United Development Company announces Q1 2015 results

United Development Company (UDC), a leading Qatari shareholding companies and master developer of The Pearl-Qatar, today announced another strong performance in the first three months of 2015 with a net profit of QR 270 million, an increase of 8% from Q1 2014.

The net profit attributable to owners of the company stood at QR 262 million as compared to QR 241 million in the same period of 2014, with earnings per share reaching QR 0.74 for the first quarter of 2015, compared to QR 0.68 in the same period of 2014. 

Commenting on the company's financial results, Mr. Turki Al Khater, UDC Chairman and Managing Director said: "I am pleased with our performance as we continue to invest in our capabilities and grow our ranks with the aim of enhancing our market position while we pursue our long-term strategic initiatives. UDC has been able to deliver good quarterly results during the first quarter of the year, thanks to the continued focus on project delivery of premium residential and commercial units at The Pearl-Qatar, as well as the successful investment in strategic partnerships.”

Al Khater added that UDC is fortunate to be operating in a highly visionary and rapidly developing country, and that this backdrop presents multiple opportunities for continuing the company’s sound financial performance. 

United Development Company is one of Qatar’s leading shareholding companies. During the past few years, UDC has established successful strategic partnerships with major international companies operating in different fields. UDC’s target areas of interest include: infrastructure and utilities, real estate, hydrocarbon and energy, urban development, environmental-related businesses, hospitality and leisure, fashion, information technology, business and facility management services.