Deyaar Development PJSC, a Dubai-based developer, reported a net loss of Dh2.3 billion last year, compared to 2009, citing write down on the value of select assets and investments.
"Despite these write-downs and impairment provisions, Deyaar's book value per share stood at Dh0.763 as of December 31, 2010," the company said in a statement.
In 2010, Deyaar focused on strengthening its core operations, while also maintaining a conservative approach towards enhanced impairment provisions. This prudence in financial reporting positions the company to enter 2011 with a healthier balance sheet and a greater ability to respond to evolving market conditions, the company said.
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