UDC's reports H1 profits of QR241m

Notes and media contacts

About United Development Company:
United Development Company (UDC) is one of Qatar's leading public shareholding companies. UDC's mission is to identify and create opportunities that contribute to Qatar's growth and provide good shareholder value. The Company was established in July 1999 and has an authorized share capital of QR1.0725bn ($294m). It was listed on the Doha Securities Market in June 2003.

UDC's target areas of interest include: infrastructure and utilities, hydrocarbon and energy, urban development, environment-related businesses, and hospitality and leisure.

From day one, the Company's mandate and mission has been to become a cornerstone in the development that the region is currently witnessing; creating lasting value and maximizing returns for partners and shareholders. Through a combination of project activities and commercial enterprise, UDC has developed into the first-choice private sector joint venture partner for international investors in Qatar, and has successfully established new companies and investment vehicles across the region.

Since 1999, UDC has moved from project research into development, production and operations. Project research has culminated into the successful creation of companies that are amongst the leaders in their related fields of industry. The Company prides itself in its ability to create quality investment opportunities both at home and overseas. The company is empowered to invest in financial instruments in Qatar.

UDC's founders, who at launch held 45% of the shares, are among Qatar's most successful investors and developers. Other Qatari and GCC investors are also shareholders in UDC.

For more information, please contact:
Mira El-Baphe
Senior Media Relations Officer
Tel: +974-5970433
Fax: +974-4438971