With developing projects in the realty industry, investments, infrastructure, and facilities that are implemented by Qatar’s leading public shareholding firm, United Development Company (UDC), the company has emerged as one of the foremost developers in the country.
UDC Chairman, Turki bin Mohammed Al Khater, stated in the annual report for 2022 that the past year was full of achievements as the Company managed to distinguish itself in every field and reach the world through our sustainable real estate and investment projects and firm commitment to fulfilling the promises made to shareholders, especially in striving to deliver projects before the start of the World Cup.
UDC was able to strengthen the position of The Pearl Island as an international leisure tourist destination and this falls within UDC’s commitment as a private sector company to achieving the vision of Qatar and its wise leadership in making the tourism sector one of the priority sectors for building a diversified and vibrant national economy.
Regarding the future plans for the current year, Al Khater said, “For 2023, UDC renews its pledge to shareholders to complete its development projects on Gewan Island and attract potential investors, buyers, and tenants, and to also play an active role in supporting the Qatari economy and promoting Qatari tourism, the latter increasingly gaining importance in recent times.”
“During the year 2022, UDC focused on delivering new residential and commercial projects to satisfy the ever-increasing demand for buying/renting real estate on The Pearl Island and Gewan Island in light of the great diversity of our projects and their fulfillment of various aspirations, whether investment or residential,” he added.
In the last quarter of the year, UDC organised various entertainment events to keep up with the recreational activities and functions hosted by the country during the World Cup. The far-reaching success of UDC’s events at The Pearl Island was evidenced by the record-breaking number of visitors achieved, which in turn reflected positively on the Island’s retail business.
Al Khater further noted that accordingly, the Company was proud to host international events held in Qatar for the first time, which attracted foreign tourists to The Pearl Island and transformed it into a convergence point for East and West.
UDC, in light of its strategy to diversify and enrich its residents’ lifestyle as well as public facilities on The Pearl and Gewan Islands, has recently delivered two parks in time for the World Cup quickly becoming visitor hotspots and prized additions to The Pearl Island’s extensive list of resident facilities and privileges. This is in addition to the inauguration of Corinthia Club Golf in the neighbouring Gewan Island and the new Corinthia Yacht Club in Porto Arabia, which have equally received public acclaim and attracted many visitors, he added.
As part of its five-year business plan, UDC is leveraging its leading market position to achieve sustainable financial performance and maintain profitability targets by focusing on the core business activities and investing in new and viable real estate developments.
Through a combination of project activities and commercial enterprise, UDC and its subsidiaries have accumulated a large amount of specific experience including detailed knowledge of real-estate development, property management, district cooling, hospitality and maritime, infrastructure and utilities.
