UDC SIGNS DEAL WORTH QR730 MILLION WITH CBQ
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.