The Pearl-Qatar signs multimillion QR deal with Retaj for Qanat Quartier

Notes and media contacts

About The Pearl-Qatar:

The Pearl-Qatar is an offshore, Riviera-style man-made island in excess of QR50bn ($14bn) and one of the largest urban developments in Qatar, as well as the first to offer freehold and residential rights to international investors.

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.

Located 350 meters offshore the country's capital, Doha's, prestigious West Bay District and 25 kilometers away from Doha International Airport, the Island offers an exclusive retreat with easy access to the capital's thriving community.

Spanning over approximately 4-million square meters of land, and 32 kilometers of new coastline, the Island will eventually be home to an upscale multicultural community of over 41,000 residents, and comprising 15,000 dwellings within 10 precincts when completed in 2012.

The Island will also include five-star hotels, marinas, 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.

The Pearl-Qatar is a smart investment that adds to the economic strength of the country with its offerings of full residency rights, freehold ownership, tailored payment schemes and a tax-free haven.

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.

Further information from:

Mira El - Baphe
Sr. Public and Media Relations Officer
UDC Qatar
T (+974) 44 63 457