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FINANCIAL NEWS
Qatar’s UDC posts USD 74.34mn net profit in Q1
26 Apr 2016
(MENAFN) United Development Co. (UDC) proclaimed a net profit of USD 74.34mn for the first quarter of 2016, which was attributed to owners of the firm at USD 71.05mn.
Accordingly, the firm is ambitious for growth in various segments, and most notably The Pearl-Qatar where its focus on premium residential units.
In addition, the company concentrated on keeping sustainable income from its core operations, while the revenue for Q1 grew by 15 percent.
On the other hand, it also viewed an increase in the residential and retail occupancy rates in the Pearl-Qatar.
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