Deyaar Development on Saturday reported a 25 per cent surge in its first quarter net income as revenues climbed for the Dubai-listed real estate company on the back of project deliveries.
Net income for the three months to the end of March advanced to Dh40 million, from Dh32m reported for the year-earlier period, the company said in a statement. Revenues also recorded a 25 per cent year-on-year jump, to more than Dh176m, up from Dh142m reported for the first three months of 2017, it said.
The company’s “steady performance in the first quarter” is reflected in higher revenues and a rise in profitability, Saeed Al Qatami, the chief executive of Deyaar, said. “During the first three months of 2018, Deyaar has made major headway in its iconic projects,” he noted.
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Read more:
Deyaar profit drops sharply without 2016's one-off gains
Deyaar sees profits and revenue improving in second half
Deyaar nine-month profit plunges 40 per cent
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Developers have struggled to maintain profitability in recent years as softer market conditions, an economic slowdown and a supply glut pushed the rental and sales values of properties lower. The market is expected to stabilise this year and likely recover in 2019 as major infrastructure projects near completion, Dubai Land Department said on Saturday. Dubai recorded Dh58bn worth of sales transaction during the first quarter of 2018, the DLD said, without giving a comparative figure for the first quarter of 2017.
Deyaar, which is majority owned by the emirate’s top Sharia-complaint lender Dubai Islamic Bank, said its board last week also discussed its capital position and structure, and requested the management to carry out the required studies and present them to the board for discussion in the next meeting. It did not provide further details regarding the capital requirements or structures in the bourse filing.
The company, which has recently handed over the Mont Rose project, is making progress on The Atria, Midtown, and Millennium Deyaar Hotel & Apartments in Al Barsha area. It expects to deliver The Atria in the second quarter of 2018, it said.
Contracted list
Ashton Agar, Alex Carey, Pat Cummins, Aaron Finch, Peter Handscomb, Josh Hazlewood, Travis Head, Usman Khawaja, Nathan Lyon, Glenn Maxwell, Shaun Marsh, Mitchell Marsh, Tim Paine, Matt Renshaw, Jhye Richardson, Kane Richardson, Billy Stanlake, Mitchell Starc, Marcus Stoinis, Andrew Tye.
MATCH RESULT
Liverpool 4 Brighton and Hove Albion 0
Liverpool: Salah (26'), Lovren (40'), Solanke (53'), Robertson (85')
BlacKkKlansman
Director: Spike Lee
Starring: John David Washington; Adam Driver
Five stars
Brief scoreline:
Crystal Palace 2
Milivojevic 76' (pen), Van Aanholt 88'
Huddersfield Town 0
%20Ramez%20Gab%20Min%20El%20Akher
%3Cp%3E%3Cstrong%3ECreator%3A%3C%2Fstrong%3E%20Ramez%20Galal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Ramez%20Galal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStreaming%20on%3A%20%3C%2Fstrong%3EMBC%20Shahid%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2.5%2F5%3C%2Fp%3E%0A
Packages which the US Secret Service said contained possible explosive devices were sent to:
- Former first lady Hillary Clinton
- Former US president Barack Obama
- Philanthropist and businessman George Soros
- Former CIA director John Brennan at CNN's New York bureau
- Former Attorney General Eric Holder (delivered to former DNC chair Debbie Wasserman Schultz)
- California Congresswoman Maxine Waters (two devices)
UAE squad v Australia
Rohan Mustafa (C), Ashfaq Ahmed, Chirag Suri, Rameez Shahzad, Fahad Nawaz, Amjed Gul, Shaiman Anwar, Ahmed Raza, Imran Haider, Muhammad Naveed, Amir Hayat, Ghulam Shabir (WK), Qadeer Ahmed, Tahir Latif, Zahoor Khan
Lewis Hamilton in 2018
Australia 2nd; Bahrain 3rd; China 4th; Azerbaijan 1st; Spain 1st; Monaco 3rd; Canada 5th; France 1st; Austria DNF; Britain 2nd; Germany 1st; Hungary 1st; Belgium 2nd; Italy 1st; Singapore 1st; Russia 1st; Japan 1st; United States 3rd; Mexico 4th
AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street
The seven points are:
Shakhbout bin Sultan Street
Dhafeer Street
Hadbat Al Ghubainah Street (outbound)
Salama bint Butti Street
Al Dhafra Street
Rabdan Street
Umm Yifina Street exit (inbound)
LEADERBOARD
%3Cp%3E-19%20T%20Fleetwood%20(Eng)%3B%20-18%20R%20McIlroy%20(NI)%2C%20T%20Lawrence%20(SA)%3B%20-16%20J%20Smith%3B%20-15%20F%20Molinari%20(Ita)%3B%20-14%20Z%20Lombard%20(SA)%2C%20S%20Crocker%20(US)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESelected%3A%20%3C%2Fstrong%3E-11%20A%20Meronk%20(Pol)%3B%20-10%20E%20Ferguson%20(Sco)%3B%20-8%20R%20Fox%20(NZ)%20-7%20L%20Donald%20(Eng)%3B%20-5%20T%20McKibbin%20(NI)%2C%20N%20Hoejgaard%20(Den)%3C%2Fp%3E%0A
First Person
Richard Flanagan
Chatto & Windus
The specs
Engine: 3.8-litre, twin-turbo V8
Transmission: eight-speed automatic
Power: 582bhp
Torque: 730Nm
Price: Dh649,000
On sale: now
The specs
The specs: 2019 Audi Q8
Price, base: Dh315,000
Engine: 3.0-litre turbocharged V6
Gearbox: Eight-speed automatic
Power: 340hp @ 3,500rpm
Torque: 500Nm @ 2,250rpm
Fuel economy, combined: 6.7L / 100km
Heather, the Totality
Matthew Weiner,
Canongate
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Qosty Byogaani
Starring: Hani Razmzi, Maya Nasir and Hassan Hosny
Four stars
RESULTS
West Asia Premiership
Thursday
Jebel Ali Dragons 13-34 Dubai Exiles
Friday
Dubai Knights Eagles 16-27 Dubai Tigers
Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
The specs: 2017 Maserati Quattroporte
Price, base / as tested Dh389,000 / Dh559,000
Engine 3.0L twin-turbo V8
Transmission Eight-speed automatic
Power 530hp @ 6,800rpm
Torque 650Nm @ 2,000 rpm
Fuel economy, combined 10.7L / 100km
if you go
The flights
Direct flights from the UAE to the Nepalese capital, Kathmandu, are available with Air Arabia, (www.airarabia.com) Fly Dubai (www.flydubai.com) or Etihad (www.etihad.com) from Dh1,200 return including taxes. The trek described here started from Jomson, but there are many other start and end point variations depending on how you tailor your trek. To get to Jomson from Kathmandu you must first fly to the lake-side resort town of Pokhara with either Buddha Air (www.buddhaair.com) or Yeti Airlines (www.yetiairlines.com). Both charge around US$240 (Dh880) return. From Pokhara there are early morning flights to Jomson with Yeti Airlines or Simrik Airlines (www.simrikairlines.com) for around US$220 (Dh800) return.
The trek
Restricted area permits (US$500 per person) are required for trekking in the Upper Mustang area. The challenging Meso Kanto pass between Tilcho Lake and Jomson should not be attempted by those without a lot of mountain experience and a good support team. An excellent trekking company with good knowledge of Upper Mustang, the Annaurpuna Circuit and Tilcho Lake area and who can help organise a version of the trek described here is the Nepal-UK run Snow Cat Travel (www.snowcattravel.com). Prices vary widely depending on accommodation types and the level of assistance required.
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
'Panga'
Directed by Ashwiny Iyer Tiwari
Starring Kangana Ranaut, Richa Chadha, Jassie Gill, Yagya Bhasin, Neena Gupta
Rating: 3.5/5
The Bio
Hometown: Bogota, Colombia
Favourite place to relax in UAE: the desert around Al Mleiha in Sharjah or the eastern mangroves in Abu Dhabi
The one book everyone should read: 100 Years of Solitude by Gabriel Garcia Marquez. It will make your mind fly
Favourite documentary: Chasing Coral by Jeff Orlowski. It's a good reality check about one of the most valued ecosystems for humanity
