(MENAFN) Despite recording higher revenue during the third-quarter of the year, Dubai developer Deyaar reported a drop in third-quarter profit due to higher operating costs.
While revenue rose 54.7 percent to Dh195.32 million from Dh126.25 million of the same period last year, Three-month profit to September declined 41 percent to Dh33.3 million from Dh56.49 million a year ago.
Deyaar's direct operating costs went up 44.46 percent to Dh120.72 million from Dh83.56 million in the third quarter.
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