Barwa reports QR 1.2 Billion in net profit

Barwa Real Estate has disclosed the preliminary financial statements for the year ended December 31, 2011.  The financials revealed a net profit of QR 1.285.801 in 2011 versus QR 1.411.092 in 2010, the company said in a statement published on (Qatar Exchange) website.  The company's EPS amounted to QR 3.22 in 2011 compared to QR 4.04 in 2010.  The Board recommended distribution of Cash Dividends to the shareholders for the year 2011 of 10% from the par value, QR 1 for each share.   Barwa's foundations were laid on 15 November 2005 when it obtained its commercial license. Barwa began operations on 19 January 2006.  With a shareholding of 45% by Qatari Diar (a company owned by the Qatar Investment Authority) 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 74 billion as of 31 December 2010. In 2010 turnover of its shares represented almost 11.25 % of total turnover of shares listed by the Qatar Exchange.