Deyaar
Dubai real estate company
From Wikipedia, the free encyclopedia
Deyaar is a UAE-based real estate development and services company. The company develops and sells residential and commercial properties and is majority owned by Dubai Islamic Bank.
| |
| DEYAAR | |
| Company type | Corporation |
| Industry | Real Estate |
| Founded | January 1999 |
| Headquarters | , |
Key people |
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| Owner | Dubai Islamic Bank[1] |
| Website | Deyaar |
History
At inception, Deyaar started as the property management unit of Dubai Islamic Bank. Deyaar was later established as a private shareholding company on January 6, 2001, with a paid up capital of AED 18.38 million, and commenced operations on June 1, 2003.
In May 2007, Deyaar became a public joint-stock company and was listed on the Dubai Financial Market.[2][3]
In 2019, a UAE court ordered Dubai-based developer Limitless to pay Deyaar AED 411.9 million in a land dispute, AED 61.1 million in fees and compensation.[4][5] In October 2022, Deyaar's board of directors approved an AED 500 million cash settlement made by Limitless.[6][7]
Projects Deyaar worked on include the Dh1bn Regalia tower in Business Bay, the Bella Rose development project in Dubai Science Park, and Tria residential tower in Dubai Silicon Oasis.[8][9]