Dubai real estate company Deyaar Development said revenue increased in the first quarter of 2026, as growth in property and facility management offset a slowdown in the hospitality segment.
The top line rose just over 3 percent year on year to AED447 million ($122 million), the developer said in a statement to the Dubai Financial Market.
Net profit attributable to shareholders rose marginally to AED110 million in the quarter ended March 2026, from AED112 million a year ago. However, profit before tax surged 23 percent annually to AED 148 million.
The developer handed over 1,425 units across three projects in Dubai in the first quarter.
The revenue breakdown by business segment was not given.
CEO Saeed Mohammed Al Qatami said that the fundamentals of Dubai’s real estate market remain robust, supported by high demand and favourable economic conditions, allowing Deyaar to effectively capitalise on emerging opportunities.
Total assets rose by 12 percent to AED8.2 billion as of March 31, 2026.
Dubai Islamic Bank owns 44.98 percent of Deyaar. The company’s shares closed 1.8 percent lower at AED0.82 on Monday, down 18 percent so far this year.