Turki bin Mohammed Al Khater (right), UDC Chairman, and other senior officials of the Company holding a meeting through the electronics communications

Qatar- UDC reports net profit of QR57m for 1Q 2020 revenues reach QR296m

2020-04-23 04:11:12

(MENAFN- The Peninsula) The Peninsula

Doha: United Development Company (UDC), the master developer of The Pearl-Qatar and Gewan Island, has reported a net profit of QR 57m for the first quarter of this year (1Q 2020). Revenues of the real estate giant stood at QR296m for the period.

The net profit attributable to the equity shareholders stood at QR49m and basic earnings per share was QR.014 (or 14 dirhams).

UDC is a leading Qatari public shareholding company with a mission to identify and invest in long-term projects contributing to Qatar's growth and providing shareholder value. Established in 1999, the Company was first listed on the Qatar Exchange in June 2003. It has an authorised share capital of QR3.5bn and total assets of QR18bn as at March 31, 2020.

UDC activities cover a multitude of vital investment sectors including real estate development, property management, infrastructure and utilities, maritime and hospitality-related businesses.

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