Frequently Asked Questions

FAQs

  • What is UDC?
    United Development QSC (UDC) was founded in 1999. It has become one of the leading private sector companies in the State of Qatar. UDC has been listed on the Qatar Exchange since June 2003. Currently UDC has an authorized share capital of QR 3.372 billion with total assets of QR 18.764 billion as of December 2013 and a market capitalization of QR 7.625 billion. UDC has produced a solid business platform that supports a diverse range of wholly owned organizations and joint ventures with international partners. Sectors include hydrocarbons and energy, infrastructure and utilities, maritime and environmental related businesses, residential and commercial real estate development, property management, fashion business, hospitality and leisure. These activities operate primarily in Qatar and the Gulf Region, with ambitious plans to extend these activities into the global marketplace, while maintaining the highest quality standards.
  • How is UDC achieving success?
    The strength and direction of the Qatari economy, along with the local and regional reputation of the UDC Board, has enabled the company to establish high profile projects in Qatar and the Middle East region in a wide range of sectors, attracting well qualified staff and international partners.

    By applying consistently high standards of management and operation to all its enterprises, UDC has been able to maximise the successful delivery of its projects with excellent returns to shareholders.
  • What are UDC’s main assets and company investments?
    Wholly owned operations include:

    The Pearl-Qatar is UDC’s flagship project, a multi-billion dollar urban development project that will provide upscale housing for approximately 45,000 people on a meticulously designed, award winning four million square meter reclaimed island.

    The Medina Centrale / Abraj Quartier companies own and lease key residential and retail parcels of The Pearl-Qatar bearing the same names.

    The Hospitality Development Company (HDC) builds partnerships with renowned and promising hospitality brands, developing them first in Qatar and then throughout the Middle East and North Africa [MENA] region. HDC will own and develop luxury boutique hotels, clubs and venues at The Pearl-Qatar for management by leading international operators.

    The Pearl for Management and Operations consolidates the knowledge and experience in project development and asset management that has accumulated in the course of developing The Pearl-Qatar. It will deliver world-class infrastructural services at The Pearl-Qatar, and these services will be expanded internationally to meet the needs of future urban development projects.

    Ronáutica Middle East, established in 2007 as an international marina specialist, is leading the new leisure boating industry in the Gulf Region. Beginning with the development of three marinas at The Pearl-Qatar, along with a host of supporting marine services, the company will continue to bring high-end nautical culture to receptive markets across the region.

    The Madinainova Company was established to address the needs of property owners and residents of The Pearl-Qatar. It is the central point of communication for the stakeholders, investors and residents of the Island. It coordinates with government agencies and related entities to resolve issues and develop further policies and procedures with the aim of ensuring that a five- star quality lifestyle is delivered at The Pearl-Qatar.

    The Pearl Owners Corporation (TPOC) provides Co-Owners Association Management services to Co-Owned freehold property owners in Qatar.

    United Facilities Management Company’s core business is the delivery of integrated facilities management services. Geared initially to service The Pearl-Qatar, it presently manages the Master Community Area of The Pearl-Qatar along with retail and residential assets, notably in Porto Arabia, Medina Centrale, Viva Bahriya and Qanat Quartier.

    United Facilities Solutions (UFS) is a knowledge based Technical and Business Solutions & Services provider.

    Joint ventures include:

    Qatar District Cooling Company (Qatar Cool) (UDC, 51%; National Central Cooling Company P.J.S.C “Tabreed”, 44%; Private Qatari Investors, 5%) A private utility service for Qatar, Qatar Cool offers a continuous supply of cost-effective air-conditioning. At The Pearl-Qatar, Qatar Cool established the world’s largest district cooling plant, with a capacity of 130,000 tons of refrigeration. The first phase of construction was successfully completed in 2008. In 2009 the first three of eleven planned towers were connected, and, for the first time in Qatar, district cooling is being provided for individual villas on the island.

    Middle East Dredging Company (MEDCO) (UDC, 45.9%; Dredging, Environmental & Marine Engineering “DEME”, 44.1%; Government of Qatar, 10%) Since 2004, MEDCO has completed marine and reclamation works to a value of approximately QR 4.7 billion in Qatar and the wider Gulf area, including the creation of The Pearl-Qatar, as well as contracts in Abu Dhabi, Ras Al Khaimah, Dubai and Bahrain (Qatar Bahrain Causeway) and for the New Doha International Airport. MEDCO is also a member of the QBC Consortium executing the design and build contract for the Qatar-Bahrain Causeway Project.

    United Ready-Mix (UDC, 32%; Besix S.A., 40%; Six Construct Limited, 9%; Private Qatari Investors, 19%) United Ready-Mix delivers concrete products of international standards to the Qatari market. With three state of the art portable batching plants located on a temporary island adjacent to The Pearl-Qatar, United Ready-Mix is able to supply wet concrete products directly to contractors on site at the Pearl-Qatar.

    SEEF Limited (UDC, 20%; Qatar Petroleum, 80%) SEEF produces Linear Alkyl Benzene (LAB), a downstream petrochemical feedstock for the world's detergent manufacturing industry, and Heavy Alkylate (HAB), a by-product used as lubricant oil base stock.

    Gulf Formaldehyde Company (GFC) (UDC, 10%; Qatar Fertilizer Company, 70%; Qatar Industrial Manufacturing Company, 20%) GFC is engaged in the production and sale of urea formaldehyde concentrate. Most of the production is purchased by the Qatar Fertilizer Company, while the remaining part is marketed to other urea fertilizer producers in the region.

    Asteco Qatar (UDC, 30%; Commercial Bank of Qatar, 30%; Qatar Insurance Company, 20%; Asteco Property Management, 20%) Asteco Qatar has been established to provide real estate property management services in Qatar, delivering real estate products to an international standard, including assistance in sales, leasing, property management and evaluation.
  • How does UDC finance its projects?
    Wherever possible, UDC endeavours not to incur corporate debt in developing projects. Instead, the preferred method is to raise project finance, where the risk is taken on the project itself.
  • Who are UDC’s shareholders?
    UDC's founder shareholders, who held some 45 percent of the company's shares at launch, are among the most successful businessmen in Qatar, with established track records in joint ventures, project development, banking, trading, international investment and urban development. UDC shares are listed on the Qatar Exchange and they are widely held by over 5,000 shareholders in Qatar and abroad.

    - For further information on UDC's share price movements on the Qatar Exchange, please consult: www.qe.com.qa

    - If you require investor information from UDC, please contact directly: info@udcqatar.com
  • Is UDC seeking further joint ventures with foreign companies?
    UDC’s Board remains equipped, ready and willing to support innovative, strategically aligned business ideas and to capitalise on any interesting opportunities they present.

UNITED DEVELOPMENT COMPANY

info@udcqatar.com

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