15 million vehicles enter The Pearl-Qatar in 2019

United Development Company (UDC), the master developer of The Pearl-Qatar and Gewan islands, announced that nearly 15 million vehicles entered The Pearl-Qatar in 2019, marking an 11% increase from 2018 and 30% increase from 2017. The number of vehicles is tracked through technologically-advanced monitoring devices installed at the entrance of The Pearl-Qatar. These devices registered a daily average of 40,000 vehicles during 2019 and up to 89,000 vehicles entering The Pearl-Qatar on a typical Thursday and Friday. This countincludes visitors, tourists, residents and employees.The increase in visitors to the Island has also contributed to an increase in retail activity at The Pearl-Qatar, evidenced by the subsequent rise in the demand for leasing of shops and restaurants. In 2019, 65 new retail shops opened at The Pearl-Qatar, an 18% increase in leased space versus 2018, across the three main retail hubs in Porto Arabia, Medina Centrale and Qanat Quartier. The Pearl-Qatar is also set to establish upscale hospitality projects including The St Regis Marsa Arabia Island, Four Seasons Resort in Porto Arabia and the Hilton Doha – The Pearl Residences which will be officially inaugurated in February in Abraj Quartier precinct.With these additions offering an estimated 700 guest rooms and serviced apartments, various conference facilities and elegant ballrooms, retail and dining experiences; visitor influx into The Pearl-Qatar is projected to grow at a progressive rate annually, in tandem with the completion of more UDC residential and retail property developments. It is worth mentioning that The Pearl-Qatar is currently home to more than 33,000 residents.As UDC continues to expand its offering, it has launched in 2019 construction works on its new master development ‘Gewan Island’ which features various residential, retail and entertainment facilities.  Gewan Island will accommodate 3,500 residentsin712 residential units of different types and layouts, in addition to 11,000 sqm of retail spaces. The island will also have a golf course with adjacent hotel and beach club, an air conditioned “Crystal” outdoor promenade, parks and green areas. UDC, the master developer of The Pearl-Qatar and Gewan islands, is a leading Qatari public shareholding company with a mission to identify and invest in long-term projects contributing to Qatar’s growth and providing good shareholder value.Established in 1999, the Company was first listed on the Qatar Exchange in June 2003. UDC activities cover a multitude of vital investment sectors including real estate development, property management, infrastructure and utilities, maritime and hospitality related businesses.