United Development Company (UDC), the master developer of The Pearl and Gewan islands in Doha, reported a 35.9% fall in net profit attributable to shareholders to QR156.48 million for the nine months to September 30, 2026, from QR244.29 million a year earlier, according to its disclosure to the Qatar Stock Exchange.
Earnings per share fell to QR0.044 from QR0.069, the state news agency QNA reported. Revenue for the period was QR1.259 billion, the company said in a results statement.
UDC had reported net profit of QR119.1 million for the first half of 2026, against about QR147.1 million in the same period of 2025.
Chairman Ahmed bin Ali Al Hammadi said the company’s resilience rested on the strength of its investment portfolio and its long-term growth strategy, at a time of geopolitical challenges and rapid market shifts.
Chief Executive Yaser Salah Al Jaidah said the third quarter showed continued activity across residential sales and leasing and commercial occupancy. He said the company’s priority for the final quarter was to turn demand into more commercial opportunities while advancing its main development projects.
The company completed 139 leasing transactions across its portfolio in the third quarter, according to the statement carried by Al Arab. Sales during the quarter included a luxury villa, completed residential units on The Pearl Island, land expansion revenue and apartments at the Crystal Residence project on Gewan Island.
On The Pearl Island, demolition and site preparation were completed at the Perlita Gardens project, along with design work ahead of the next construction phase. UDC said it would announce the contractor appointment and start of construction in due course.
On Gewan Island, UDC completed a 142-space parking project on the waterfront and beach areas, while construction continued on the Corinthia Gewan Island hotel and the Solimar Beach Club.
