Barwa swings to Q2 loss

July 26, 2014 4:17 am

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.