Qatar’s UDC has reported a rise in net profits.
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Qatar’s United Development Company (UDC) has recorded a net profit of $153.5 million for the third quarter of this year, up 11% from the same period last year, it was reported.
The developer, behind projects such as the Pearl Qatar, has seen its third quarter earnings per share increase 10.5% from the same period in 2013.
“We have achieved good results in the third quarter of the year, thanks to our diligence in improving all aspects of our operations and implementing quality control mechanisms more effectively, therefore attracting more quality-seeking investors to The Pearl-Qatar,” said Turki Mohammed Al Khater, UDC Chairman and Managing Director, quoted in The Peninsula.
“We are committed to sustain the growth, profitability and stakeholder expectations, by working effortlessly to complete more phases of our flagship project The Pearl-Qatar, he added.