Industry: Real Estate
Company: Barwa Real Estate Company
A star of Qatar’s real estate market, Al Saad’s reputation and profile grew alongside his home state’s property boom. As head of one of the Gulf nation’s biggest developers
Barwa Real Estate
, he has overseen high-profile property developments in his domestic market, while also steering the firm into foreign markets including Libya, Switzerland and Belgium.
In a positive sign that Qatar’s defensive steps to shield its real estate sector from the effects of the global downturn are working,
recently announced net profits of $214.1m. The full-year earnings represented a 154 percent increase compared to the previous year’s full earnings, buoyed by a rise in rent revenues, revaluation of properties and the acquisition of an investment firm, the company said. The firm also added it was on track to deliver its large Village project soon as well as Masaken and Saliyah and the first phase of Al Sadd development, which would have a positive impact on its revenue. Last month, the firm received regulatory approval to acquire the Qatari developer Alaqaria.