Qatar- Barwa REC Reports Net Profit of QR 752,5 Million  

(MENAFN - Qatar News Agency) Barwa Real Estate Company has disclosed the semi annual financial statements for the period ending June 30, 2011. The reviewed financial statements for the period ending June 30, 2011 revealed a net profit of QR 752,5 million in comparison to QR 498,4 million for the same period last year. The Company''s Earning per Share (EPS) amounted to QR 1.93 as of June 30, 2011 versus QR 1.28 for the corresponding period in 2010. Barwa is the largest listed real estate company in Qatar in terms of real estate developments, and has a total asset capitalization of approximately QR 38 billion.

Barwa was incorporated in the State of Qatar on the 15th of November, 2005 based on a resolution issued by the Ministry of Economy and Commerce (Government of Qatar) on 15th November 2003. The Company was incorporated as a public shareholding company and is governed by the provisions of the Qatar Commercial Companies'' Law. Barwa commenced commercial operations on19th January 2006.