Deyaar dares to defy in Dubai

Prices of property in Dubai may have plummeted, property developers & market agents are falling by the wayside, but Dubai developer Deyaar is re-tying its boot laces ready for a positive & long haul trek into 2010.

The company recently reported a 20% cut in staff. For most this would almost seem to be the beginning of the end. Deyaar deems it entirely necessary, acceptable & normal for the company to emerge from the global bite as an industry leader.

The company’s chief executive, Markus Giebel, recently described 2009 as a development holiday, with a focus on much more major developments in 2010.

Real estate in the UAE is expected to see further price slips, some say around 10%. With all that has gone before, many would hold their hands to their heads in desperation. Deyaar has announced it has Dh500 million ready & set aside for expansion of its port folio as it expects to move into development throughout the middle east, as well as new market sectors within the UAE.

The Dubai market may be down, but Deyaar is ensuring it isn’t out.