1. More than 16,000 units currently managed by Deyaar; over 95 per cent occupancy across portfolio
2. Company to focus on expanding geographical reach across seven emirates; Dubai to continue as core market
Further consolidating its position as the property manager of choice in the UAE and in line with the company’s strategy to diversify its revenue base, Deyaar Development PJSC, a regional real estate company dedicated to innovation, customer care and long-term sustainable growth, today announced that it will double the size of its property management portfolio in the next five years.
Deyaar, a principal player in property development and management in the UAE, currently manages over 16,000 commercial and residential properties in the emirates, with over 95 per cent occupancy.
“Since the past year, Deyaar has been working with a long-term strategy of diversifying its income streams, and our planned expansion in property management is in line with this overall strategy,†said Markus Giebel, Chief Executive of Deyaar. “Deyaar’s property management division has seen a marked evolution since its inception, transforming from an institutional property manager focused on the management of Deyaar properties to a large, multi-client manager of premium and mid-range properties across the UAE.
“Over the course of this period, the company has not only efficiently managed its portfolio, as demonstrated in the high occupancy rate, but also helped property owners to optimise the return on their assets,†he added.
“We believe this is an opportune time for the company to further build on its success and accumulated knowledge by targeting new landlords and restoring the confidence of real estate investors in the region,†Giebel said. “The long-term fundamentals of the UAE real estate sector remain unshaken, and we continue to see tremendous scope for Deyaar to expand its geographical reach across the seven emirates.â€
About Deyaar:
Deyaar Development PJSC is one of the fastest growing real estate companies in the region. Headquartered in Dubai, the company has grown significantly since its inception to evolve into a complete one-stop real estate solutions provider. Today, Deyaar stands at the forefront of the regional real estate sector, with interests in real estate development, property and facilities management, marketing and sales. Deyaar’s strategic solutions and deep market insights have helped create exceptional value for its investors. The company currently manages over 16,000 commercial and residential properties. Its operations are divided across four key business units, vis-à -vis, property development, lease management, asset management, and fund management divisions. Deyaar is well positioned to play a pivotal role in the development of the region’s property landscape. The company complies with the Escrow legislation and all relevant property laws in the UAE. Deyaar is registered with the Real Estate Regulatory Authority under reference number 15/07.
