United Development Co Partners with Al Rayan Bank to
Develop Villas Compounds in Floresta Gardens – Pearl – Qatar
13 July
2020
United Development Company announced that it has entered into a
financing contract with Al Rayan Bank for the development of housing
villas compounds in Floresta Gardens Zone in the Pearls Qatar. Below,
major info on the transaction:
·
Transaction
objective: Development of housing compounds and infrastructure in
Floresta Gardens zone in Pearl – Qatar.
·
Total value of
the transaction: QAR 353 million
·
Payment method:
Instalments on 10 years.
·
The contract is
entered into between United Development Company and Al Rayan Bank
·
No negative
impact on the Company’s financial position as a result of the
transaction
·
Pros of the
transaction is the participation to compliment the development of
housing villas and infrastructure in Floresta zone in the Pearl Qatar.
No identified cons or risks.
·
No conflict of
interest among the parties involved in the transaction.
·
No change in the
ownership structure before and after the transaction.