handovers push profit rise at abu dhabi’s sorouh
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice
Emiratesvoice, emirates voice
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

Handovers push profit rise at Abu Dhabi’s Sorouh

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice Handovers push profit rise at Abu Dhabi’s Sorouh

Abu Dhabi - Arabstoday

Sorouh Real Estate, Abu Dhabi\'s second-largest developer by market value, posted a 13.4 percent rise in third-quarter net profit aided by higher handovers and increased rental income but the results missed analyst\'s forecasts. Abu Dhabi\'s second largest developer by market value posted a net profit of AED67.3m ($18.3m) compared with AED59.3m in the same quarter last year, it said in a statement on the Abu Dhabi bourse. Analysts forecast average net profit AED129.6m net profit for the third quarter. The developer\'s third-quarter revenues more than doubled to AED890.4m compared with AED387.8m in the same period in 2010. That was offset by a surge in cost of revenue which increased to AED720.4m as against AED196m for the year earlier period. \"We continue to see pick-up in sales and leasing demand during the period, partly driven by our innovative lease to own and rent to own products,\" Abubaker Seddiq Al Khouri, Soruouh\'s managing director said in the statement. Most Abu Dhabi developers have been focusing on completion and delivery of existing projects after suffering big losses during the global financial crisis, which put an end to a six-year construction boom. Sorouh said earlier this month that it expects projects awarded by the government to be a core part of its developments in the short term. Abu Dhabi\'s real estate market may see an additional 11,000 homes in the fourth quarter, a report by property consultants Jones Lang LaSalle said. Sorouh shares have lost 40 percent of its value so far this year.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

handovers push profit rise at abu dhabi’s sorouh handovers push profit rise at abu dhabi’s sorouh

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

handovers push profit rise at abu dhabi’s sorouh handovers push profit rise at abu dhabi’s sorouh

 



GMT 11:03 2018 Tuesday ,23 January

No end to eyesores at Taj Mahal

GMT 10:18 2018 Thursday ,30 August

Iran incapable of closing Hormuz, Bab Al Mandeb

GMT 10:31 2014 Tuesday ,23 December

Mirages of failure: Lebanon cannot wait

GMT 04:53 2016 Monday ,16 May

English Premier League results

GMT 05:06 2024 Tuesday ,06 February

New hunt for flight MH370 gets under way

GMT 06:15 2018 Tuesday ,23 January

Volkswagen clinches record sales

GMT 13:13 2016 Wednesday ,14 December

Unarmed old man killed by police in California

GMT 15:00 2017 Wednesday ,08 March

1 killed, 2 missing due to Avalanche in French Alps

GMT 12:07 2017 Saturday ,25 February

Renault’s R.S.17 features Infiniti co-built ERS

GMT 12:52 2017 Saturday ,04 November

Belgium 'to study' Spain's EU warrant for Catalan leader

GMT 08:40 2017 Wednesday ,01 November

Miss Morocco launch her first charity program

GMT 16:26 2016 Friday ,04 November

All Black brothers in arms ready for rare double

GMT 08:21 2017 Saturday ,30 September

Al Sayed underlines economic improvement

GMT 10:27 2017 Wednesday ,13 December

Strikes kill 12 in rebel-run Yemen prison camp

GMT 10:52 2017 Saturday ,14 October

NGOs slam UN aviation agency plan
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice