Capital base doubled for real estate giant Deyaar
UAE real estate giant, Deyaar, recently announced a100 percent increase in its paid up capital in an effort to boost the company’s plans to diversify and expand its property development and management activity into newer markets in the Middle East, North Africa and Europe.
The company’s paid up capital, following the decision, stands at Dh1 billion, up from Dh500 million, according to <i>Khaleej Times</i>.
"We are delighted with the increase in Deyaar's paid up capital as this will enable the company to benefit from the explosive growth in the regional construction and real estate sector. Deyaar has embarked on a major expansion plan, investing in new projects in the UAE, Lebanon, Turkey and Sudan. We are also scouting for investment opportunities in Saudi Arabia, Qatar and Eastern Europe," said Deyaar CEO, Zack Shahin.
- Deyaar announces 100% increase in company’s capital base
- New residential tower to be launched by Deyaar
- Deyaar seals AED 600 million Mudaraba with Dubai Islamic Bank to fuel strategic growth
- Deyaar announces IPO of AED 3.178 billion; Issue opens on May 6, 2007
- UAE: Deyaar reports 92 per cent increase in net profits for 2005