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Barwa swings to Q2 loss

: Saturday, July 26 - 2014 @ 04:17

Qatari developer, Barwa Real Estate has swung to a second-quarter net loss of QR42.9m ($11.8m), compared with a profit of QR40.6m in the year-earlier period, Reuters has reported. The country’s largest listed property developer made a profit of QR222.2m in the first half of 2014, up from QR199.2m in the corresponding period of 2013. Barwa, 45% owned by Qatari Diar, the real estate arm of the Gulf country’s sovereign wealth fund, notched up liabilities of about QR37bn at the end of 2012 because of overexpansion.

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Saturday, July 26- 2014 @ 4:17 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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