Barwa Real Estate reports QR533m net profit for first half – MENAFN.COM

Barwa Real Estate reports QR533m net profit for first half – MENAFN.COM

Doha: Barwa Real Estate Group, the leading real estate and Investment Company in Qatar and the region, reported QR533m net profit for the period ending on June 30, 2021. The total assets of the Group exceeded the value of QR35bn, and the total equity of the shareholders of the parent company exceeded the value of QR20bn. As a result of the Group's success in developing a balanced real estate portfolio that helps to face market fluctuations and despite the effects of the Corona pandemic on the global economy, the Group has succeeded in strengthening rental income and increasing it by 41 percent, which is a large percentage in light of the challenges witnessed by the real estate market and it reflects the size of planning and the effort made at all levels within the Group to promote the sustainable growth of operating revenues. The company also succeeded in rationalizing its various expenses, which led to a decrease in general and administrative expenses by 34 percent and also a decrease in net financing costs by 8 percent, which contributed to an increase in the net cash income of the Group for the period, and in a way that supports her financial