(MENAFN) United Development Company (UDC), the master developer of The Pearl-Qatar, announced it has recorded a net profit of USD153.46 million for the July-September period of 2014, which represents a growth of 11 percent compared to USD138.86 million recorded during the same quarter last year, The Peninsula Qatar reported.
The company, which registered a growth across its various portfolios, also said that it registered a gross profit of USD249.74million during the third quarter of this year, compared to USD205.07 million during the same period in 2013.
UDC attributed this growth to the high level of commitment of management and staff, customer care, market leading products and services and ongoing commitment to customer service improvement.
The company also said that its success is also the result of its successful partnerships, companies and real estate developments, which includes Qatar's only man-made Island, The Pearl-Qatar, which is both owned and developed by UDC and is located 350 meters offshore of Doha's West Bay District and is one of the largest mixed-used urban developments in the Gulf.
"We have achieved good results in the third quarter of the year, thanks to our diligence in improving all aspects of our operations and implementing quality control mechanisms more effectively, therefore attracting more quality-seeking investors to The Pearl-Qatar," UDC Chairman and Managing Director said.
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