Barwa Real Estate's Net Profit Up 68% In Q114
News: Qatar-based Barwa Real Estate Group has posted a 68% year-on-year (y-o-y) increase in its net profit to QAR266mn (USD73mn) in Q114 ended March 31, compared with QAR158mn (USD43.3mn) in the same period of 2013. Rental revenue increased 56% y-o-y in Q114, while operational costs rose 33% only to meet the increase in rental revenue. The company continues to implement its strategy aimed at improving operations proficiency and accordingly reducing costs and expenses, which is represented in lowering general and administration costs by 28%.
BMI View : The real estate boom in Qatar continues unabated as the country's leading real estate firms shrug off global macroeconomic volatility and regional political upheaval. Strong consumer confidence and stable inflation bode well for retail growth, which is the segment likely to perform best in Qatar's real estate rental sector.