Deyaar, a diversified real estate company and a wholly owned subsidiary of Dubai Islamic Bank has consolidated its position in the Middle East region’s realty sector, as witnessed by the strong interest generated for its projects at the recently concluded International Property Week (IPW) 2006.
At the IPW, Deyaar showcased its notable projects in the UAE such as Churchill Towers, Madisson Residency, Al Seef Towers II & III. Also represented are Saifi Village II and Nacim Baabdet, which Deyaar is developing in Lebanon. It is important to mention that Churchill Towers, in particular triggered considerable investor interest.
Commenting on the success of the company at IPW 2006, Zack Shahin, CEO of Deyaar, said, “Our presence at the IPW has augmented our position as the Middle East region’s prominent developer of realty. The show had accorded us the ample opportunity to showcase our projects, which has inspired the investor confidence in us. We are certainly gladdened by the good feedback given by the visitors to the show for our projects.”
Some of the hugely successful developments of Deyaar at the IPW, Churchill Towers comprise of two towers, Churchill Executive and Churchill Residency are set to be constructed at the epicentre of Business Bay, a new commercial cluster in Dubai. Churchill Executive offers 42 stories of exclusive corporate office space, with infrastructural amenities and state-of-the-art business support systems. The Residency tower, on the other hand, is a top luxury development comprising of 59 floors, uniquely designed to suit the taste of modern business people.
The towers’ infrastructural amenities and state-of-the-art facilities for business and leisure, such as integrated voice and data transfer over high speed internet, makes the Churchill Towers the most sought-after business and residential addresses in Dubai.
Deyaar’s regional portfolio includes projects such as Solidere Saifi Village II and Nacim Baabdet in Lebanon. Solidere Saifi Village II, is situated in Downtown Beirut, and comprises of four blocks of ultra-chic, apartments sharing landscaped areas and gardens. The apartments are well equipped with modern amenities, and have balconies that take full advantage of the excellent Mediterranean climate.
Nacim Baabdet will be considered one of the most beautiful landmarks in Lebanon upon completion, and will comprise a group of 16 exclusive villas built to European standards to suit the taste and lifestyle of the Arab Gulf. The project’s appeal comes from its location in the heart of the Lebanese mountains.
Deyaar manages over 16,000 residential and commercial units across 700 buildings in the UAE generating over AED 300 million of rental income for property holders, and offers leasing, maintenance and brokerage services for residential and commercial properties. The company had recently reported a net profit of AED 140 million for the year 2005, a 92 per cent increase compared to 2004.
