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UNITED DEVELOPMENT COMPANY
Q3 2019 Results
September 2019
Table of Contents
2
▪ Overview of the Company
▪ Financial Performance
▪ Key Projects
▪ Business Segments Overview
▪ Key Highlights
▪ Additional Information
▪ Share Information
▪ Dividend Payout
▪ Corporate Governance
3
4 - 6
7
8
9
10
11 - 18
19
21
Contents Page No.
▪ Board Members
22 - 26
▪ Major Operating Assets 20
United Development Company (UDC) is a leading Qatari public shareholding company with a mission to identify andinvest in long-term projects contributing to Qatar’s growth and providing good shareholder value. Established in1999, the Company was first listed on the Qatar Exchange in June of 2003. It has an authorized share capital of QR 3.5billion and total assets of QR 18.5 billion at 30 September 2019.
From day one, the Company actively contributed in the development of the State of Qatar, rapidly evolving into aleading Qatari Public Shareholding Company and has successfully established a group of various good performinginvestments.
Through a combination of project activities and commercial enterprise, UDC and its subsidiaries have accumulated alarge amount of specific experience including detailed knowledge of real-estate development, property management,hospitality and maritime, infrastructure and utilities.
UDC’s flagship project is The Pearl-Qatar, an urban mixed-use, man-made island development. Located 350 metersoffshore of Doha’s prestigious West Bay District, The Pearl-Qatar is one of the largest real estate developments in theGulf.
UDC is also in the process of developing Gewan Island located adjacent to The Pearl-Qatar Island, into the Company’slatest world class residential, commercial and entertainment project. This development has the potential of becominga magnificent destination that will maintain UDC’s future growth.
UDC established a business model for synergistic growth, creating and operating a diverse portfolio of substantialrelated businesses that leverage off one another and generate sustainable earnings.
United Development Company (UDC), has added two prestigious new accolades to its list of honors at the ArabianProperty Awards 2019-2020. The awards are: “Best Mixed-Use Development Award” for The Pearl-Qatar and“Commercial High-Rise Development Award” for UDC Tower
Overview of United Development Company
3
Board of Directors
4
Mr. Abdulrahman Abdullah Al – Abdulghani
Vice Chairman
H.E. Mr. Turki bin Mohammed Al-Khater
Chairman
Mr. Ali Hussain Ibrahim Alfardan
Board Member
Board of Directors Contd…
5
Mr. Abdulaziz Mohammed Hamad Al Mana
Board Member
Mr. Abdulrahman Saad Al-Shathri
Board Member
Mr. Nasser Jaralla Saeed Jaralla Al Marri
Board Member
Board of Directors Contd…
6
H.E. Mr. Mubarak Ali Mubarak Al-Nuaimi
Board Member
H.E. Sheikh Faisal Bin Fahed Al Thani
Board Member
Mr. Ibrahim Jassim Al Othman
Board Member & President & CEO
Key Highlights
16th July 2019Awards UrbaCon Trading &
Contracting Co. & PromarMarine Contracting Co. the contract of executing the
marine works at Gewan Island
12th June 2019UDC Wins Two New Accolades at
the “Arabian Property Awards 2019-2020”. “Best Mixed-Use Development Award” for The Pearl-Qatar and “Commercial
High-Rise Development Award” for UDC Tower
12th June 2019Ministry of Interior and
United Development Company sign MoU to
promote traffic safety across The Pearl-Qatar
07th April 2019UDC launches 4th & final sales phase of Al Mutahidah Towers
– Viva Bahriya 28 at The Pearl-Qatar
28th April 2019UDC announces the launch of the sale of 10 tower plots in
Floresta Gardens at The Pearl-Qatar
18th July 2019UDC names Orbital Education
Company as operator of United School International in
The Pearl Qatar
18th July 2019Awards Al Darwish
Engineering the contract of construction of United International School
18th July 2019Awards Ramaco Trading & Contracting the contract of Design & Construction of
gated compounds in Floresta Gardens
15th August 2019UDC was presented with the
“Best Employer Brand Award” and the award for “Best HR
Strategy in Line with Business”
24th July 2019United Development Company signs agreement with QNB and
The Commercial Bank to finance the development of Gewan Island with a credit ceiling of QR 1.250
billion.
24th July 2019United Development Company announces financial results for
the first half of 2019: Net profit of QR 238 million on revenues of QR
912 million
7
Share Information
2.36
2.08 2.07
1.44 1.48
Jan 2014 to Dec 2014 Jan 2015 to Dec 2015 Jan 2016 to Dec 2016 Jan 2017 to Dec 2017 Jan 2018 to Dec 2018
* Share prices have been divided by 10 due to compulsory stock split by Qatar Exchange. UDC implemented stock split from 3rd July 2019.@ Share volume has been multiplied by 10 due to compulsory stock split by Qatar Exchange.# For 2019 data is given till September 2019. Traded Value is calculated using Traded Vol. multiplied by last closing price
PeriodTraded Vol.
(Mn.) @Traded Value
(QAR Mn)
Open Price
(QAR) *High Price
(QAR) *Low Price
(QAR)*
Closing
Price (QAR)*
Jan 2014 to Dec 2014 3,168.19 7,995.57 2.24 3.08 1.97 2.36
Jan 2015 to Dec 2015 709.10 1,663.52 2.36 2.64 1.90 2.08
Jan 2016 to Dec 2016 572.48 1,147.55 2.03 2.24 1.65 2.07
Jan 2017 to Dec 2017 825.59 1,401.05 2.07 2.29 1.25 1.44
Jan 2018 to Dec 2018 924.61 1,401.90 1.44 1.77 1.36 1.48
Jan 2019 to Sep 2019 # 1,265.61 1,839.46 1.48 1.69 1.29 1.33
Share Data:
Currency QAR
ISIN code QA000A0KD6M9
Ticker code UDCD
Number of Shares 3,540,862,480
As per the instructions of the Qatar FinancialMarkets Authority, the extraordinary GeneralAssembly on 26th February 2019 approved a 10 to 1share split whereby new shares with a par value ofQAR 1 each were exchanged for each old share witha par value of QAR 10. This was effected on 3rd July2019 causing an increase in the number ofauthorized and issued shares from 354,086,248 to3,540,862,480
8
Past performance shall not be relied on as a guide to future performance.
Dividend Payout
➢ UDC has been consistently paying cash dividend to investors.
➢ In addition to cash dividend it has also paid stock dividend and issued bonus shares.
➢ The dividend yield % for 2018 was 6.58%. (Based on Dividend of QAR 0.10 and closing share price of QAR 1.52 on the date of AGM, 26th February 2019.
20.0%
25.0%
35.0%
10.0%10.0%12.5%
15.0%12.5%12.5%
10.0%
-
0.05
0.10
0.15
0.20
0.25
0.30
0.35
0.40
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Cash Dividend
9
Year No. of Shares
Cash
Dividend
%
Cash DividendStock
Dividend %Bonus Shares Right Issue
Private
placement
2004 50,000,000 -
2005 82,500,000 - 10% 5,000,000 27,500,000
2006 107,250,000 20.0% 214,500,000 30% 24,750,000
2007 107,250,000 25.0% 268,125,000
2008 107,250,000 35.0% 375,375,000
2009 107,250,000 - 25% 26,812,500
2010 134,062,500 - 20% 26,812,500
2011 160,875,000 - 20% 26,812,500
2012 337,225,000 10.0% 337,225,000 40% 64,350,000 112,000,000
2013 337,225,000 10.0% 337,225,000
2014 354,086,248 12.5% 442,607,810 5% 16,861,248
2015 354,086,248 15.0% 531,129,372
2016 354,086,248 12.5% 442,607,810
2017 354,086,248 12.5% 442,607,810
2018 354,086,248 10.0% 354,086,248
Past performance shall not be relied on as a guide to future performance.
Corporate Governance
As part of the compliance requirement of the Corporate Governance code for listed companies issued by Qatar Financial Markets Authority, UDC as a Qatarishareholding company listed on the Qatar Exchange is required to disclose the extent to which it complies with the provisions of the code. UDC believes thatapplying a proper corporate governance framework and principles is essential to assist the company in achieving its goals with a high performance level inaddition to improving its internal and external working environment, protecting stakeholders’ interests and distributing roles and responsibilities in anideal way.
UDC has a well-developed corporate governance system in place and continuously strives to maintain a good record of compliance with applicable rules andregulations since its inception.
BOARD OF DIRECTORS & BOARD COMMITTEES
The Board of Directors is responsible for the stewardship of the Company and for providing effective leadership and supervision of UDC’s business, whilstowing value in a profitable and sustainable manner. The roles and responsibilities of the Board are defined in the Board Charter. The Board Charter has beenpublished to the public through the Company’s website. The Board’s roles and responsibilities are compliant with the requirements of the Governance Codeof QFMA
Board CompositionThe Board currently consists of nine members, i.e. 3 non-independent, 3 independent and 3 by appointment. The current term of the Board of Directorsstarted on 26th February 2019 and continues for a period of three years through election at the shareholders’ Ordinary General Assembly.
Board CommitteesBoard Committees are established to assist the Board of Directors in conducting their duties. Each committee has developed “Terms of Reference” thatdefine the committee’s roles and responsibilities in accordance with QFMA regulations and leading governance practices.
INTERNAL CONTROL, COMPLIANCE, RISK MANAGEMENT AND INTERNAL AUDIT
The general objective of the internal controls procedures of UDC is to safeguard assets and capital and to ensure the reliability of UDC and its subsidiaries’financial recordkeeping. UDC has adopted a process of internal controls that allow Management to detect errors in procedures or financial recordkeeping.UDC’s internal control framework includes, risk management, internal audit which support in establishing a strong internal control framework.
10
▪ Financial ResultsFinancial Performance
Summary of Financials
12
QAR Millions Year on Year
Key Figures 9M 2015 9M 2016 9M 2017 9M 2018 9M 2019
Revenue 1,230 1,312 1,543 1,288 1,332
Net Profit 620 484 482 416 343
Net Finance Cost 74 65 98 103 88
EBITDA 778 631 687 629 546
Total assets 19,036 18,636 18,229 18,294 18,545
Shareholders' equity 11,265 11,118 11,330 11,074 11,135
Loans and borrowings 4,770 4,633 4,234 3,852 3,474
Key Ratios
Debt/Equity 0.42 0.42 0.37 0.35 0.31
Return on Equity 5.5% 4.4% 4.3% 3.8% 3.1%
Earnings per Share (QAR) 0.17 0.13 0.12 0.11 0.09
Past performance shall not be relied on as a guide to future performance.
• The revenue from operating activities for9M 2019 increased by 3% to QAR 1,332 Mn,as compared to 9M 2018. The increase isdue to increase in the sale of real estateproperties.
• QoQ revenue increased by 5%.
• The Net Profit for 9M 2019 has declined by18% to QAR 343 Mn, as compared to 9M2018. QoQ Net profit has declined by 23%.
Financial Results
219
501 469
399 420
0
100
200
300
400
500
600
Q3 2015 Q3 2016 Q3 2017 Q3 2018 Q3 2019
Revenue for the Quarter (QAR Mn)
43
131
164 137
105
20%
26%
35% 34%
25%
0%
5%
10%
15%
20%
25%
30%
35%
40%
0
20
40
60
80
100
120
140
160
180
Q3 2015 Q3 2016 Q3 2017 Q3 2018 Q3 2019
Net Profit & Margin for the Quarter(QAR Mn)
13
1,230 1,312
1,543
1,288 1,332
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
9M 2015 9M 2016 9M 2017 9M 2018 9M 2019
Revenue for 9 Months (QAR Mn)
620
484 482 416
343
50%
37%
31%32%
26%
0%
10%
20%
30%
40%
50%
60%
0
100
200
300
400
500
600
700
9M 2015 9M 2016 9M 2017 9M 2018 9M 2019
9 Months Net Profit & Margin (QAR Mn)
Past performance shall not be relied on as a guide to future performance.
• EBITDA for 9M 2019 declined by 13% to QAR 546 Mn as compared to 9M 2018 QAR 629 Mn. QoQ EBITDA declined by 18%.
• 9M 2019 EPS declined to QAR 0.09 per share as compared to 9M 2018, QAR 0.11 per share.
• EPS decreased to QAR 0.03 per share vis a vis Q3 2018, QAR 0.04 per share.
Financial Results
94
18
0 24
0
21
0
17
3
43%36%
51% 53%
41%
0%
10%
20%
30%
40%
50%
60%
0
50
100
150
200
250
300
Q3 2015 Q3 2016 Q3 2017 Q3 2018 Q3 2019
EBITDA & Margin for the Quarter (QAR Mn)
0.01
0.03
0.04
0.04
0.03
0.00
0.01
0.01
0.02
0.02
0.03
0.03
0.04
0.04
0.05
0.05
Q3 2015 Q3 2016 Q3 2017 Q3 2018 Q3 2019
EPS for the Quarter (QAR)
14
77
8
63
1
68
7
62
9
54
6
63%
48%
45%
49%
41%
0%
10%
20%
30%
40%
50%
60%
70%
0
200
400
600
800
9M 2015 9M 2016 9M 2017 9M 2018 9M 2019
9 Months EBITDA & Margin (QAR Mn)
0.17
0.130.12
0.11
0.09
0.05
0.07
0.09
0.11
0.13
0.15
0.17
0.19
9M 2015 9M 2016 9M 2017 9M 2018 9M 2019
EPS for 9 Months (QAR)
Past performance shall not be relied on as a guide to future performance.
• The net debt for 9M 2019 has decreased by 10% to QAR 3,474 Mn as compared to 9M 2018;
• The Debt Equity Ratio for 9M 2019 is 0.31;
• 9M 2019 total assets have increased by 1% to QAR 18,545 Mn vis a vis 9M 2018 which was QAR 18,294 Mn;
• 9M 2019 total liabilities as compared to 9M 2018 have increased by 3%;
• Total Equity for 9M 2019 has increased by 1%.
Financial Results
15
4,7
70
4,6
33
4,2
34
3,8
52
3,4
74
6.13
7.35
6.16 6.12 6.36
-
1,000
2,000
3,000
4,000
5,000
6,000
9M 2015 9M 2016 9M 2017 9M 2018 9M 2019
Net Debt & Net Debt/Profit
Interest-bearing loans and borrowings Loan/Profit
19,0
36
18,6
36
18,2
29
18,2
94
18,5
45
7,77
1
7,51
8
6,89
9
7,22
0
7,41
0
11,2
65
11,1
18
11,3
30
11,0
74
11,1
35
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
9M 2015 9M 2016 9M 2017 9M 2018 9M 2019
Financial Position
Total Assets Total Liabilities Total Equity
23% 24%16% 16% 16%
45% 45%47% 49% 49%
2% 3%8% 10% 13% 13% 16%
25% 19% 20% 17% 14%
9M 2015 9M 2016 9M 2017 9M 2018 9M 2019
Total Assets
Property, Plant & Equipment Investment Properties
Work in Progress Accounts Receivable
Others
Past performance shall not be relied on as a guide to future performance.
Consolidated Debt Maturity Profile
➢ The debt for 9M 2019 amounts to QAR 3,474 Mn (Net of arrangement fees).
➢ Short Term Loans of QAR 1,219 Mn includes a debt of QAR 728 Mn to be matured on 31st March 2020 which would be renewed.
Financial Results
16
1,219
2,255
0
200
400
600
800
1000
1200
1400
1600
1800
2000
Current - Int. bearing Loans & Borrowings Non - Current - Int. bearing Loans &Borrowings
Past performance shall not be relied on as a guide to future performance.
Segmental Financial Results
17
833 905
343 282
-
200
400
600
800
1,000
9M 2018 9M 2019
Urban Development
Revenue Profit
324 319
73 62
-
50
100
150
200
250
300
350
9M 2018 9M 2019
Infrastructure & Utilities
Revenue Profit
17 18
(18)
(7)
(20)
(15)
(10)
(5)
-
5
10
15
20
9M 2018 9M 2019
Hospitality & Leisure
Revenue Profit
135 128
38 26
-
20
40
60
80
100
120
140
160
9M 2018 9M 2019
Others
Revenue Profit
Past performance shall not be relied on as a guide to future performance.
Segmental Financial Results
18
833 90
5
17
18
324
319
135 128
-
100
200
300
400
500
600
700
800
900
1,000
9M 2018 9M 2019
Revenue Breakdown (QAR Mn)
Urban Development Hospitality & Leisure
Infrastructure & Utilities Others
68%
1%
24%
10%
% of Revenue Breakdown
Urban Development Hospitality & Leisure
Infrastructure & Utilities Others
343
282
(18) (7)
73
62
38 26
(50)
-
50
100
150
200
250
300
350
400
9M 2018 9M 2019
Profit Breakdown (QAR Mn)
Urban Development Hospitality & Leisure
Infrastructure & Utilities Others
Past performance shall not be relied on as a guide to future performance.
Business Segments Overview
UDC business segment is driven by existing and ongoing real estate developments. Currently United Development Company (UDC) hasdifferent projects lined up which would ensure to maintain profitability targets and profit growth going forward. UDC’s main business strategyis to focus on the growth of recurring revenue to sustain profitability and maintain dividend payout.
The revenue stream of UDC is mainly comprised of sale of land and residential units and leasing of residential and retails units and mastercommunity service charges.
UDC is focusing on the core business, by investing in new real estate developments including Gewan Island and enhancing existing real estatedevelopments.
• Increase residential density and efficient land utilization
• Development of residential projects with optimum sell and lease revenue models
• Development of commercial projects with focus on recurring revenue – Showroom, Mall, Retail, etc.
• Development of community driven projects – Gated Compounds for leasing purpose and recurring revenue, School, Medical Facility, golfcourses and recreational clubs.
• Maintaining cash flow and sustaining dividend payout levels.
• Improving revenue and earnings quality.
• Maintaining sustainable leverage / coverage metrics.
19
Porto Arabia Retail & Residential Operations:The entire Porto Arabia district forms a single, mixed-use property development comprising residential apartments and townhouses, ample retail space,private marinas and ample parking. Income is generated from leasing of the various retail and residential components of the property. The retail andresidential properties are diverse and the properties classified for leasing are comprised of the below asset class mix:• Approximately 120 units for residential leasing.• Approximately 76,000 sqm retail area.
Medina Centrale Retail & Residential OperationsMedina Centrale is located in the center of the Pearl Island and considered the vibrant community center of the Pearl. Nestled between the residential,shopping and dining district of Porto Arabia and the relaxed, family-oriented beachfront community of Viva Bahriya, the entire Medina Centrale districtforms a single, mixed-use property development comprising residential apartments, ample retail space and ample car parking spaces.Medina Centrale asset class mix:• Approximately 538 units for residential leasing.• Approximately 64,000 sqm retail area excluding dinning terraces.
Qanat Quartier Retail & Residential OperationsQanat Quartier district forms a mixed-use property development comprising residential apartments, townhouses, retail space and access to sandybeaches. Income is generated from leasing of the various retail components of the property. The properties held and maintained by UDC are classified forleasing are diverse and comprise of the below asset class mix:• Approximately 515 units for residential leasing.• Approximately 30,000 sqm retail area excluding dinning terraces.
UDC TowerThe property is ideally placed at the entrance of the Pearl in Abraj Quartier with proximity distance to the prime residential, retail and entertainmentofferings located in the adjoining Porto Arabia and Qanat Quartier districts. The tower is a high quality commercial office building constructed overground and 42 upper floors. Connected to the tower is an eight floor podium parking structure and building services, which can be accessed from thetower at ground floor level via a total of 15 elevators catering to various floors of the tower.
The office space has been constructed as core and shell, providing the opportunity for respective tenants to design their own specialized finishing basedon their respective needs. The floor plates are designed to offer large uninterrupted leasable office areas suitable for lager full floor tenants. The buildingis of concrete frame construction with imitation sandstone cladding and glazed elevations, surmounted by a flat roof, incorporating a decorative spheredesign, consisting of:• 8 levels of podium parking with 971 parking spaces• Built-up Area of 114,740 sqm and net leasable area of 54,332 sqm.• More than 2,800 sqm of retail space
Major Operating Assets
20
Key Projects
UDC currently has an investment ofapproximately QAR 5.5 Bn in pipeline.
The table gives an insight of the major ongoingdevelopments:
*UDC Showroom (#4) is currently named The Pearl Commercial Showrooms
Project Investment Value
Gewan Island QR 2.9 Bill
Giardino Mall QR 140 Mill
Giardino Village – United School International QR 350 Mill
Giardino Village – Infrastructure & Residential Development QR 340 Mill
Floresta Precinct Infrastructure & Residential Compounds QR 860 Mill
The Pearl Commercial Showrooms QR 92 Mill
Al Mutahida Towers QR 760 Mill
Total QR 5.5 Billion
21
▪ Financial ResultsAdditional Information
Qatar Cool➢ Qatar District Cooling Company (Qatar Cool) founding shareholders are the United Development Company PSC (UDC) (51%) and the National District Cooling Company
(Tabreed) of the United Arab Emirates (44%) and other local prominent shareholders (5%).
➢ District cooling reduces the demand for electricity and is a cost effective and environment friendly way of providing cooling systems.
➢ Including the recently constructed plant in the West Bay Area, Qatar Cool has four cooling plants currently in operation, one serving The Pearl-Qatar and three serving the
West Bay District. The latest plant in West Bay has been built to the Leadership in Energy and Environmental Design (LEED) silver standard, which makes it the first LEED
certified cooling plant in Qatar. All Energy Transfer Stations (ETS) are linked to the plant through a Fiber Optic Communication Network allowing for centralized
monitoring and control of district cooling for The Pearl Qatar development.
➢ Qatar Cool is the leading cooling provider in the country, having won numerous awards since its inception fifteen years ago, many of which are international recognitions
for providing sustainable energy solutions.
➢ With supply contracts with terms for over 20 years, Qatar Cool provides a stable revenue stream for the UDC Group
Major Subsidiaries
West Bay Plants:The total area served is more than 1.9 Mn Sqm (20 Mn Sft), the lengthof the Pipe Distribution Network (PDN) is 28 kilometers (17 miles) ofunderground supply and return pipelines with pre-insulated steelpipe.
The three plants are connected to the network and currently servingover 58 towers of Doha’s West Bay skyline. They have a combinedcooling capacity of 107,000 tons of refrigeration (TR).
The Pearl Qatar Plant:The Integrated District Cooling Plant (IDCP) that serves The Pearl-Qatar wasinaugurated in November 2010 and is the largest cooling plant in the world andthe eco-friendliest technology in use on the Island.
With a capacity of 130,000 Tons of Refrigeration, the total area served is 3.9 MnSqm (41 Mn Sqft), the length of the Pipe Distribution Network (PDN) is 92kilometers (57 miles) of underground supply and return pipelines with pre-insulated steel pipes with diameters ranging between 75 mm to 1400 mm. Thenetwork has one (1) boosting station.
23
Major Subsidiaries Contd..
Madinainova
➢ Madinainova is as a single hub to attend to the needs ofproperty owners and residents of The Pearl-Qatar and ensurethat a superior quality lifestyle is delivered and experienced interms of community management, facilities management andreal estate registry services.
➢ Madina Innova W.L.L. is engaged in providing real estateregistry and master community services at the Pearl Qatar.
➢ Master Community charges include services such as cleaningof common use facilities, security, landscaping, pest control,maintenance of all mechanical, engineering and plumbingequipment, utilities for all common use properties and wastemanagement.
24
Major Subsidiaries Contd..
Ronautica Middle East (RME)
➢ Ronautica Middle East (RME) is well known in the region for providing dependable marina management and nautical services.
➢ In addition to developing and operating The Pearl- Qatar’s marina infrastructure, Ronautica expanded its water shuttle services in and around The Pearl-Qatar in 2017 byadding the Qanat Quartier canals to its list of destinations served.
➢ Ronautica operates a portfolio of charter yacht services, through its own yachts and third-party service providers including beautiful traditional dhow boats and additionalluxury yachts as needed to support a growing tourist market in the country. The company has also added atmosphere and footfall to The Pearl-Qatar by facilitating theprovision of water sports, certified marine training, and marine logistics services to boat owners and marina customers.
➢ Ronautica will be launching the first exclusive mobile application for the marine industry in Qatar, to facilitate access to services and to create direct communication andmarketing channels with customers.
25
Major Subsidiaries Contd..
Hospitality & Development Company
➢ Hospitality Development Company is specialized in owning, developing & operating hospitality projects.
➢ HDC have managed to transform the Island into one of the most exclusive hospitality destinations in the region. Over the past 10 years, the company has formed allianceswith a number of reputable brands such as Alison Nelson’s Chocolate Bar, MEGU and Burj Al Hamam, as well as creating their own brands such as Arabesque and UrbanJazz Kitchen.
➢ Additionally, HDC has strengthened its marketing and social media exposure, and improved home delivery operations for all its brands.
➢ HDC’s primary focus has been to establish a culture of ‘Guest Hospitality’, which is based on the understanding that “it is our people that make the difference” and can“make or break the business”. With new training and recruitment focuses, HDC has worked towards a single mission statement – To be “the best part of every guest’s day”when they choose to visit any of its venues.
26
Thank You
