Dubai profit down for Deyaar

For many experts, the value of real estate in the UAE and property in Dubai is unlikely to fall any further. Recent price falls from last years peak has meant a loss for real estate developers, Deyaar.

Whilst the company reports its profits down by 74% over the last three quarters, it still remains a profitable and forward looking entity, expecting to complete more projects in 2010 and double the size of its portfolio.

As we continually see from companies in the region, such reduced income is forcing many developers to rethink their strategies, to become more efficient & streamlined to ensure their place in more profitable times ahead.

Deyaar is confident of remaining profitable for the rest of the year. This news combined with its ambitions to move into the European market saw it share prices recently rise.

Yet again Dubai proves to be a key location in setting an industry example and aiding the market recovery.