Egyptian real estate firm Heliopolis Housing's third-quarter net profit slid to 29.3 million Egyptian pounds ($5.63 million), down 9.4 million pounds from a year ago, the stock exchange said on Thursday.

The profit was in the middle of two analysts' forecasts. EFG-Hermes had forecast net profit of 41 million pounds in the quarter, while CI Capital predicted 17.75 million pounds.

The company posted a net profit of 38.7 million pounds in the third quarter of 2008, the statement said without giving further details.

In spite of decline, Egyptian housing demand has remained relatively robust compared to other regional markets since the onset of the global economic crisis.

Heliopolis shares traded down 1.2 percent at 36 pounds each by the end of trading on Thursday, while the benchmark index finished down 1.5 percent. - Reuters