14-09-2020
United Development Company announced that it has renewed the credit facilities agreement with the Qatar National Bank as follows:
• Purpose: to provide liquidity for the development of Company’s projects.
• Total value of the Loan: QAR 728 million.
• Method of settlement: one payment after 3 years.
• No negative impact on the Company’s financial position.
• Contribution to the supply of general credit facilities with no risks.
• No conflict of interests among the parties involved in the transaction.
• No change in the ownership ratios before and after the transaction.