Sorouh Records Third Quarter Profit Of Dh187mThursday, October 29, 2009
 Abu Dhabi-based Sorouh Real Estate recorded a third-quarter net profit of Dh187.3 million ($50.99 million), down 75 per cent from the year-ago quarter, but said it saw signs of stabilization in the market. The emirate's second-largest developer by market capitalization made a net profit attributable to shareholders of Dh765.2 million in the third quarter of 2008. Managing Director Abu Baqer Al Khouri said in a statement demand would likely exceed supply in Sorouh's core market of Abu Dhabi for some years to come. "Whilst the real estate market is likely to remain challenging in the near future we remain cautiously optimistic over signs that the market is stabilizing, as the number of sales enquiries increase, especially in the secondary market,” Al Khouri said. Sorouh made a nine-month net profit of Dh461 million, according to a statement posted on the bourse website. Source: Gulf News
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