The agreement will finance Abraj Al Mutahida - (Photo Credit: Arabianeye-Reuters)
United Development
UDCD
-0.53%
1.12
-0.01
UDCD
The Commercial Bank
CBQK
0.21%
4.27
0.01
CBQK
Doha - Mubasher: United Development Company announced that it has signed an agreement with the Commercial Bank of Qatar to finance the construction and development of Abraj Al Mutahida in Viva Bahriya, according to a bourse filing.
The deal’s total value equals QAR 730 million, according to the company’s statement to the Qatar Stock Exchange (QSE) on Sunday.
The building and construction of Abraj Al Mutahida project is expected to be completed by the fourth quarter of 2019.
Source:
Mubasher