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FINANCIAL NEWS
Qatar- Developer UDC to raise USD428m loan from QNB
16 Jun 2013
(MENAFN) United Development Co (UDC) stated that it plans on raising USD428 million in loans from Qatar National Bank (QNB), reported Arabian Business.
UDC also said that it plans on using the loan to complete the purchase of remaining residential units at Qanat Quartier, currently owned by Pearl-Qatar Real Estate Shariah- Compliant Fund Co.
It is worth noting that the Pearl-Qatar (TPQ) is an artificial island spanning nearly four million square metres. It is the first land in Qatar to be available for freehold ownership by foreign nationals. In 2012, TPQ had more than 5000 residents.
More News
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CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
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