United Development Co. (UDCD) is poised for the biggest gain in more than seven years after the Qatari investor said nine-month profit more than quadrupled.
The shares soared 10 percent to 20.91 riyals at 10:08 a.m. in Doha and are headed for the biggest increase since July 2004.
The company said Oct. 20 net income surged to 1.8 billion riyals ($494 million) from 443.6 million riyals a year earlier.
To contact the reporter on this story: Zahra Hankir in Dubai at firstname.lastname@example.org
To contact the editor responsible for this story: Claudia Maedler at email@example.com