Deyaar elects new Board and approves dividend at AGM
Financial Deyaar elects new Board and approves dividend at AGM
By
The newly elected Board will reinforce Deyaar's commitment to corporate governance, innovation, and sustainable growth
Deyaar Development conducted its Annual General Assembly (AGA) under the leadership of its Chairman, Abdulla Ali Alhamli. The meeting brought together the company's Board of Directors, shareholders, senior management, external auditors, and representatives from regulatory bodies, marking a milestone in Deyaar's corporate governance calendar.
In a strong show of corporate alignment, shareholders overwhelmingly approved all agenda items, demonstrating confidence in the company's strategic direction. The General Assembly elected a new Board of Directors for the 2025-2028 term, comprising, Abdulla Ali Alhamli, Hamad Mubarak Buamim, Adnan Chilwan, Mohammed Saeed Al Sharif, Maryam Mohammed Bin Faris, Mohammed Rashed Bin Dhabeah Al Ketbi, Rashid Hasan Aldaboos, said a statement.
The newly elected Board is expected to reinforce Deyaar's commitment to corporate governance, innovation, and sustainable growth, further strengthening its role as a key enabler in the UAE's economic diversification and real estate development goals. The approval of a 5% dividend distribution underscores Deyaar's financial performance and commitment to delivering shareholder value.
Deyaar continues to deliver transformative developments reflecting innovation, and sustainability. With a portfolio that spans residential, commercial, and hospitality sectors, Deyaar remains at the forefront of shaping the nation's urban future. The company reaffirms its commitment to supporting the UAE's visionary development agenda, contributing meaningfully to the country's socioeconomic progress, and delivering long-term value to stakeholders.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Post
4 days ago
- Arabian Post
Deyaar Aims High with AED 2 Billion Flagship Residential Tower
Dubai-listed Deyaar Development has announced ambitions to achieve sales of nearly AED 2 billion from its Downtown Residences project in Business Bay, CEO Saeed Mohammed Al Qatami confirmed to CNBC Arabia. The mammoth twin‑tower, rising over 110 storeys and reaching 445 metres in height, is slated to commence construction in the fourth quarter of 2025. Completion is targeted for the end of 2030, with the project offering 522 residences, including one‑ to three‑bedroom apartments, duplexes, penthouses and an exclusive 'royal palace' at its summit. Al Qatami emphasised the strength of Deyaar's current development pipeline, valued at AED 1.1 billion and sufficient to sustain operations for the next two years. To complement this, the firm maintains liquidity of AED 1.8 billion alongside bank facilities totalling AED 900 million. The CEO also said that Deyaar will deliver five projects beginning July, indicating a phase of robust execution. Those five developments, amounting to approximately AED 8 billion, align with Deyaar's strategy of capitalising on strong demand in the UAE residential market. In February, the company confirmed plans to launch four projects in Dubai and one in another emirate, targeting AED 4 billion in sales this year. The earlier debut of Rivage on Al Reem Island, a waterfront community in Abu Dhabi, was fully sold, marking a successful expansion beyond Dubai. ADVERTISEMENT Financially, Deyaar recorded a strong start to the year, posting a net profit before tax of AED 119.8 million in the first quarter—up 54 per cent year‑on‑year. This reflects the combined impact of project launches and rental income from retained retail and office assets. Downtown Residences has been described as Deyaar's most ambitious undertaking, set within Dubai's 'golden triangle' and adjacent to the Business Bay metro station. Positioned for residents to enjoy sweeping views of Downtown Dubai, Sheikh Zayed Road, the Burj Khalifa and the Arabian Gulf, the development promises a transformative living experience. The vertical twin towers will feature five lifestyle zones—a ground‑level urban oasis, wellness‑focused sensory podiums with floating gardens and AI‑enabled meditation pods, executive business lounges, and a 'Sky Mansion' at the summit. The top floor will house a private dining club, exclusive lounges and a screening room. Dubai's property market backdrop remains bullish. Last year, real estate deals in Dubai reached AED 761 billion—a 20 per cent gain—while property prices climbed 19 per cent, according to Knight Frank. Ultra‑luxury sales soared, particularly in early 2025. However, Fitch Ratings recently warned of a potential 15 per cent price correction amid anticipated project deliveries doubling over the next two years. Deyaar's financial posture remains conservative yet opportunistic. Majority owned by Dubai Islamic Bank, the developer has restructured financial liabilities and reduced legacy losses over the past years. Its blend of equity-backed and bank‑funded new launches, along with retained rental assets, supports a balanced business model. Analysts note that with demand supported by long‑stay visas for retirees and remote workers, as well as the 10‑year golden visa programme, Dubai's property sector continues to attract international buyers. Deyaar's move to reserve rental components within its developments will allow it to tap both sale and leasing markets.
ME Construction
13-06-2025
- ME Construction
Deyaar unveils Downtown Residences in Dubai
Property Deyaar unveils Downtown Residences in Dubai By Downtown Residences aims to re-imagine urban living by drawing inspiration from Maslow's Hierarchy of Needs Deyaar Development has unveiled Downtown Residences, a 445m tall residential development that will feature twin towers designed around the concept of vertical living. By presenting the concept of vertical living, Downtown Residences reinforces Deyaar's commitment to luxury living. Offering 522 units with views of downtown Dubai and the Burj Khalifa the project will feature a diverse range of one to three bedroom apartments, duplexes, penthouses, and an exclusive Royal Palace at the tower's summit. The residences will provide a blend of luxury and convenience, said a statement from the developer. The launch follows the success of Deyaar's previous developments in Business Bay, showcasing its contribution to shaping Dubai's urban living. Dynamic Avenue, a wellness and social hub will offer a curated lifestyle for residents while Sky Pinnacle 360, aims to provide amenities tailored to every dimension of elite urban living. Dynamic Avenue will also feature playrooms, multi-function lounges, kids' creative havens, and curated social retreats. Saeed Mohammed Al Qatami, CEO of Deyaar Development said, 'We are proud to announce Downtown Residences, Deyaar's most ambitious project to date, situated in one of Dubai's most prestigious locations. This luxury high-rise is designed to transform urban living, offering residents an elevated experience that combines comfort, style, and modern amenities. Each floor has been carefully crafted to enhance the quality of life, creating spaces that foster connection and inspiration.' 'Our vision for Downtown Residences goes beyond mere construction; it is a commitment to excellence and innovation in real estate. We are confident that this landmark project will not only set a new standard for luxury living but also create exciting investment opportunities. Investors can trust that Downtown Residences will be a vital part of Dubai's ongoing growth and development, aligning with the aspirations of the city and its vibrant community,' he added. 'Downtown Residences re-imagines urban living by drawing inspiration from Maslow's Hierarchy of Needs, transforming traditional residential design into a structured journey of luxury, community, and self-actualisation. This transformative concept evolves traditional residential design into a structured journey of luxury, community, well-being, and self-actualisation,' added Patrick Bernard Rouse, Chief Development Officer at Deyaar Development. Midway through the tower a Sensory Oasis will offer floating gardens, air yoga zones, AI meditation pods, an invisible spa, and luxury fitness spaces. At 100 storeys up, the Summit Society will boast dining concepts, exclusive lounges, a screening room, and Legacy Lounge. Downtown Residences will also have a residents Club with AI-powered workspaces, private executive pods, and networking hubs for business leaders. The project will feature a dramatic central slit and five vertical zones that ascend from the Urban Oasis at podium level to the Sky Mansion. The integrated landscape design blurs the lines between nature and built space, offering serene moments within the high-energy bustle of the city, the developer said.
The National
12-06-2025
- The National
Deyaar's ‘royal palace' at new Dubai tower comes with Dh90m price tag
Deyaar Development's plush 'royal palace' at the top of the newly unveiled residential tower near Sheikh Zayed Road will be priced between Dh80 million and Dh90 million ($21.78 million and $24.5 million) amid higher demand from buyers, its chief executive has said. This week, Dubai-listed Deyaar launched 445-metre high Downtown Residences, a 110-floors skyscraper, which is the biggest project the company has launched so far. 'It's a big space,' Saeed Al Qatami told The National in an interview in Dubai on Wednesday. 'We are talking about close to 15,000 square foot in the sky, with swimming pools and other amenities.' Deyaar plans to begin selling the units to clients next week, with a one-bedroom apartments priced at Dh1.8 million. Penthouses and duplexes will also be up for sale. The company expects to generate Dh2 billion from the sale of housing units, with construction scheduled to begin by the end of the year, Mr Al Qatami said. 'We have seen a very good [initial] interest. People are eager to know more about the project, about the pricing, about the payment plan," he added. 'We also have a strong channel partners network ... and they are keen to sell it to their clients.' Apart from Emiratis and residents, the company is also targeting buyers from Europe, China and markets in Asia and beyond. Deyaar expects to sell about 60 per cent of Downtown Residences' 522 units up for grabs this year. The company will fund the construction of the project through the cash generated from off-plan home sales, Mr Al Qatami said. "We also have over Dh900 million of [bank] facilities unutilised as of now. So, if required, we will tap some of those facilities," he said. "These are bank loans approved for us ... but we have not utilised." The property sector in the UAE has been booming on the back of government initiatives such as residency permits for retired and remote workers as well as sustained economic growth that is driven by non-oil sector diversification. The influx of wealthy people to the Emirates is also supporting the market momentum. Last year, 7,200 millionaires arrived in the UAE, building on an influx of 4,700 in 2023 and 5,200 in 2022, property consultancy Knight Frank said, citing data from Henley & Partners. The total number of US dollar millionaires in the UAE reached 130,500 at the end of December, making the Emirates the world's 14th-largest wealth market. Demand for homes continues to remain strong in Dubai as well as across the Emirates as the population is consistently increasing with a large number of people moving to the Emirates to live and work, Mr Al Qatami said. 'People want to relocate from Singapore, the US, UK, Europe as well as from India and Pakistan and some Arab countries as well,' he said. 'People are coming here for different reasons ... [and] they think it's the right place to live. As long as this happens, the real estate sector will continue to be healthy and you will be able to either lease those units or sell them at good rates.' Prices not expected to fall Property prices will "stabilise at a certain level" this year and will not fall as demand remains strong, Mr Al Qatami said. In a recent report, Fitch predicted Dubai property prices to fall by 15 per cent this year on oversupply in the market. The credit ratings agency expects unit deliveries in this year and next to double compared to 2022 to 2024, 'which could cause a price correction'.
