(MENAFN-Khaleej Times) The customer-focused developer with in-depth market intelligence also reported more than Dh650 million rental earnings from its commercial and residential properties spread across six Emirates
Deyaar Development on Tuesday said its property and asset management portfolio further strengthened to 20,369 units with the addition of 2,600 new properties in 2013.
The customer-focused developer with in-depth market intelligence also reported more than Dh650 million rental earnings from its commercial and residential properties spread across six Emirates.
The Dubai-based company said it secured majority of the new contracts in Abu Dhabi, Dubai, Sharjah and Ajman. However, growing interest from landlords in Al Ain, Ras Al Khaimah and Fujeirah also contributed to the upturn in Deyaar’s division.
“Deyaar has invested heavily to ensure we deliver the best quality services across the properties we own, as well as those that have been contracted to us. We understand the importance of catering to the needs of both the landlord and the tenant through a well-defined process and with the support of a dedicated team of professionals,” Dr Rashid Abdulla Al Haji, vice-president of property and asset management at Deyaar, said.
Deyaar’s announcement comes at a time when the UAE real estate market is witnessing clear signs of buoyancy, with analysts estimating between 7 to 10 per cent increase in residential stock in 2014, in prime markets such as Dubai and Abu Dhabi. In the commercial sector, the new year is expected to usher in office gross leasable area (GLA) of 12 to 16 per cent in the same markets.
“The real estate market in the UAE is growing exponentially yet again and we have witnessed a surge in interest for our services. Given this favourable environment, we are confident that our division of quality property management will register a definite surge in operations in 2014,” Dr Rashid said.
Deyaar Development is a leading real estate developer and real estate services company. Since its establishment in 2002, the company has registered exponential growth to become an industry leader in the region, with a share capital of Dh5.78 billion.
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