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Sorouh’s Q3 net profit climbs 13%

Abu Dhabi's second-largest developer by market value, Sorouh Real Estate has said its third quarter net profit rose 13.4% due to higher handovers and increased rental income, Reuters has reported. The company posted a net profit of Dhs67.3m ($18.3m) compared with 59.3m in the same quarter last year. The developer's third-quarter revenues more than doubled to Dhs890.4m from Dhs387.8m in the same period in 2010.