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United Development Company (UDC), a major shareholder in the State of Qatar and the lead developer of Pearl-Qatar and the island of Gheon, earned a net profit of QR265 million on a revenue of QR1.18 billion in 2020.

And core earnings per share remained at QR0.064, with a 5% dividend.

Despite the challenges that businesses will face in 2020 as a result of the Coronavirus epidemic, UDC has been able to sustain development throughout the year. I was able to complete the planned stages of development on Pearl-Qatar and the island of Gewan.

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Turkey bin Mohammed Al-Khater, Chairman of the UDC, stated. Work on construction, landscaping, and infrastructure. There is also an affiliated golf course and beach club in Geva, in addition to signing technical services and management and operations agreements with Corinthian Hotels.

In addition to the new craft club on the island of The Pearl-Qatar

"All of these investments will ensure UDC's long-term growth and the creation of new opportunities and sources of income." He stated that it was consistent with the proposed dividend value. It will invest in these projects in 2021 in accordance with its five-year business plan and emerging real estate projects.

“We anticipate increased demand for real estate in the near future. The new ministerial decision, which allows for foreign ownership of property and the benefits it provides to residents and investors, will ensure the real estate sector's long-term growth, including that of our company, ”al-Qatar said. According to UDC Chairman and CEO Ibrahim Jassim Al Pearl, the stabilization of Qatari resident rates has resulted in a recurring return on residential and retail leasing, as well as the sale of residential units and plots by 2020.

The residence expanded and benefited from the sale of 31 completed residential units in Pearl-Qatar and 95 percent of the residential units under construction in Al Mutahida Towers, with 140 new lease agreements signed for UDC properties. This is in addition to the completed villas and low-rise buildings in Giardino village, as well as all residential plots in Qanat Quartier Marina.

UDC has completed the sale of 70% of the residential plots on Gewan Island. Retail leasing increased by 125 percent in 2020 compared to 2019, with the introduction of 28 new retail brands in Pearl-Qatar.

According to Al-Othman, the three main retail hubs in Porto Arabia are Medina Central and Connaught Quattier. Yuvasi made significant progress in the development of Gewan Island, completing major maritime work in conjunction with existing infrastructure and completing major foundations, as well as beginning to erect support towers on Gewan Island's main entrance bridge. “The UDC has accelerated development throughout Pearl Qatar, with Al Mutahida Towers nearing completion and plans to hand over apartments and retail units to residents and retailers. Tenants will be available in the second quarter of 2021, he said.