Abu Dhabi – Mubasher: Eshraq Properties achieved a surge of 1,828% in profits during the third quarter of 2018 compared to the corresponding period in 2017.

Earnings jumped to AED 13.5 million in Q3-18 from AED 0.7 million in Q3-17, according to a bourse filing on Monday.

The Abu Dhabi Securities Exchange-listed Eshraq Properties reported an increase of 7% in profits to AED 28.2 million in the nine-month period in 2018 compared to AED 0.7 million in the corresponding period in 2017.

The growth in 9M-profits is attributed to an increase in the asset fair value to AED 21.4 million this year when compared to AED 1.2 million in 9M-17.