Deyaar Gains Most Since August After Dubai Property Developer Posts Profit

Deyaar Development (DEYAAR) PJSC gained the most in almost three months after the property developer reported a nine-month profit after making a loss a year ago.

The shares surged 5.1 percent, the most intraday gain since Aug. 11, to 24.6 fils at 10:56 a.m. in Dubai. The benchmark DFM General Index was little changed. There are 100 fils to the dirham.

Deyaar said it made a nine-month net income of 45 million dirhams ($12.3 million) after a loss of 489 million dirhams in the same period a year earlier, according to a statement to the Dubai bourse after the market closed yesterday.

To contact the reporter on this story: Alaa Shahine in Dubai at asalha@bloomberg.net

To contact the editor responsible for this story: Inal Ersan at iersan@bloomberg.net

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