Dubai developer Deyaar on Monday reported a jump in its third-quarter net profit, on the back of renewed optimism in the emirate's real estate market.

Deyaar, one of the companies worst hit by Dubai's real estate market collapse in 2009-2010, made a net profit of 40.5 million dirhams ($11 million) compared with 5.1 million dirhams in the corresponding period of 2012.

One analyst at SICO Bahrain had forecast a third-quarter profit of 14.1 million dirhams. - Reuters