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Barwa Real Estate earns less as Qatar property market cools down
- Qatar: Tuesday, April 30 - 2013 at 14:22
The QE 20 Index surged 0.20% to hit 8,677.10 points Monday mostly driven by gains in the industrials sector. Industries Qatar, the market heavyweight, gained 1.90% to hit QR172. Barwa Real Estate Company posted the second biggest day-loss, diving 3.44% to QR23.55. Earlier in the day, Barwa said that in the first quarter this year it earned a net profit of QR158.5m in comparison to QR292.5m for the corresponding period in 2012. According to real estate service firm Asteco, property sales activity saw a 2% increase in the total value of transactions recorded in the first three months of the year, "despite a corresponding 2% dip in sales volume across all sectors against Q4 2012 figures." Asteco added in an assessment published Monday, that the total value of transactions for apartment blocks in Qatar fell by 56% in Q1 versus the final quarter of last year.
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Gérard Al-Fil, Financial JournalistTuesday, April 30 - 2013 at 14:22 UAE local time (GMT+4)
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