Abu Dhabi-based Sorouh Real Estate has posted a huge dip of 75% in its third-quarter net profit which stood at Dh187.3 million.

The emirate’s second-major developer by market capitalization had recorded a net profit of Dh765.2 million in the latest three month period of 2008.

As per sources demand would likely exceed supply in Sorouh's core market of Abu Dhabi for some years to come.

Sorouh has registered a nine-month net profit of Dh461 million.

Shares in Sorouh have surged 21% so far in current year after falling 64 per cent in 2008.