United Development Company offers homeowners Costa Del Sol on Viva Bahriya

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Notes and media contacts

About The Pearl-Qatar:

The Pearl-Qatar is an offshore, Riviera-style man-made island, covering 985 acres of reclaimed land with an estimated cost in excess of QR50bn ($14bn). It is Qatar's first international urban development venture, one of the largest developments in the country and the first to offer freehold and residential rights to international investors. It will create over 32 kilometers of new coastline.

The Pearl-Qatar's name and location, on a former pearl diving site, highlights the country's traditions, and strong historical and cultural ties to the sea. It is an island rediscovered.

The Pearl-Qatar will eventually house over 41,000 residents in an up-scale, multi-cultural residential community which will be a secure and exclusive island retreat bringing the ambience and lifestyle of the Mediterranean to the heart of Arabia.

Spanning over approximately 4-million square meters of land, and over 32 kilometers of new coastline, The Riviera Arabia themed districts will also include 3 five-star hotels, two boutique hotels, three marinas with combined mooring for over 1000 boat and, a yacht club, schools, restaurants and lifestyle amenities, and two million square feet of upscale retail space proffering some of the world's most renowned luxury brands.

Built 350 meters offshore of the West Bay Lagoon area of the country's capital, Doha, the Island will offer an exclusive retreat with easy access to the capital's thriving community.

The Pearl-Qatar is being developed and promoted by United Development Company (UDC), one of Qatar's leading private sector shareholding companies.

About United Development Company:

United Development Company (UDC) is one of Qatar's leading public shareholding companies. UDC's mission is to identify and create opportunities that contribute to Qatar's growth and provide good shareholder value. The Company was established in July 1999 and has an authorized share capital of QR1.0725bn ($294m). It was listed on the Doha Securities Market in June 2003.

UDC's target areas of interest include: infrastructure and utilities, hydrocarbon and energy, urban development, environment-related businesses, fashion, and hospitality and leisure.

From day one, the Company's mandate and mission has been to become a cornerstone in the development that the region is currently witnessing; creating lasting value and maximizing returns for partners and shareholders. Through a combination of project activities and commercial enterprise, UDC has developed into the first-choice private sector joint venture partner for international investors in Qatar, and has successfully established new companies and investment vehicles across the region.

Since 1999, UDC has moved from project research into development, production and operations. Project research has culminated into the successful creation of companies that are amongst the leaders in their related fields of industry. The Company prides itself in its ability to create quality investment opportunities both at home and overseas. The company is empowered to invest in financial instruments in Qatar.

UDC's founders, who at launch held 45% of the shares, are among Qatar's most successful investors and developers. Other Qatari and GCC investors are also shareholders in UDC.

For further information, kindly contact:

Mira El-Baphe
Senior Media Relations Officer
United Development Company
Tel: +974-5970433
Fax: +974-4438971