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Rahul Preeth
Doha
The Barwa Real Estate Group’s operational efficiency has improved with the occupancy rate of most of its current projects exceeding 95 percent, said group Chairman and Minister of Culture and Sports HE Salah bin Ghanem bin Nasser al Ali.
He was addressing shareholders at the group’s ordinary general assembly meeting held in Doha on Wednesday.
Noting that the group maintained an available cash balance of QR1.04 billion at the end of last year, the chairman said it has started the operations of phase two of the Madinat Al Mawater and the Barwa Village Extension projects.
The group’s real estate portfolio has grown to include 7,232 residential units, 12,706 worker rooms, 295,891 square meters of shops, showrooms and offices and 260,959 square metres of workshops and warehouses, he said.
Expansion of the Al-Khor sports facilities, completion of the affordable housing project for laborers on Salwa Road, the Dara A residential project at Fox Hills Zone in Lusail City and phase nine of Al Khor projects are other notable achievements of the group last year.
The general assembly later approved the distribution of QR2.5 per share as dividend. In 2018, the group has achieved a 12 percent jump in its net profit of QR191 billion, translating to earnings per share of QR4.92. The period also saw the group’s rental income going up by QR27 million to QR1.27 billion.
Discussing future plans, the assembly decided to press ahead with the group’s objective of developing new projects that meet the needs of Qatar in different real estate sectors. The shareholders also approved measures to develop and diversify the group’s real estate portfolio and improve the performance of existing operational projects.
Doha
The Barwa Real Estate Group’s operational efficiency has improved with the occupancy rate of most of its current projects exceeding 95 percent, said group Chairman and Minister of Culture and Sports HE Salah bin Ghanem bin Nasser al Ali.
He was addressing shareholders at the group’s ordinary general assembly meeting held in Doha on Wednesday.
Noting that the group maintained an available cash balance of QR1.04 billion at the end of last year, the chairman said it has started the operations of phase two of the Madinat Al Mawater and the Barwa Village Extension projects.
The group’s real estate portfolio has grown to include 7,232 residential units, 12,706 worker rooms, 295,891 square meters of shops, showrooms and offices and 260,959 square metres of workshops and warehouses, he said.
Expansion of the Al-Khor sports facilities, completion of the affordable housing project for laborers on Salwa Road, the Dara A residential project at Fox Hills Zone in Lusail City and phase nine of Al Khor projects are other notable achievements of the group last year.
The general assembly later approved the distribution of QR2.5 per share as dividend. In 2018, the group has achieved a 12 percent jump in its net profit of QR191 billion, translating to earnings per share of QR4.92. The period also saw the group’s rental income going up by QR27 million to QR1.27 billion.
Discussing future plans, the assembly decided to press ahead with the group’s objective of developing new projects that meet the needs of Qatar in different real estate sectors. The shareholders also approved measures to develop and diversify the group’s real estate portfolio and improve the performance of existing operational projects.
