for all units were worth about Dh.1.5bn.
Deyaar recorded good profits in the third quarter of last year, notching up a total profit of Dh.580,000, in comparison to sizable losses in 2010.