Qatar’s Barwa Real Estate, one of the Gulf Arab state’s largest listed developers, reported a near-trebling of second-quarter net profit yesterday, according to Reuters calculations.
Barwa made a net profit of QR550mn ($151.1mn) in the three months to June 30, Reuters calculated based on previous financial statements in the absence of a quarterly breakdown.
This compares with a profit of QR193mn in the prior-year period, Reuters data shows. Barwa made a net profit of QR1.20bn in the first half of 2016, compared with QR3.45bn in the corresponding period of last year, a bourse statement showed.
Qatari Diar, a real estate-focused unit of sovereign wealth fund the Qatar Investment Authority, owns 45% of Barwa.
