Qatar's largest listed property developer, Barwa Real Estate reported a profit of QR222.2 million in the first half of 2014, up from QR199.2 million in the corresponding period of 2013.

On other side , the company posted a quarterly net loss of QR42.9 million ($11.8 million) compared to a profit of 40.6 million riyals in the year-earlier period, Reuters calculated using first-half figures and previous reports.

The developer said it was working on selling one of its land assets in a medical and educational project in the city of Lusail to the government's Higher Committee for Projects and Heritage , but it didn't provide a value of the asset.

Shares in the company tumbled 8.5 percent in morning trade after the earnings announcement.