* Q2 net loss of 42.9 mln riyals
* H1 dividend 0.58 riyal per share
* Selling land asset in Lusail
* Shares tumble 8.5 pct
(Adds details, background)
DUBAI, July 24 Qatar's largest listed property
developer, Barwa Real Estate, swung to a
second-quarter net loss, according to Reuters calculations.
The company posted a quarterly net loss of 42.9 million
riyals ($11.8 million) on Thursday compared to a profit of 40.6
million riyals in the year-earlier period, Reuters calculated
using first-half figures and previous reports.
Barwa made a profit of 222.2 million riyals in the first
half of 2014, up from 199.2 million riyals in the corresponding
period of 2013, it said in a statement.
The developer said it was working on selling one of its land
assets in a medical and educational project in the city of
Lusail to the government's Higher Committee for Projects and
Heritage. It did not provide a value of the asset.
Some property firms in Qatar are struggling even as the
country throws billions of dollars of its natural gas wealth
into building infrastructure in preparation to host the 2022
soccer World Cup.
Barwa, 45 percent owned by Qatari Diar, the real estate arm
of the Gulf state's sovereign wealth fund, notched up
liabilities of about 37 billion riyals at the end of 2012
because of overexpansion.
Qatari Diar stepped in with financial aid last year,
agreeing to buy some of Barwa's assets for $7.1 billion. In June
this year, Barwa said it was selling a 95 percent stake in Barwa
Commercial Avenue Co to Qatari Diar for 9.0 billion riyals.
Barwa has properties in France, Switzerland and the United
Kingdom and focuses on retail, office, hospitality and
Shares in the company tumbled 8.5 percent in morning trade
after the earnings announcement.
($1 = 3.6404 Qatar Riyals)
(Reporting by Nadia Saleem; Editing by Andrew Torchia)