Qatar: UDC posts $18mln net profit and revenues of $186mln in Q1
Doha: United Development Company (UDC), one of Qatar's leading public shareholding companies and the master developer of The Pearl and Gewan Islands, announced its financial results for the first quarter of 2025. The Company reported a net profit of QR68m and revenues of QR679m. The net profit attributable to equity shareholders stood at QR72m, with basic earnings per share of QR0.020
UDC continues to implement a balanced financial approach focused on operational efficiency and sustainable value creation, through effective revenue and expense management while maintaining the high quality of its services and ongoing projects.
Gewan Island marks a significant milestone in UDC's development journey, with major construction milestones completed. This includes the handover of the Crystal Residence apartments to owners, the launch of retail outlets, and the activation of Crystal Walkway, positioning the island as a prime destination for luxury living, tourism, and investment. Additionally, key landmarks are taking shape, including the upcoming Corinthia Gewan Island Hotel, set to become a signature hospitality destination in Qatar, and the island's golf course, which promises a world-class sporting experience.
In a new international achievement, UDC earned three Guinness World Records, further cementing its global standing and commitment to innovation and excellence. These include: the largest outdoor air-conditioned shopping centre, the largest outdoor interactive lighting canopy, and the largest pneumatic waste collection system. These achievements highlight UDC's leadership in real estate development and sustainable solutions.
On The Pearl Island, UDC continued to expand its hospitality and healthcare offerings, including the ongoing development of The Pearl International Hospital. The Company also maintained high residential and commercial occupancy rates and achieved continued growth in both sales and leasing activities.
Retail and commercial spaces on The Pearl and Gewan Islands continue to attract strong interest from investors and major brands, contributing to the vibrancy of the local economy and affirming the appeal of UDC's developments as dynamic commercial hubs.
Internationally, UDC actively promoted its diverse investment portfolio by participating in key global real estate events such as MIPIM in France and the International Migration & Property Expo in Hong Kong, as part of its broader strategy to attract foreign investment and enhance global collaboration.
Reinforcing its commitment to sustainable social responsibility, UDC recently signed a strategic partnership with Dreama (the Orphans Care Center) to support the participation of Dreama's children in cultural and national events held on The Pearl and Gewan Islands.
In the first quarter of 2025, UDC hosted several highly successful public events at The Pearl Island, including the Pearl Food Festival, Ramadan Bazaar, and Eid Bazaar.
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