Qatar's Top 30 Companies
Fri 05 Sep 2014 01:51 PM
United Development Company
19

United Development Company

Industry: Property

Designation: Turki Al Khater, chairman and managing director

UDC has actually changed its leadership twice in the last year. First Ebrahim Mubarak Al Sulaiti stepped down as CEO in November, then replacement Badr Al Meer quit as acting CEO in June — leaving chairman Turki Al Khater in charge. All in all, the company that built and operates the Pearl Qatar has now had four bosses in two years. Those management changes reflect a tough period for the firm, although things now appear to be looking up. UDC reported a 34 percent growth in net profit to $143m during the first half, no doubt helped by the sale of 47 plots of land worth $398m.