UDC Approves Purchase of "Perlita Villas" Project for QR 625 Million

Doha, November 25 (QNA) - As part of its continuous efforts to expand and diversify its business portfolio, United Development Company (UDC), a leading Qatari public shareholding company and master developer of The Pearl and Gewan Islands, held its Extraordinary General Assembly Meeting on Tuesday to discuss and approve several strategic resolutions that support the company's future growth and expansion plans.
The assembly commenced with the approval of the agenda of the Extraordinary General Meeting, followed by the approval to purchase the "Perlita Villas", a project at The Pearl Island for QR 625 million and develop it. This decision comes in line with UDC's strategy to enhance its investment portfolio and strengthen its presence in the real estate sector through sustainable growth and diversified revenue streams.
The assembly also approved amending Article (3) of the Company's Articles of Association to include new activities covering real estate development for residential and commercial buildings.
The meeting concluded with the assembly approving granting the Chairman of the Board the authority to approve and execute the necessary amendments in accordance with the applicable legal procedures.
United Development Company is one of Qatar's leading public shareholding companies. Its mission is to identify and invest in long-term projects that contribute to the nation's progress and deliver sustainable value to its shareholders. Established in 1999 and listed on the Qatar Stock Exchange in 2003, UDC has an authorized share capital of QR 3.5 billion and total assets of QR 18.5 billion as of September 30, 2025. The Company's operations cover a wide range of vital sectors, including real estate development, property management, infrastructure and utilities, district cooling, marine-related businesses, and hospitality. (QNA)