Qatari developer Ezdan Holding Group recorded a jump in its nine-month net profit to QAR 1.29 billion, up from QAR 1.22 bn in the same period last year, a 5.8% increase, according to a bourse statement on Sunday.

The operating income of Ezdan meanwhile rose to QAR 1.6 mn from QAR 1.34 mn last year. The company said the results were reflected the group’s continuous growth despite difficult economic circumstances, according to Trade Arabia.

Also on Sunday, Ezdan announced it had bought up part of Speed Trading and Contracting Company’s shares in Magical Festival Village Company, raising its share to 70% of the company’s total capital, according to a separate bourse statement.

Magical Festival Village is a recreational area in Doha.