Khalil Sholy, UDC’s Managing Director and President
United Development Company (UDC) has reported an increase of Net profit to QR 617 million compared to QR 515 million in 2009, representing an increase of 20%. Total assets increased by 21% to QR 10.9 billion from QR 8.9 billion in 2009.
Earnings per share increased by 18 % to QR 4.45 compared to QR 3.77 in 2009.
UDC Chairman, Hussein Al Fardan attributed the Company’s continued success to Qatar’s solid economic position in the Region and the continued opportunities afforded by the stability and growth of the Country. “We are fortunate to be operating in a highly visionary and rapidly developing Country, as witnessed by the recent award of the FIFA 2022 World Cup. This backdrop presents multiple opportunities for continuing diversified business for UDC.
Khalil Sholy, UDC’s Managing Director and President, highlighted the contribution of various units across the business in delivering these results and expressed his appreciation to the Management and employees of UDC and Associated Companies.
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 marketing services.