Jan 25 2012 |
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UDC announces financial results for the year 2011
Net profit of QR 3.772 Billion for the year 2011 compared with QR 617 Million for 2010.
Total
assets of QR 19.056 Billion compared to QR 10.878 Billion as of December 2010
UDC Chairman, Hussein Al Fardan attributed the Company's continued success to Qatar's solid economic position in the Region and the continued opportunities afforded by the stability and growth of the Country. "We are fortunate to be operating in a highly visionary and rapidly developing Country. This backdrop presents multiple opportunities for continuing diversified business for UDC ".
Khalil Sholy, UDC 's Managing Director and President, highlighted the contribution of various units across the business in delivering these results and expressed his appreciation to the Management and employees of UDC and Associated Companies. Sholy also added " UDC is in discussion with Qatari General Retirement and Social Insurance Authority to make a strategic investment in the company.
United Development Company is one of Qatar's leading shareholding companies. During the past few years, UDC has established successful strategic partnerships with major international companies operating in different fields. UDC 's target areas of interest include: infrastructure and utilities, real estate, hydrocarbon and energy, urban development, environmental-related businesses, hospitality and leisure, fashion, information technology, business and marketing services.
About
United Development Company
(
UDC
)
Founded in 1999,
United Development Company
(
UDC
) has been listed on the Qatar Exchange since June 2003 and is one of Qatar's leading private sector shareholding companies.
The United Development Company was established with the vision to identify and invest in long-term projects contributing to Qatar's growth and providing lasting shareholder value.
UDC 's target areas of interest include: infrastructure and utilities, energy-intensive industries, hydrocarbon downstream manufacturing, real estate, urban development, maritime and environment-related businesses, hospitality, retail and fashion, information technology, media and communications, insurance and other services.
UDC has shown an ability to attract and partner with the highest quality of international talent, bringing outside expertise to bear on significant developments in Qatar and beyond. It has also demonstrated a successful model for synergistic growth, creating and operating a diverse portfolio of substantial businesses that leverage off one another and generate additional revenue streams in new markets.
UDC 's founders and current Board Members are among Qatar's most successful investors and developers. Thousands of Qatari shareholders hold 75 percent of the total shares and the remaining 25 percent are held by other GCC and international investors.
FOR MORE INFORMATION:
UDC
Marketing & Communications
corporatecommunications@udcqatar.com
© Press Release 2012
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