Member Options
Login Register Why Register ? Forgot Password Activate Account

Property Search

Type All Apartment Penthouse Duplex Triplex Loft apartment Condo Town houses Villa Farm house Beach house Shop Office Unit Office Floor Retail Unit Restaurant Plot Bedroom All Nill Studio 1 2 3 4 5 6 7 8 8+ Area All Less than 500 Sq.Ft 500 to 1000 Sq.Ft 1000 to 1500 Sq.Ft 1500 to 2000 Sq.Ft 2000 to 2500 Sq.Ft 2500 to 3000 Sq.Ft 3000 to 3500 Sq.Ft 3500 to 4000 Sq.Ft 4000 to 4500 Sq.Ft 4500 to 5000 Sq.Ft More than 5000 Sq.Ft Price All Less than 500K AED 500K to 1000K AED 1000K to 1500K AED 1500K to 2000K AED 2000K to 2500K AED 2500K to 3000K AED 3000K to 3500K AED 3500K to 4000K AED 4000K to 4500K AED 4500K to 5000K AED More than 5000K AED

Real Estate News
Qatar’s property market maturing well AFP’s project under highly accelerated construction plan Realty Capital announces completion of 5th podium of i-Rise Property developers adjusting pricing and payment schemes Cityscape Abu Dhabi to tackle debate on global challenge

Deyaar to launch IPO soon in Dubai

- April 22, 2007, 7:36 pm

Marking a milestone in its aggressive growth, Deyaar, the region’s fastest growing real-estate company, today announced that it has secured the approval of the UAE’s Ministry of Economy to launch its Initial Public Offering (IPO).

The issue is slated to open on May 6, 2007 and will close on May 16, 2007.

The total size of the offering is AED 3.178 billion allocated over 3.178 billion shares, representing 55% of the company’s capital. The shares will be offered at a price of AED1.00 per share in addition to 0.02 fils as offering costs.

Subscription will be open to UAE and GCC nationals. SHUAA Capital is the IPO’s Lead Manager and Sole Bookrunner, with Millennium Capital as co-lead manager, and Dubai Islamic Bank as lead receiving bank.

Deyaar’s growth has been spectacular with net profits rising from AED 5 million in 2003 to AED 73 million in 2004, AED 141 million in 2005 and AED 412 million in 2006.

Commenting on the company’s growth, H.E. Dr. Mohammed Khalfan Bin Kharbash, Chairman of Deyaar and UAE Minister of State of Finance and Industry, said, ‘Deyaar’s success is powered by its highly professional management and capability to tap into the pulse of the market. The company’s commitment to Shariah principles and strong support rendered by its parent, the Dubai Islamic Bank, has played a major role in its progress.”

‘Deyaar’s growth has been phenomenal, outperforming the surging real estate market. The company has witnessed several milestones, evolving as one of the region’s most prominent real estate players. Going forward, Deyaar has chalked out a dynamic growth strategy that will place it among the top regional players in the real estate landscape. Deyaar’s IPO will not only give investors an opportunity to participate in its success but also benefit from the stupendous growth in key real estate markets.’

Elaborating on the company’s strengths, Zack Shahin, Chief Executive Officer, Deyaar, said, ‘In a short span of 3 years, Deyaar has earned the confidence of customers, investors and its shareholders. In doing so it has constantly exceeded shareholder expectations and achieved Return on Weighted Capital (ROWC) of 55% in 2006.

‘Proceeds from the IPO will be used to finance the company’s massive expansion in property development in a series of mega projects in the UAE as well as spearhead its growth in key strategic markets of Saudi Arabia, Qatar, Kazakhstan and India.’

The real estate industry has fuelled economic growth within the region. Deyaar is strategically positioned at the forefront of this major sector through its track record of successful project deliveries and in-depth understanding of the market.

Deyaar, a wholly owned subsidiary of Dubai Islamic Bank, is one of the region’s leading real estate players, with over 17 residential and commercial projects across the UAE, Turkey and Lebanon. The company also leads the property management segment with approximately 16,000 units in the UAE.

Makram Kubeisy, Managing Director of the Investment Banking Group at SHUAA Capital, said, ‘Deyaar not only enjoys the advantage of being a company with strong fundamentals and a solid track record with proven profitability, but is well positioned to capitalize on the strength of the real estate sector in the UAE in general and in Dubai in particular, and its projected future performance.’

Related News

Deyaar announces hands over of seven projects in 2009

Global Investment House – Jordan successfully closed IPO

National Bonds Signs agreement with Deyaar

Nakheel and Dubai Islamic Bank Tashyed begins development

Deyaar launches new residential tower at IMPZ

Latest News

Tameer announces ground breaking of Platinum Towers

Baniyas Investments awards contract to Saunders Global

ARRA sets deadline for the developer’s registration

Omniyat Properties current CEO to step down

Damac announces Completion of enabling works at Lincoln Park

News Archive

Currency Converter
From : U.A.E. Dirham Euro Pound Sterling U.S. Dollar To : U.A.E. Dirham Euro Pound Sterling U.S. Dollar