Pearl Qatar developer signs new $203m financing deal

United Development Company secured funding from Qatar National Bank and Commercial Bank of Qatar
Pearl Qatar developer signs new $203m financing deal
A model of the Pearl Qatar, Doha.
By Reuters
Thu 01 Oct 2015 11:52 AM

Qatar's United Development Company has signed a financing deal to borrow 738 million riyals ($202.65 million) from Qatar National Bank and Commercial Bank of Qatar, the developer said on Thursday.

The money will be used to fund its Medina Centrale project, the company said in a bourse statement without elaborating.

Medina Centrale is part of The Pearl, a string of man-made islands in Doha.

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