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Annual General Assembly Meeting is to be held by Deyaar on April 8

Deyaar Development PJSC (Deyaar), one of Dubais leading property developers and real estate service providers, will hold an Annual General Assembly Meeting (AGM) of its shareholders on Wednesday, 8 April 2020.

In devotion to the guidelines set by the Securities and Commodities Authority (SCA), and to make sure the health and safety of its shareholders in the COVID-19 outbreak, Deyaars AGM will broadcast live online.

Shareholders wishing to attend the online AGM need to register on www.smartagm.ae within 24 hours before the meeting time, which begins at 4pm (UAE time) on 8 April. Shareholders will also be able to ask questions in the session and vote through the web or via the Lumi AGM mobile application, available on both Android and iOS platforms.

For the year ended on 31 December 2019, the company reported revenues of AED 603.7 million and a net profit of AED 71.5 million. For few years in a row, Deyaar has posted annual profits, which are the outcomes of the companys commitment to success via on-time delivery of properties and diversification of its assets, and expansion into complementary sectors such as facilities management, properties management, owners association management, and hospitality.

The meeting will offer Shareholders with an overview of the Companys performance in 2019. The meeting agenda inclusive of the standard items of AGM as per the UAE Commercial Companies Law and the Companys Article of Association in addition to the Boards suggestion to the Shareholders on the proposed capital reduction from AED 5.78 billion to AED 4.55 billion after obtaining the necessary approvals

Saeed Al Qatami, CEO of Deyaar stated: The AGM will offer our shareholders with the chance to ask questions, give feedback and make suggestions to the Board of Directors, following Deyaars currently reported for the year 2019 financial results. I look forward to welcoming our shareholders and the members of our Board of Directors to the live broadcast of the meeting on 8th April.

To access the live broadcast of AGM, shareholders should download the Lumi AGM app from the Apple App Store or Google Play. In other ways, shareholders can visit web.lumiagm.com from their smartphone, tablet or computer. If accessing Lumi AGM via the website, a compatible browser is required, such as the present versions of Chrome, Safari, Internet Explorer 11, Edge, and Firefox. Lumi AGM can be accessed by registered members.

Listed on the Dubai Financial Market and majority-owned by Dubai Islamic Bank (DIB), Deyaar is one of Dubais leading developers, with real estate ventures spanning key growth corridors and prime locations within the emirate. Over the years, Deyaar has delivered an extensive portfolio of commercial and residential properties, all providing the highest levels of service and quality.

For more information on the live broadcast of the AGM meeting, please www.smartagm.ae.

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