image description
image description
Tell A Friend

FinancialNews


  • 29-01-12

    Qatar's UDC reports USD1b profits in 2011

    (MENAFN) Qatari developer United Development Company (UDC) reported a six-fold increase in profits in 2011 compared to 2010, Arabian Business reported. UDC, the developer behind The Pearl Qatar, said it made a net profit of USD1.03 billion last year, up from USD169.4 million in 2010. Total assets increased to QR19.056bn, compared to QR10.878bn as of the end of 2010, it said in a statement. President and managing director Khalil Sholy said that the company witnessed in 2011 the opening of almost 50 new businesses at The Pearl-Qatar, in addition to the increasing number of residents that has exceeded 4,000. In December, UDC said that it was in talks with a state pension fund about a strategic investment worth USD44 million.

Follow us

RSS
Terms & Conditions  |  Privacy & Security  |  Contact Us  | Sitemap
© 2024 BBK  |  All Rights Reserved