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Deyaar is set to construct a new 445-meter skyscraper, the 'Downtown Residences', in Dubai's Business Bay, featuring over 110 floors and 522 residential units, including an exclusive Royal Palace at the top. This project adds to the city's skyline alongside the 725-meter Burj Azizi and the 550-meter Burj Binghatti Jacob & Co. Residences. Apartment prices start at Dh1.8 million, reflecting the ongoing growth and development of Dubai's luxury real estate market.
UAE stock markets closed higher on Monday, buoyed by optimism surrounding US-China trade talks in London. Dubai’s benchmark index reached its highest level since 2008, rising 1%, with notable gains from Salik Company and Deyaar Development. Abu Dhabi's index also increased by 0.1%, supported by advances in Aldar Properties and Abu Dhabi National Energy Company, while most Gulf markets remained closed for a public holiday.
Deyaar has recently reported strong results following a successful financial restructuring that eliminated legacy losses. The company is set to begin recognizing sales from new projects in Abu Dhabi and Umm Al Quwain later this year, with construction in Umm Al Quwain expected to start soon due to minimal site preparation requirements.
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