Dubai Financial Market-listed Deyaar Development has reported a net profit before tax of AED 541.5 million for the first nine months of 2026, representing a 27.2% increase compared with AED 425.7 million during the corresponding period of 2025.
According to the company’s financial results announced on October 22, 2026, total revenue increased by 5.2% year-on-year to AED 1.52 billion, compared with AED 1.45 billion in the first nine months of 2025, supported by continued project deliveries across its residential developments in Dubai.
Net profit after tax increased by 17.8% to AED 478.8 million, compared with AED 406.4 million in the corresponding period last year.
Net profit attributable to shareholders of the parent company rose by 9.1% to AED 445.7 million, compared with AED 408.4 million in the first nine months of 2025.
The company’s pre-tax profit margin expanded to 35.6%, compared with 29.4% a year earlier, reflecting stronger profitability despite relatively moderate revenue growth.
Direct costs declined by 1.2% to AED 991.4 million, compared with AED 1.00 billion in the corresponding period last year.
General, administrative and selling expenses decreased by 11.5% to AED 129.4 million, compared with AED 146.3 million in the first nine months of 2025.
Other income increased to AED 57.9 million, compared with AED 38.1 million a year earlier, while finance income rose to AED 43.7 million from AED 26.6 million.
The company’s share of results from a joint venture and an associate declined to AED 70.2 million, compared with AED 83.9 million during the corresponding period last year.
Basic and diluted earnings per share increased to 10.19 fils, compared with 9.33 fils in the first nine months of 2025.
For the third quarter of 2026, Deyaar reported a net profit before tax of AED 205.4 million, representing a 29.1% increase compared with AED 159.1 million in Q3 2025.
Quarterly revenue increased by 9.3% to AED 570.3 million, compared with AED 521.6 million in the corresponding quarter last year.
Third-quarter net profit after tax rose by 14.3% to AED 180.5 million, compared with AED 157.8 million in Q3 2025.
Basic and diluted earnings per share for the third quarter increased to 3.87 fils, compared with 3.59 fils a year earlier.
Deyaar continued to deliver residential units across its communities in Dubai, with more than 2,100 units handed over since the beginning of 2026.
The company highlighted that its handover performance has supported the conversion of its sales portfolio into completed properties and recognised revenue.
Chief Executive Officer Saeed Mohammed Al Qatami attributed the company’s performance to disciplined project execution, successful handovers and continued progress across its development portfolio.
He emphasised that Deyaar’s strategy remains focused on converting its sales pipeline into realised value while maintaining financial discipline and strengthening long-term shareholder returns.
According to the company’s interim financial statements, property development activities generated AED 1.32 billion in revenue during the first nine months of 2026, compared with AED 1.24 billion in the corresponding period last year.
Revenue from properties and facilities management increased to AED 137.8 million, compared with AED 135.0 million in the first nine months of 2025.
Meanwhile, hospitality-related revenue declined to AED 60.4 million, compared with AED 75.9 million during the corresponding period last year.
On the balance sheet, total assets reached AED 8.05 billion as of September 30, 2026, compared with AED 8.03 billion at the end of December 2025.
Total equity increased by 4.3% to AED 5.91 billion, compared with AED 5.67 billion at the end of 2025.
Total liabilities declined by 9.1% to AED 2.14 billion, compared with AED 2.36 billion at the end of December 2025.
Cash and bank balances increased to AED 2.97 billion, compared with AED 2.21 billion at the end of 2025.
However, cash and cash equivalents, which exclude certain term deposits and restricted balances, stood at AED 1.91 billion, compared with AED 2.10 billion at the beginning of the year.
Net cash generated from operating activities increased to AED 483.6 million, compared with AED 468.2 million during the first nine months of 2025.
Net cash used in investing activities amounted to AED 341.8 million, compared with net cash generated of AED 265.1 million in the corresponding period last year.
The company also reported net cash used in financing activities of AED 330.0 million, compared with AED 308.2 million during the first nine months of 2025.
Total borrowings declined to AED 336.9 million as of September 30, 2026, compared with AED 403.8 million at the end of December 2025.
During the reporting period, Deyaar paid AED 218.8 million in dividends to shareholders, equivalent to 5 fils per share, following approval at its Annual General Meeting on April 8, 2026.
Beyond its financial performance, Deyaar continued its community initiatives through partnerships with Al Jalila Foundation and Dubai Club for People of Determination, supporting healthcare, inclusion and social development programmes.
Looking ahead, the company stated that it remains focused on maintaining profitability, completing scheduled handovers and advancing construction across its active development projects.
Management expressed confidence in the company’s ability to achieve its growth objectives for 2026, supported by its ongoing project pipeline and continued demand for residential developments in Dubai.
Deyaar’s nine-month results reflect stronger profitability, continued revenue growth and an improved balance sheet, supported by residential handovers and disciplined cost management.
Source: Deyaar Development, Q3 2026 Press Release and Unaudited Interim Condensed Consolidated Financial Statements
Disclaimer: This article is for informational purposes only and should not be construed as investment, financial, or legal advice.
