United Development Company (UDC) has signed a sale and purchase agreement with property developer, Al Qamra Holding, for the sale of a residential tower plot in Viva Bahriya precinct at The Pearl-Qatar.
UDC president and CEO Ibrahim Jassim al-Othman, who signed the agreement yesterday with Al Qamra Holding chairman Hamad Saleh al-Qamra, said: “This sale agreement is proof of investor confidence in Qatar’s ever thriving property market and in The Pearl-Qatar as an iconic development that is best placed to absorb the
growing local demand.”
For his part, al-Qamra said: “We are pleased to partner with UDC and invest in Viva Bahriya as an elegant and peaceful district, which appeals to a target of selective residents.
“The Pearl-Qatar, besides being one of the country’s landmark sites and most sought after living destinations, offers additional value for island property owners and investors, including the close proximity of the beaches, leisure facilities, world-class restaurants and entertainment centres, complemented by the scenic panoramic sea views.”
Plot VB 25, covers 7,180sq m of land and boasts a total residential area of 33,541sq m, in addition to the 10,484sq m allocated for car parking. Once completed, the tower will add to the exquisite residential landscape of the enviable beachfront location of Viva Bahriya.
Viva Bahriya is architecturally-themed to echo the very best of the Arab Maghreb with Moroccan-styled townhouses and apartments exuding Moorish elegance. It is perfect for families and all who seek a more relaxed lifestyle and complete with its own stretch of pristine beach.
Speaking to Gulf Times on the sidelines of the contract signing, UDC director of Marketing and Communications Hussain Akbar al-Baker said: “The agreement provides great impact for UDC. Since it is a listed company, it will help increase share value of the company.”
He added: “Since UDC is doing well, there is confidence from investors. The sale of the tower plot gives people the confidence to invest at The Pearl-Qatar, considering that UDC’s ongoing projects here are well-positioned to be a market leader because of the variety of offers in one location.”
UDC, a leading Qatari shareholding company and master developer of The Pearl-Qatar, is also extending the district with the addition of its new iconic development, “Abraj Al Mutahida,” which features apartments suspended between the two tower blocks.
It is among UDC’s variety of other residential and commercial properties in Qanat Quartier, Medina Centrale, Abraj Quartier, and Porto Arabia currently showcased at Cityscape Qatar 2016, which concludes today.