Barwa Real Estate, Qatar's largest listed developer, has reported a more than doubling of its fourth-quarter net profit, as well as an improved dividend payout for the full year.

The company, a unit of the sovereign wealth fund's real estate arm, earned a net profit of around QR2.13 billion ($585 million) for the final quarter of 2014, up from QR907.5 million ($249 million) a year ago, according to Reuters calculations.

The firm did not provide a breakdown of its quarterly results, so Reuters calculated the figure based on its financial statements.

The firm earned QR2.8 billion ($768 million) for the full year, compared with QR1.4 billion ($384 million) in the prior year, according to the bourse filing.

Barwa also said its board recommended a cash dividend of 2.2 riyal per share. That compares with a cash dividend of two riyals the board recommended for the previous year.-Reuters