Deyaar Development sells 50% stake in Turkey joint venture

4 February 2014

Dubai-based property firm Deyaar Development has announced the sale of its 50% stake in a joint venture in Turkey.

Its interest in Alarko Deyaar Gayrimenkul Gelistirme has been sold to its joint venture partner Alsim Alarko.

Developer Deyaar will refocus on Dubai (Wikimedia Commons)

Deyaar said it wanted to shift its focus back towards opportunities in its native Dubai. The proceeds of the sale will be reinvested in the developer’s Dubai projects, it said.

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