Qatar’s real estate construction and development company Barwa Real Estate has announced in a short bourse statement that its net profits value rose by 10 percent reaching 3.06 billion riyals last year compared to 2.74 billion riyals in 2014.
Barwa’s board recommended distributing dividends of 2.2 riyals per each share which is the same payment as last year.
Despite the rising profits value, the company registered a remarkable loss of 518 million riyals, which is equivalent to 142.3 million dollars, in the last quarter.
Barwa Real Estate announced this month its intent to invest in Turkey. The company has allocated $500 million for its new investment in Turkish real estate.
It’s worth mentioning that Barwa has partnerships with many local real estate companies in Turkey like Sinbas and Zevtinburnu.