Taking a giant step forward towards achieving its strategic growth plans, Deyaar, Dubai’s fastest growing real-estate company, has announced plans to launch an Initial Public Offering (IPO). The company has applied to the Ministry of Economy to launch the IPO in the first half of 2007, subject to all regulatory approval.

Highlighting Deyaar’s core strengths, Dr. Mohammed Khalfan Bin Kharbash, Chairman of Deyaar and UAE Minister of State of Finance and Industry, said, “Deyaar’s dynamic growth has been driven by its thorough understanding of the customer’s requirements and the dynamics of the property market.”

Deyaar, a fully owned subsidiary of Dubai Islamic Bank and following Shariah principles, is a leading local and regional real estate developer, based in the UAE. Since the full scale launch of its operations in 2003, Deyaar has evolved as UAE’s largest non-master developer. Deyaar has over 17 residential and commercial projects across UAE, Lebanon and Turkey. Projects are also planned in Kazakhastan and India. Deyaar manages the largest portfolio of third party properties with over 16,000 units in UAE; it also offers professional brokerage services to its customers, making it a one-of-its-kind property player in the country. SHUAA Capital has been appointed as Lead Manager, Financial Advisor, and Book runner; while Millennium Finance Corporation has been appointed as the Co-lead Manager for the IPO.