Property

Qatar’s Barwa Real Estate sees Q2 profit nearly treble

Developer made $151.1 million in the second quarter – report

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Qatar’s Barwa Real Estate almost trebled its profits during the second quarter of 2016, according to Reuters.

The Doha-listed developer made a net profit of 550 million riyals ($151.1 million) in the three months to June 30, compared to 193 million riyals a year ago, the news agency reported.

Barwa is behind developments such as Barwa City and the Oryx Island proposal, according to information on its website. It is 45% owned by the Qatari Diar sovereign wealth fund.

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