United Development Company (UDC) has finalised the sale of The Pearl office Tower 2, one of two iconic commercial towers at the entrance of The Pearl within the Abraj Quartier precinct, to a strategic property investor for QR1.25bn.
“We are satisfied with the closing of the tower’s sales deal and the speedy and efficient handover process commensurate with the quality benchmark recognised by UDC as a leading developer, and The Pearl-Qatar as a destination of choice for lifestyle, business and leisure seekers,” its president and chief executive Ibrahim al-Othman said.
The Pearl Towers are expected to “positively” impact the business dynamics in the vital West Bay area with the looming move-in of office tenants in 2017, he said, without disclosing the details regarding the buyer.
The twin 201-metre high, 42-storey Pearl towers offer amenities and facilities such as 981 car parks, 20 elevators and modern building systems including CCTV monitoring, pneumatic solid waste management and many smart features.
The towers also has a total leasable area of 54,000 sqm each, which overlook the Gulf waters and offer panoramic views of Doha’s West Bay and The Pearl, along with direct access to Doha’s major cities and to the Island’s premier restaurants and retailers as well as the upcoming rail network.
The Pearl-Qatar is one of the largest real estate developments in the country and the first to offer freehold and residential rights to international investors. The Pearl includes five-star hotels, marinas, a yacht club, schools and other services as well as luxury residential property and upscale retail, restaurant and lifestyle amenities.