United Development Contracts with Barwa Bank to Finance
New Constructions Worth QAR 375 Million in Pearl Qatar
23 June
2020
United Development Company ‘UDC’ announced that it has signed off an
agreement for the financing of new projects in the Pearl Island Qatar.
The projects included the construction of the United School
International, Giardino Village Gate Compound and the housing tower.
In a statement by UDC, the company stated more details on the
project as follows:
·
The objective of
the project is to develop the school, the Giardino village and the
housing tower in the Pearl Island Qatar.
·
Total
transaction value is QAR 375 million.
·
Settlement
method will be installments-based on nearly 9 years. The
·
The financing
agreement was entered to with Barwa Bank.
·
Pros of the
project will be the participation in the completion of the development
of the said projects in the Pearl Island and no cons exist.
·
No conflict of
interest among the parties participating in the transaction
·
No variation in
the ownership percentages prior to and after the transaction.