Developer made $151.1 million in the second quarter – report
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.