Net Profit of QAR 68 Million and Revenues of QAR 679 Million
• Official opening of Gewan Island and commencement of visitor and investor access
• New global achievements with 3 Guinness World Records
• Strategic investments enhance UDC’s position as a premier residential and tourism destination
• Signing of key partnerships aligned with sustainable social responsibility

Doha, Qatar – 23 April 2025: 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 QAR 68 million and revenues of QAR 679 million. The net profit attributable to equity shareholders stood at QAR 72 million, with basic earnings per share of QAR 0.020

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. The Company also continues to support humanitarian initiatives such as the Autism Parents Platform and organizes community sports and wellness events to promote healthy lifestyles and social cohesion.

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. These events drew large crowds and contributed to cultural and commercial engagement, further showcasing UDC’s strategy to offer vibrant and inclusive community experiences.

United Development Company remains a prominent public shareholding company in Qatar, consistently identifying and investing in long-term opportunities that contribute to national development and deliver lasting value to shareholders. Established in 1999 and listed on the Qatar Stock Exchange since 2003, UDC has an authorized capital of QAR 3.5 billion and total assets of QAR 18.7 billion as of 31 March 2025.

UDC’s core business sectors include real estate development, property management, infrastructure and utilities, district cooling, as well as marine and hospitality-related operations.