United Development Company (UDC) was established in July 1999 as a public shareholders company in the State of Qatar, in the Middle East, and has been listed on the Doha Securities Market since June 2003. From day one, the company’s mandate and mission has been to become a cornerstone of the development of Qatar, creating lasting value and maximizing returns for partners and shareholders. Through a combination of substantial project activities and commercial enterprise, UDC has made substantial progress toward becoming the first-choice private sector joint venture partner for international investors in Qatar. In The Pearl-Qatar, UDC is not only building a new island, it is creating a new cosmopolitan residential community of some 35,000 persons and an attractive and very accessible visitor destination. With an estimated total cost including dredging, reclamation, infrastructure and buildings, of QR 9 billion, The Pearl-Qatar is currently UDC’s largest and highest profile project. It is also the largest and the first international real estate development project in the State of Qatar.