Barwa Real Estate Group ranked 6th in the 2019 top 50 listed property companies in the Middle East, according to a report published by Forbes Middle East magazine.
The ranking featured the top 50 companies listed on the region’s stock exchange, ranked by market value as of October 2, 2019, the group said in a statement yesterday.
Barwa Real Estate deputy chairman & managing director Issa Mohamed al-Mohannadi said, “Barwa Real Estate is one of the largest Qatari companies in the field of real estate development. The diverse investments which Barwa carries out to fulfil the needs of the local market is the key for its success.
“The group always considers the needs and aspirations of the Qatari society and views the national vision as the compass that determines the direction of its current and upcoming plans. Barwa will continue its efforts as the strategic partner of the Qatari government”.
Barwa Real Estate Group is a leading developer and operator of multiple realty asset-classes in Qatar and the Middle East region. As a fundamental contributor to the development of Qatar, the group primarily focuses on projects that serve the country’s requirement and meet the framework as set out in Qatar National Vision 2030.
The group enjoys a well-balanced portfolio of income generating annuity assets in residential, commercial, mixed-use, and hospitality. The group owns more than 3.5mn sq m (built up area) of operating assets, with a local land bank of more than 5.2mn sq m.
Barwa serves broad range of stakeholders and clients, creating enduring demand and driving long-term performance. The group subscribes to strong emphasis in operational excellence, good governance, and value creation.
The total assets of Barwa Real Estate amounted to QR31.5bn with an increase of QR1.1bn compared to the total assets in December 2018, while net profit amounted to QR804mn with earnings per share at QR0.21 for the period ended September 30, 2019.
Forbes Middle East report also included the names of other Qatari companies aside Barwa Real Estate, which shows the rapid growth and strong performance of the real estate sector in Qatar.
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