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FINANCIAL NEWS
Qatar’s Barwa records USD763m net profit in 2014
30 Mar 2015
(MENAFN) Doha-based Barwa, the real estate firm, logged a USD763 million net profit in 2014, driven by earnings from income on properties’ sales and improved cost management, Gulf Times reported.
However, net rental and profit from lease funding increased by 9 percent, hitting USD348.56 million. Net consultancy income also increased by 11 percent and reached USD32.67 million.
Income from properties’ sale increased to USD804.17 million against the USD261,836 in 2013. Total equity rose to USD4.36 billion over a capital worth USD1.06 billion at the end of 2014.
“Barwa is continuing its strategic analysis of development opportunities with various business models with government and private companies to ensure a promising investment prospects,” Barwa’s chairman said.
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