UDC gains on multi-million Pearl Qatar towers contract
- Qatar: Sunday, March 10 - 2013 at 16:09
The Doha-based Qatar Exchange 20 Index closed 0.17% higher at 8,520.94 points Sunday. United Development Company or UDC advanced 0.86% higher at QR17.50. Earlier in the day, UDC said it has signed a QR795m ($218m) contract with a leading Qatari construction company to build the two Abraj Quartier AQ01 and AQ02 Gateway Office towers at the man-made island The Pearl-Qatar. UDC added "Standing high at around 201 meters on opposite sides of the main access road to The Pearl-Qatar, the two 40-storey towers will boast a buildup area of more than 230,000sqm." Construction works started on Feb. 15, 2013. The project is expected to be completed end of January 2016.
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