United Development Company announces Q3 2024 financial results
The Peninsula
Doha Qatar: United Development Company (UDC), the master developer of The Pearl and Gewan Islands, has announced its financial results for the third q...
Doha-Qatar: United Development Company (UDC), the master developer of The Pearl and Gewan Islands, has announced its financial results for the third quarter of 2024, reporting a net profit of QR 241 million on revenues of QR 1.2 billion. The net profit attributable to equity shareholders amounted to QR 242 million, with basic earnings per share of QR 0.068.
Throughout the first nine months of 2024, UDC made significant strides across its core business areas, with notable achievements in residential sales, leasing activities, and retail operations at both The Pearl and Gewan Islands. The company also completed major development milestones, at Crystal Residence in Gewan Island and The Pearl International Hospital.
As these projects near completion, UDC is set to launch the hospital in Q4 2024, while the activation of Gewan Island’s residential and retail activities is expected in the fourth quarter of this year and the first quarter of 2025. Crystal Residence handovers are scheduled to begin in November 2024, marking a significant step toward the island's full-scale development.
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