Qatar, 28 April, 2025 : United Development Company (UDC), the master developer of The Pearl and Gewan Islands, reported a net profit of QR68 million ($18 million) and revenues of QR679 million ($186 million) for the first quarter of 2025. Net profit attributable to equity shareholders reached QR72 million, with basic earnings per share of QR0.020.
UDC highlighted progress on Gewan Island, including the handover of Crystal Residence apartments, the launch of retail outlets, and the activation of Crystal Walkway. Key developments like the Corinthia Gewan Island Hotel and the island’s golf course are also advancing.
The company achieved three Guinness World Records for the largest outdoor air-conditioned shopping centre, the largest outdoor interactive lighting canopy, and the largest pneumatic waste collection system, reinforcing its global leadership in real estate innovation.
At The Pearl Island, UDC continued to grow its hospitality and healthcare sectors, maintain strong residential and commercial occupancy, and attract major retail brands. Internationally, UDC promoted its projects at global real estate events such as MIPIM in France and the International Migration & Property Expo in Hong Kong.
In line with its social responsibility initiatives, UDC signed a partnership with Dreama (the Orphans Care Center) and hosted public events including the Pearl Food Festival, Ramadan Bazaar, and Eid Bazaar.
Source : www.zawya.com
