Alaqaria posts 10% income rise

Qatari developer, Alaqaria has reported a 10% rise in total income for 2009 to QR528m compared with the QR478m during 2008, the Peninsula has reported. The developer attributed the increase to a 63% increase in rental and finance lease income, which reached QR447m, up from QR274m in 2008. Net income for the full year was QR214m, compared with QR311m in 2008. The decline was mainly attributable to a decrease in investment income and an increase in finance cost, the firm said.