Qatar Real Estate Investment (Alaqaria), which is being merged with Barwa Real Estate, said its 2009 net profit fell 31.2%.

Alaqaria said net profit declined to 214.2 million riyals ($58.88m) from 311.4 million riyals in 2008. It gave no reason for the fall.

Executives at the company were not immediately available for comment.arabianbusiness.com