Abu Dhabi's Sorouh Real Estate reported a 54.5 percent rise in third-quarter net profit on Wednesday and said no decision has been taken so far about its proposed merger with rival Aldar Properties.
The second largest developer by market value in Abu Dhabi said it had net consolidated profit of 129.2 million dirhams ($35.2 million), up from 83.6 million dirhams in the prior-year period, it said in a statement on Abu Dhabi's bourse.
Income was boosted after Sorouh reversed 40 million dirhams in contingency provisions for its Sun and Sky towers, which have been completed.
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