Barwa Real Estate, one of Qatar's largest listed developers, posted a huge jump in first-quarter net profit on Wednesday.

Barwa made a net profit of QR3.2 billion ($879.10 million) in the three months to March 31, up from QR265 million ($72.7 million) a year earlier, it said in bourse statement.

The company, which did not state its quarterly revenue or provide further details to explain the profit jump, agreed in December to sell two plots of land to the government for a combined $1.47 billion, its latest land sale to state-related entities.-Reuters