Doha Bank signs agreement with UDC Property Investments

Under this arrangement, Doha Bank extended housing loans for purchase of residential properties at The Pearl-Qatar Island. Officials from Doha Bank and UDC, a leading Qatari public shareholding company, and the owner and developer of the flagship urban development project, The Pearl-Qatar, have signed the Agreement at the Head Office of Doha Bank.

The association between Doha Bank and UDC will facilitate easy financing options to the prospective buyers for owning residences at the over QR50bn ($14bn) Pearl-Qatar development. Doha Bank has customized the financing scheme for purchase of properties at the Island to suit customers' personal requirements with flexible repayment and disbursement options.

On this occasion, Mr. Abdul Rahman Mohamed Al Meer, Head of retail Banking said that Qatar has become the favorite destination for investment in the entire Middle East. "We are proud to participate in financing residential properties in the country's premier residential project, together with UDC we will offer the best for our customers. Our Housing Loan Scheme is the best in the market today and is available to both Qatari nationals and expatriates. The Bank has developed a unique concept by setting a "Real Estate Lounge" aiming at providing advice on available properties in the market and financing details at its Real Estate Lounge, City Center branch."

Currently, Doha Bank extends housing loans to both Qatari nationals and expatriates for purchase/construction of residential properties in the State of Qatar and United Arab Emirates, through its branch in Dubai. Doha Bank's repayment period extends to 30 years, considered as the longest tenor offered by any Bank in the country with the lowest down payment of only QR100,000 with best rate of interest.