Qatari Barwa Real Estate net profit hits USD585m in Q4

09 Mar 2015

(MENAFN) Qatari largest listed developer, Barwa Real Estate recorded a net profit of USD585 million in the fourth quarter of 2014, almost double the sum accumulated year-on-year, Reuters reported.

As a unit of the sovereign wealth fund’s real estate arm, Barwa’s fourth quarter net profit increased from the USD249.09 million logged a year ago, according to Reuters’ calculations.

The firm earned USD76.85 million for the full year of 2014, compared with USD38.42 million in 2013, according to the bourse filing. Barwa also said its board recommended a cash dividend of 0.6 dollar per share for 2014.

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