{"id":13877,"date":"2019-10-24T06:09:39","date_gmt":"2019-10-24T06:09:39","guid":{"rendered":"https:\/\/onplan.ae\/deyaar-incurs-aed-1-54bn-accumulated-losses-in-q3\/"},"modified":"2019-10-24T06:09:39","modified_gmt":"2019-10-24T06:09:39","slug":"deyaar-incurs-aed-1-54bn-accumulated-losses-in-q3","status":"publish","type":"post","link":"https:\/\/onplan.ae\/ar\/deyaar-incurs-aed-1-54bn-accumulated-losses-in-q3\/","title":{"rendered":"Deyaar incurs AED 1.54bn accumulated losses in Q3"},"content":{"rendered":"<div>\n<p><strong>Dubai \u2013 Mubasher:<\/strong> <a href=\"https:\/\/english.mubasher.info\/markets\/DFM\/stocks\/DEYAAR\">Deyaar Development<\/a>, listed on the Dubai Financial Market (DFM), announced it has suffered accumulated losses of AED 1.540 billion during the third quarter of 2019.<\/p>\n<p>The company attributed incurring accumulated losses during Q3-19 to the provision for Impairment of assets based on Dubai\u2019s real estate market situation recorded in 2019, according to a bourse filing.<\/p>\n<p>Moreover, the International Financial Reporting Standard 9 (IFRS 9) the company applied in 2018 has resulted in provisions for certain assets totalling AED 661 million that were registered in the opening balance of accumulated losses as at 1 January 2018.<\/p>\n<p>Over the past years, Deyaar has taken a number of measures to offset accumulated losses, including working on the completion of all existing projects and launching new projects, as well as boosting the company\u2019s portfolio of assets.<\/p>\n<p>The company now has three projects in the hospitality sector that will help revenue growth in the coming years.<\/p>\n<p>The DFM-listed firm also plans to keep launching quality projects and to diversify its sources of income through property and facilities management services.<\/p>\n<p>It is worth noting that Deyaar previously reported it <a href=\"https:\/\/english.mubasher.info\/news\/3545446\/Deyaar-posts-AED-53m-net-profit-in-9M\">has logged<\/a> a net profit of AED 53 million for the nine-month period ended 30 September of 2019.<\/p>\n<p>The company\u2019s revenues increased by 3.6% to AED 483.3 million for the January-September period of 2019, versus AED 466 million in the corresponding period of 2018.<\/p>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"<div>\n<p><strong>Dubai \u2013 Mubasher:<\/strong> <a href=\"https:\/\/english.mubasher.info\/markets\/DFM\/stocks\/DEYAAR\">Deyaar Development<\/a>, listed on the Dubai Financial Market (DFM), announced it has suffered accumulated losses of AED 1.540 billion during the third quarter of 2019.<\/p>\n<p>The company attributed incurring accumulated losses during Q3-19 to the provision for Impairment of assets based on Dubai\u2019s real estate market situation recorded in 2019, according to a bourse filing.<\/p>\n<p>Moreover, the International Financial Reporting Standard 9 (IFRS 9) the company applied in 2018 has resulted in provisions for certain assets totalling AED 661 million that were registered in the opening balance of accumulated losses as at 1 January 2018.<\/p>\n<p>Over the past years, Deyaar has taken a number of measures to offset accumulated losses, including working on the completion of all existing projects and launching new projects, as well as boosting the company\u2019s portfolio of assets.<\/p>\n<p>The company now has three projects in the hospitality sector that will help revenue growth in the coming years.<\/p>\n<p>The DFM-listed firm also plans to keep launching quality projects and to diversify its sources of income through property and facilities management services.<\/p>\n<p>It is worth noting that Deyaar previously reported it <a href=\"https:\/\/english.mubasher.info\/news\/3545446\/Deyaar-posts-AED-53m-net-profit-in-9M\">has logged<\/a> a net profit of AED 53 million for the nine-month period ended 30 September of 2019.<\/p>\n<p>The company\u2019s revenues increased by 3.6% to AED 483.3 million for the January-September period of 2019, versus AED 466 million in the corresponding period of 2018.<\/p>\n<\/p><\/div>","protected":false},"author":1,"featured_media":13878,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[947],"tags":[],"class_list":["post-13877","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-results"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/posts\/13877","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/comments?post=13877"}],"version-history":[{"count":0,"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/posts\/13877\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/media\/13878"}],"wp:attachment":[{"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/media?parent=13877"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/categories?post=13877"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/tags?post=13877"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}