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

To contact the editor responsible for this story: Inal Ersan at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.