United Development Company is approaching full occupancy of its rental properties on The Pearl Island

20-06-2022


The United Development Company, one of the leading public shareholding companies in the State of Qatar and the main developer of the islands of The Pearl and Gewan, announced that it is close to achieving full occupancy of its residential properties offered for rent on The Pearl Island, which number 1,123 housing units, where the current occupancy rate is 93%, including units Leased and those reserved for rent.
The real estate portfolio of the United Development Company includes various residential units in Porto Arabia, Medina Centrale and Canal Quartier, in addition to the United Towers in Viva Bahriya and the Giardino Gardens complex, where 73 villas have been rented out of a total of 80 villas since the opening of the complex in September 2021.
While overall residential occupancy on The Pearl Island is at an all-time high with 52,000 residents, UDC reported a significant increase in demand for rental housing units this year, in the run-up to the 2022 World Cup. The UDC had allocated 318 A housing unit was submitted to the Supreme Committee for Delivery & Legacy in Medina Centrale for use in the World Cup, and 58 fully furnished and all-inclusive apartments were offered for short or long-term rent on the Pearl Island to ensure the comfort of visitors to the world's most prominent sporting event.
The retail business on the island has also rebounded since the beginning of the year, with 17 stores opening and an additional 31 announced by the end of the year, bringing the total number of active shops and restaurants to 360 brands covering approximately 158,000 square meters.
According to the United Development Company, the Pearl Island is expected to register the entry of 19 million vehicles in 2022, an increase of 13% over the numbers recorded in 2021, which reflects the Pearl Island's preservation of its leading position as a major destination for residents, visitors and tourists.


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