Deyaar in portfolio doubling plan

Deyaar CEO Markus Giebel

Property developer Deyaar has announced plans to double the size of its property management portfolio over the next five years.

The firm currently manages over 16,000 units in the UAE and plans to expand its reach across the country, while maintaining Dubai as its core market.

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.

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“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,” he added.

Giebel also expressed confidence in the UAE’s real estate sector. “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,” he said.