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Pearl-Qatar developer appoints new chair

Former Minister of Transport appointed for three-year term

NEWS, Business, Pearl Qatar, United development company

The developer of The Pearl project in Doha has announced the appointment of a new chairman.

Sheikh Ahmed bin Nasser bin Faleh Al Thani has taken over the board's top spot for a three-year term, replacing outgoing chairman Hussein Al Fardan. Turki Mohammed Khaled Al Khater has been elected as vice-chairman.

Sheikh Ahmed has held several key government and private sector posts.

He is a former Minister of Transport and Communications, and has been chairman of Qatar International Airport, Qtel, and Gulf Airlines.

He is also currently a major shareholder in, and board member of, Commercial Bank of Qatar.

Last month, UDC reported a revenue of $749.8 (QR2.73bn) for 2012, compared to $524.6 (QR1.91bn) for 2011. Net profit increased 32% to $233.4m (QR850m) , compared to 2011, excluding revaluation gain on investment properties amounting to $177.1m (QR645m), the profit attributable to company owners stood at $200.5m (QR730m). 

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Sep 01, 2020