UNITED
DEVELOPMENT
COMPANY
- Financial Results -
-2024-
- 30 September 2024 -
INVESTOR PRESENTATION | ||||||
2 | ||||||
Table of Contents | ||||||
Overview of the Company | 3 | |||||
Board of Directors | 4 - 6 | |||||
Key Highlights | 7 | |||||
Development Key Highlights | 8 | |||||
Corporate Governance | 9 | |||||
Share Information | 10 | |||||
Dividend Payout | 11 | |||||
Financial Performance | 12 - 18 | |||||
Business Segments Overview | 19 | |||||
Major Operating Assets | 20 - 24 | |||||
Major Projects | 25 | |||||
Additional Information | 26 - 31 | |||||
OVERVIEW OF UNITED DEVELOPMENT COMPANY
3
United Development Company (UDC) is a leading Qatari public shareholding company with a mission to identify and invest in long- term projects contributing to Qatar's growth and providing good shareholder value. Established in 1999, the Company was first listed on the Qatar Exchange in June of 2003. It has an authorized share capital of QR 3.5 billion and total assets of QR 19.8 billion on 30th September 2024.
From day one, the Company actively contributed in the development of the State of Qatar, rapidly evolving into a leading Qatari
Public Shareholding Company and has successfully established 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 specific experience including detailed knowledge of real-estate development, property management, hospitality and maritime, infrastructure and utilities.
UDC's flagship project is The Pearl-Qatar, an urban mixed-use,man-made island development. Located 350 meters offshore of
Doha's prestigious West Bay District, The Pearl-Qatar is one of the largest real estate developments in the Gulf.
UDC is also developing Gewan Island located adjacent to The Pearl-Qatar Island, into the Company's latest world class residential, commercial, hospitality and entertainment project. This development has the potential of becoming a magnificent destination that will maintain UDC's future growth.
UDC established a business model for synergistic growth, creating and operating a diverse portfolio of substantial related businesses that leverage off one another and generate sustainable earnings.
BOARD OF DIRECTORS
4
H.E. Mr. Ahmed Ali Al-Hammadi | H.E. Sheikh Faisal Bin Fahed | Mr. Ali Hussain Ibrahim |
Al Thani | Alfardan | |
Chairman | Vice Chairman | Board Member |
BOARD OF DIRECTORS CONTD…
5
Mr. Abdulaziz Mohammed Hamad Al | Mr. Abdulrahman Saad Al- | Mr. Nasser Jaralla Saeed Jaralla Al |
Mana | Shathri | Marri |
Board Member | Board Member | Board Member |
BOARD OF DIRECTORS CONTD…
6
Mr. Ibrahim Jassim Al Othman | H.E. Abdulla Hamad Al-Attiyah | Mr. Hassan Abdulla Al-Hammadi |
President & CEO & Board | Board Member | Board Member |
Member | ||
KEY HIGHLIGHTS | |
7 | |
- UDC participated in the Cityscape Qatar 2024, held during October'24, wherein it generated significant interest and achieved impressive sales for its highly anticipated Crystal Residence units on the Gewan Island. UDC unveiled its vision for the future of real estate, presenting a range of groundbreaking technologies at The Pearl and Gewan Islands that will set a new standard in customer operations and community management, by utilizing AI and Internet of Things (IoT) technologies.
- UDC has signed a Memorandum of Understanding (MoU) with Qatar Science & Technology Park (QSTP), a member of Qatar Foundation, to foster collaboration on innovative and sustainable solutions in real estate development.
- The Company has signed partnership with UIM and Visit Qatar to host the UIM E1 World Championship, the world's first all-electric race boat series. Hosting E1 at The Pearl Island exemplifies the Company's unwavering commitment to sustainability and innovation. This event promises to be a remarkable celebration of UDC's passion and dedication, all within a breathtaking setting that will captivate both local and international audiences.
- UDC participated in the VIII International Business Property Forum in St. Petersburg, Russia. The forum served as a valuable channel for building connections between the Russian business community and international partners, facilitating agreements and collaboration in the investment and construction sectors.
- UDC has been honored with the prestigious International Safety Award 2024 from the British Safety Council. Amidst rigorous competition among organizations worldwide, UDC emerged as one of the 269 organizations globally to receive the esteemed "Distinction Award" for Gewan Island and the distinguished "Winner Award" for The Pearl Island;
- UDC announced its financial results for the first half of the financial year 2024, reporting a net profit of QR 150 million on revenues of QR 829 million. The net profit attributable to the equity shareholders stood at QR 145 million and basic earnings per share amounting to QR 0.041.
DEVELOPMENT KEY HIGHLIGHTS | |
8 | |
- Development efforts are progressing at an accelerated pace at the Gewan Island. Crystal Residence buildings are on track, complemented by the preparation to launch retail operations by the investors along Crystal Walkway;
- The Pearl International Hospital, is nearing completion and scheduled to open in Q4 2024;
- Development of Luxury Residential villas in Costa Malaz are progressing significantly;
- The Company has succeeded in maintaining good levels of residential and retail occupancy, with ongoing projects progressing as planned. Notably, there has been a significant growth in leasing commercial spaces on The Pearl Island, confirming the attractiveness of UDC properties for commercial investment and business activities.
CORPORATE GOVERNANCE
9
As part of the compliance requirement of the Corporate Governance code for listed companies issued by Qatar Financial Markets Authority, UDC as a Qatari shareholding company listed on the Qatar Exchange is required to disclose the extent to which it complies with the provisions of the code. UDC applies a proper corporate governance framework and principles essential to assist the company in achieving its goals with a high-performance level in addition to improving its internal and external working environment, protecting stakeholders' interests and distributing roles and responsibilities in an ideal way.
UDC has a well-developed corporate governance system in place and continuously works on maintaining the highest standard and common practice.
BOARD OF DIRECTORS & BOARD COMMITTEES
The Board of Directors is responsible for the stewardship of the Company and for providing effective leadership and supervision of UDC's business, whilst owing value in a profitable and sustainable manner. The roles and responsibilities of the Board are defined in the Board Charter. The Board Charter has been published to the public through the Company's website. The Board's roles and responsibilities are compliant with the requirements of the Governance Code of QFMA.
Board Composition
The Board currently consists of nine members, i.e., 3 non-independent, 3 independent and 3 by appointment. The current term of the Board of Directors started on 09th March 2022 and continues for a period of three years.
Board Committees
Board Committees are established to assist the Board of Directors in conducting their duties. Each committee has developed "Terms of Reference" that define the committee's roles and responsibilities in accordance with QFMA regulations and leading governance practices.
INTERNAL CONTROL, COMPLIANCE, RISK MANAGEMENT AND INTERNAL AUDIT
The general objective of the internal control's procedures of UDC is to safeguard assets and capital and to ensure the reliability of UDC and its subsidiaries' financial recordkeeping. UDC has adopted a process of internal controls that allow Management to detect errors in procedures or financial recordkeeping. UDC's internal control framework includes, risk management, internal audit which support in establishing a strong internal control framework.
SHARE INFORMATION
10
Closing Price (QAR) & Trading Vol. (Mn.)
Period | Traded Vol. | Traded Value | Open Price | High Price | Low Price | Closing | ||
(Mn.) | (QAR Mn) | (QAR) | * | (QAR) | * | * | * | |
(QAR) | Price (QAR) | |||||||
Jan'18 - Dec'18 | 924.61 | 1,401.90 | 1.44 | 1.77 | 1.36 | 1.48 | ||
Jan'19 - Dec'19 | 379.88 | 2,026.31 | 1.48 | 1.69 | 1.31 | 1.52 | ||
Jan'20 - Dec'20 | 3,795.71 | 5,472.68 | 1.52 | 1.99 | 0.82 | 1.66 | ||
Jan'21 - Dec'21 | 783.86 | 1,227.61 | 1.66 | 1.72 | 1.42 | 1.54 | ||
Jan'22 -Dec'22 | 607.63 | 932.20 | 1.58 | 1.78 | 1.26 | 1.30 | ||
Jan'23 -Dec'23 | 1,094.75 | 1,200.43 | 1.29 | 1.37 | 0.90 | 1.07 | ||
Jan'24 -Sept'24 | 1,512.72 | 1,677.41 | 1.06 | 1.32 | 0.99 | 1.17 |
* Share prices have been divided by 10 due to compulsory stock split by Qatar Exchange. UDC implemented stock split from 3rd July 19. @ Share volume has been multiplied by 10 due to compulsory stock split by Qatar Exchange.
Currency
Ticker code ISIN code
QAR
UDCD
QA000A0KD6M9
1.66 | Closing Price (QAR)* | |
1.52 | 1.54 | |
1.30 | ||
1.07 |
Number of Shares
3,540,862,500
Jan'19 - Dec'19 | Jan'20 - Dec'20 | Jan'21 - Dec'21 | Jan'22 -Dec'22 | Jan'23 -Dec'23 |
* Share prices have been divided by 10 due to compulsory stock split by Qatar Exchange. UDC implemented stock split from 3rd July 19.
Historical performance shall not be relied on as a guide to future performance.