Michael Fernando

United Development Company (UDC)

United Development Company (UDC) is a leading Qatari public shareholding company with a mission to identify and invest in long-term projects contributing to the growth of the State of Qatar and providing good shareholder value. Established in 1999, the Company was listed on the Qatar Exchange in June 2003. It has an authorized share capital of QR 3.5 billion and total assets of QR 20.9 billion on 31 December 2022. From day one, the Company actively contributed to the development of the State of Qatar, rapidly evolving into a leading Qatari Public Shareholding Company and successfully establishing a group of various good performing investments. Through a combination of project activities and commercial enterprise, UDC and its subsidiaries have accumulated a large amount of experience and detailed knowledge in real estate development, property management, hospitality and maritime, district cooling, and infrastructure and utilities. As part of its five-year business plan, UDC is leveraging its leading market position to achieve sustainable financial performance and maintain profitability targets by focusing on the core business activities and investing in new and viable real estate developments. UDC's flagship project is The Pearl Island, an urban mixed-use, man-made island and one of the largest real estate developments in the Gulf. UDC is also in the process of developing Gewan Island located adjacent to The Pearl Island, into the Company's latest world class residential, commercial and entertainment project. This development has the potential of becoming a magnificent destination that will maintain UDC's future growth.