Qatar's UDC inks $203m finance deal for The Pearl

Medina Centrale is part of The Pearl project, a string of man-made islands in Doha, Qatar

Medina Centrale is part of The Pearl, a string of man-made islands in Doha.
Medina Centrale is part of The Pearl, a string of man-made islands in Doha.

Qatar's United Development Company (UDC) has signed a financing deal to borrow $203m (QAR738m) from Qatar National Bank and Commercial Bank of Qatar.

The money will be used to fund its Medina Centrale project, the company said in a bourse statement without elaborating.

Medina Centrale is part of The Pearl, a string of man-made islands in Doha.

The Pearl is the first land in Qatar to be available for freehold ownership by foreign nationals.

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