United Development Company (UDC) reported a net profit of QR189mn and revenues of QR881mn for the first half of 2023.
The net profit attributable to the equity shareholders was QR188mn and basic earnings per share were QR0.053. In the first half of 2023, UDC achieved a commendable level of sustainability, successfully balancing its development and commercial activities between The Pearl and Gewan Islands.
UDC’s unwavering focus on operational efficiency and delivery excellence has played a pivotal role in maintaining this equilibrium. Consequently, UDC has managed to establish a diversified revenue stream, ensuring a stable financial outlook.
Based on the new regulations for real estate financing announced by Qatar Central Bank, UDC is looking forward to taking full advantage of these measures that play a significant role in regulating and driving the development of the real estate sector.
The mechanisms and regulations put in place are thoughtfully designed to regulate the sector and drive further progress, presenting numerous advantages for investors from Qatar and abroad. UDC firmly believes that these proactive measures will yield positive outcomes, contributing to the continuous growth and development of the real estate market.
UDC’s unwavering support for Qatar’s vision and its commitment to delivering exceptional projects on The Pearl Island and Gewan Island exemplify UDC’s dedication to elevating the real estate landscape in the region. As UDC continues to implement innovative strategies and adhere to high standards, it reinforces its position as a key player in shaping the future of urban development and contributing to its prosperity in the long term.
On the development front in the first half of 2023, UDC, through its projects in The Pearl and Gewan Islands, was committed to providing a varied property portfolio coupled with world-class communal facilities, giving investors access to a diverse range of residential and commercial projects in a prominent and strategic location that offers numerous incentives and advantages. This, in turn, contributes to creating added value for shareholders and providing them with sustainable revenues.
UDC’s ongoing commitment to diversification and innovation in its residential projects reflects its dedication to meeting the diverse needs of investors and enhancing its overall lifestyle offering.
Gewan Island is slated for a full launch in early 2024, promising to become a globally renowned destination that seamlessly blends luxury residences and an array of recreational activities. The fusion of these elements will offer an unparalleled and distinctive experience, captivating both local residents and international visitors alike.