Qatari real estate developer Ezdan Holding has reported a nine-month net profit of QR1.29 billion ($354 million) this year, up 5.8 per cent over QR1.22 billion ($335 million) for the same period last year, according to a post on the company’s website.

“We have demonstrated the ability to face challenges and overcome obstacles at the local and international level,” said group chairman Dr. Sheikh Khalid bin Abdullah Al Thani.

Group chief executive Ali Mohammed Al Obaidli pointed out that this year has witnessed the realisation of strategic goals the company had set over the past years.

Al Obaidli added that the group had achieved growth with the advancement in its mega real estate project, Ezdan Oasis, which is nearly 60% complete.

The multi-purpose project, which will provide more than 9,000 residential units, will further promote the Al Wakrah and Al Wukair areas of the Qatari capital Doha.