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Qatar : UDC signs new loan agreement with series of banks

August 30, 2014

The developer behind The Pearl-Qatar, United Development Company (UDC) has entered into a new loan agreement with a series of banks.

The loan agreement is worth $120 million.

The Commercial Bank of Qatar arranged the three years deal, which replaces an earlier loan agreement that expired on August 21.

In April, UDC was agreed to sell 47 plots of land for QR1.45 billion.

The 103,000 square metres of land was sold to an anonymous strategic partner and would be transferred later in 2014.

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Source: TendersInfo (India)

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