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Deyaar walks away from Skycourts management chance

by Ben Roberts on Jun 29, 2010

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Deyaar has developments across Dubai.

Deyaar, the state-backed developer, has decided not to manage the Skycourts residential project in Dubai after a two-year association with the development.

Minutes of yesterday’s board of directors meeting reveal that the company has declined the chance to take on the Dubailand based project, which was launched by National Bonds, the UAE savings scheme.

The statement also confirmed the reappointment of auditing firm Ernst & Young.

The company is one of the largest residential and commercial developers in Business Bay, along with major projects in Dubai Marina, Silicon Oasis and along Sheikh Zayed Road.

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In July 2008, National Bonds announced that it was to transfer the development and management rights Skycourts and Flamingo Creek, another real estate development, to Deyaar, while retaining ownership.

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