United Development Company (UDC), Qatar's premier shareholding company reported 2009 revenues of QR 1.492 billion, an increase of 41% from 2008 revenues of QR 1.059 billion. Net profit climbed by 73% to QR 515 million compared to QR 297 million in 2008. 2009 revenue and profit figures exclude revaluation gains recognized directly within the Company’s equity.

Total assets increased to QR 8.964 billion from QR 8.349 billion in 2008. Earnings per share are reported at QR 4.71, compared to QR 2.91 in 2008. Board members also announced that they would be recommending 25% bonus shares of the share capital.

UDC Chairman, Hussein Al Fardan, said “Even in these economically challenging times, we are incredibly pleased to report another strong financial performance by UDC."

Al Fardan attributed the Company’s continued success to Qatar’s economic stability and to the foresight and leadership of His Highness the Emir, Sheikh Hamad Bin Khalifa Al Thani.

Khalil Sholy, UDC’s Managing Director and President, commended the contribution of all the members of UDC’s family including the Board of Directors, the Management team, and the Employees on this achievement.

“We are confident our strategic plans will continue to enhance the broad scope of UDC’s business activities", said Sholy. "The Company’s 2009 financial performance has again demonstrated a successful model of synergistic growth and resilience - surpassing a challenging global financial downturn and creating businesses that can leverage off one another and achieve additional revenue streams.”

United Development Company is one of Qatar's premier shareholding companies. During the past few years, UDC has established successful strategic partnerships with major companies operating in different areas. UDC’s target areas of interest include: infrastructure and utilities, hydrocarbon and energy, urban development, environmental-related businesses, hospitality and leisure, fashion, information technology, business and marketing services.
 
UDC is also the owner and master developer of The Pearl-Qatar, a multi-billion US dollar man-made island, spanning nearly 4 million square meters. The Pearl-Qatar is the country's first international urban development venture.