FINANCIAL NEWS

Qatar’s UDP reports USD1b profit for 2011

29 Feb 2012

(MENAFN) Qatar’s United Development Company (UDP) reported six-fold increase in profits for 2011 compared to 2010, Arabian Business reported.

The developer behind flagship Peral-Qatar said it made USD1.03 billion profit last year, up from USD169.35 million in 2010.

Total assets increased to USD5.23 billion in 2011, up from USD2.9 billion in 2010, UDP added.

In December, UDC said it was in talks with a state pension fund about a strategic investment worth USD44 million.

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