Doha – Mubasher: United Development Company (UDC) renewed a facility agreement with Qatar National Bank (QNB) with a ceiling of QAR 728 million ($199.96 million).
The company said that the decision came after recommendations by its financial department on the credit facilities, extended by QNB, for the infrastructure of electricity and water in the Pearl-Qatar island, according to a bourse filing.
Last October, UDC signed a deal worth QAR 737.994 million with Qatar National Bank (QNB) and the Commercial Bank of Qatar (CBQ) to fund the company’s Medina Central project.
