Company says it made a quarterly profit of more than $23m in the three months to June 30
Dubai's Deyaar Development recorded a 37.5 percent increase in second-quarter net profit, according to a statement from the real estate firm on Monday.
Deyaar, one of the companies worst hit by Dubai's property market collapse in 2009-2011, made a quarterly profit of AED85.8 million ($23.4 million) in the three months to June 30.
This compares with a profit of AED62.4 million in the corresponding period of 2014.
SICO Bahrain forecast the developer would make a quarterly net profit of AED41.3 million.
Deyaar did not provide any details of its financial results in its statement, except for the quarterly profit figure.