Developer signs financing deal for Pearl-Qatar project

19 December 2016

Funding will be used for the Al-Mutahidah Towers development

Local developer United Development Company (UDC) and local bank Commercial Bank have signed a QR730m ($200m) financing agreement for the construction of the Al-Mutahidah Towers project on The Pearl-Qatar.

In November, Leighton Contracting Qatar was awarded the contract to carry out the construction of Al-Mutahidah Towers’ main building. The building has 480 apartments and is located in the Viva Bahriya precinct. Completion is expected in the fourth quarter of 2019. Leighton Contracting Qatar is an affiliate of the UAE/Australian Habtoor Leighton Group.

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