Al -Hammadi: A commitment to sustainable growth with a focus on strong revenue sources
Good: Maintaining the position of the Pearl Island as a preferred destination for living and entertainment
The United Development Company, the main developer of the Pearl and Seaqa islands, announced its financial results for the year 2024, where it recorded net profits of 427 million riyals and revenues of one billion riyals, while the net profit returned to the company’s owners reached 426 million riyals, and the basic return of the share reached 0.120 riyals with distributions Suggested profits of 5.5 %.
Commenting on these results, His Excellency Mr. Ahmed bin Ali Al Hammadi, Chairman of the United Development Company, said: “This year, the United Development Company continued its commitment to sustainable growth, with a focus on strong revenue sources from sales of housing units and commercial rental. The island of Jimaa, which has been opened and operated, represents an important stage in our development efforts, while the Pearl Island continues its development to become a model for sustainable living.
His Excellency added: “The Joape Island has witnessed great progress in its development, as the commercial spaces for tenants were delivered to start the internal equipment work, in addition to that, the housing units are delivered to the owners.”
Al -Hammadi stressed: “As we look forward to the year 2025, the United Development Company remains committed to accelerating the pace of completion of the remaining projects on the island of Jimaa, after its successful opening in 2024. Our efforts will continue to attract investors, buyers and tenants, while supporting the growth of the Qatar economy and the tourism sector.”
The Pearl Islands and the Seaqa
For his part, Mr. Yasser Salah Al -Jaida, CEO of the United Development Company, said: “In 2024, the main goal was to put the pearl islands and a bond on the global investment map through targeted marketing campaigns and carefully planned offers, as success was achieved in attracting international investors. Those wishing to benefit from the residence program in Qatar, which made the United Development Company the preferred option for local and international investors. ”
“By focusing on residential projects on the island of the Pearl, sales goals and rental units were achieved, as high occupancy rates in residential and commercial spaces are a testimony on the increasing demand for our unique offers and reflects our commitment to providing value and sustainable growth.”
Sustainability and community management
He added, “The Joape Island has witnessed remarkable progress in developing infrastructure, service networks and facilities. The delivery of commercial units to tenants to prepare constituent works has played an important role in accelerating the completion of the Crystal Residence project and the crystal walkway, which paved the way for the opening of the island in 2024 ».
Regarding the company’s plans and prospects for 2025, good said: “Sustainability and community management will remain at the heart of our strategy to preserve the position of the Pearl Island as a preferred destination for living and entertainment. On the island of Joys, with the opening of Crystal Residence and the operation of some commercial activities, we celebrate these important achievements in the framework of the continuous development of the island.
Prize prizes
In 2024, the United Development Company was honored with a set of prestigious awards in appreciation of its distinguished achievements. The awards obtained by the United Development Company include: The Green World Champion Award in Energy Management, Golden Awards in Innovation and Control of Pollution and Emissions, Silver Awards in Corporate Social Responsibility, Sustainability, Waste Management, Sustainable Water Management, and a Bronze Prize in Preserving Projects Wildlife. In addition, the company was honored by the Steve 2024 Customs Services Award, which honors the communication center «communication» in customer services and communication centers. Other awards included the Green Apple Award for Building and Construction for the year 2024 in the areas of energy saving, reducing pollution and emissions, energy management, waste management, and water efficiency; International Business Continuity Award from Cir (UK) magazine; Best CSR initiative in the real estate sector at the company’s social responsibility summit in Qatar; Sustainable Energy Management Award from “Tarchid” – Kahramaa for 2024; Award for Excellence in Corporate Social Responsibility for 2024; The 2024 International Safety Award from the British Safety Council; The best cloud transformation project for 2024 and the best leader of the 2024 digital transformation at the Summit and Conference of Artificial Intelligence and Analysis in the Middle East; And silver prizes for the most popular Marina (with general vote) and sustainability, as well as a bronze prize for innovation at the Abu Dhabi Sea Awards 2024.
Significant progress
The company also witnessed remarkable technological progress, which was to enter digital access by phone to replace the actual access cards for residents. This shift has contributed to improving arrival control measures, which led to increased comfort for residents. The United Development Company also adopted the digital transformation through the launch of a website and a new mobile application for the Pearl Islands, with the aim of providing improved services and additional comfort to the stakeholders.
The activities of the United Development Company cover many vital investment sectors including real estate development, property management, central cooling, infrastructure and facilities, as well as marine and hospitality.