UDC SIGNS DEAL WORTH QR730 MIL­LION WITH CBQ

Qatar Today - - BUSINESS > REALITY CHECK -

In yet an­other move aimed at its flag­ship project, United De­vel­op­ment Com­pany (UDC) inked a fi­nan­cial agree­ment worth QR730 mil­lion with the Com­mer­cial Bank of Qatar for the con­struc­tion of Al Mu­tahi­dah Tow­ers at The Pearl- Qatar. The deal was signed by UDC Pres­i­dent and CEO Ibrahim Al Oth­man and Com­mer­cial Bank CEO Joseph Abra­ham.

“The sign­ing of this fi­nanc­ing agree­ment is aligned with the com­pany's strat­egy of sup­port­ing its in­vest­ment projects through ad­e­quate fund­ing. I'm ex­tremely de­lighted with the con­tin­u­ous fruit­ful co­op­er­a­tion we have with Com­mer­cial Bank for its in­te­grated bank­ing ser­vices that are ben­e­fi­cial to both par­ties,” said Al Oth­man.

Al Mu­tahi­dah Tow­ers are made up of con­nected tow­ers of­fer­ing 480 res­i­den­tial units which in­clude stu­dios, lux­ury apart­ments and re­tail stores de­signed to meet the needs of res­i­dents. The unique fea­tures of the tow­ers are panoramic sea views and di­rect ac­cess to the beach, in ad­di­tion to up­scale ser­vices and recre­ational ameni­ties. The project is ex­pected to be com­pleted in the fourth quar­ter of 2019.

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