Qatar Real Estate News
Barwa records 38 percent growth
The Barwa Real Estate Company in Qatar, one of the top 20 real estate developers in the Gulf region has reported a growth of 38 percent with a net profit of QR278.8mn during the first-half of the year.
The total assets of the company, worth QR24.2bn, are contributed mainly due to the geographical expansion, and the increase in value of its projects.
A representative of Barwa mentioned that despite the havoc noticed in global property markets, the impressive performance by the company is due to the ability by the company to choose the right opportunities for investments in the global and regional markets, apart from the existence of strong strategy, which aims to diversify investment portfolios and mitigating risks.
The earnings per share increased to QR1.13, marking a growth of 18.95 percent from the 2007 figure. Barwa, in which Qatari Diar Real Investment Company has a 45 percent stake, is confident about future prospects, with projects going as scheduled, said a spokesman at Barwa.
Posted on 17/8/2008