United Development Company is one of Qatar's largest private sector companies, established in 1999 with over 5,000 shareholders. It has a paid-up capital of QR 1.072 billion and is listed on the Doha Securities Market. UDC has several subsidiaries including The Pearl-Qatar, a $10 billion waterfront development being built on 400 hectares of reclaimed land that will be home to 45,000 residents when completed in 2012. HDC is a UDC subsidiary specialized in developing world-class hospitality projects, with a current portfolio including restaurants, hotels, and resorts being built on The Pearl-Qatar.