DUBAI, July 23 Dubai-based property developer
Deyaar said on Wednesday its second-quarter net profit
more than doubled, buoyed by the launch of its hotel apartment
Deyaar made a quarterly consolidated net profit of 62.5
million dirhams ($17 million) compared with 27.3 million dirhams
in the corresponding period in 2013.
SICO Bahrain had estimated the company would make a
first-quarter profit of 36.5 million dirhams.
In April, the developer launched sales of hotel apartments
at its project "The Atria" in the Business Bay area, which
neighbours the emirate's most popular area of Downtown Dubai,
housing the world's largest tower Burj Khalifa.
($1 = 3.6728 United Arab Emirates Dirhams)
(Reporting by Nadia Saleem; Editing by Olzhas Auyezov)