UDC and Commercial Bank sign MoU to finance Pearl and Gewan Island customers

Ibrahim Jassim Al Othman, UDC Chairman, Managing Director and Board Member, Joseph Abraham, Commercial Banking Group Managing Director, Hussain Akbar Al Baker, UDC Commercial Executive Director, and Hussein Al Abdulla , Commercial Banking EGM, Chief Marketing Officer and Head of Premium Banking, at the MoU signing ceremony in Doha.

Doha: United Development Company (UDC), a leading Qatari joint-stock company, has entered into a Memorandum of Understanding (MoU) with the Commercial Bank (CBQ) with the aim of providing attractive home loans for UDC properties in its flagship developments, The Pearl and Gewan Islands.

In the presence of Ibrahim Jassim Al Othman, Chairman, Managing Director and Member of the Board of Directors of UDC and Joseph Abraham, Managing Director of Commercial Bank Group, the Memorandum of Understanding was co-signed by Hussain Akbar Al Baker, Managing Director Commercial Executive of UDC and Hussein Al Abdulla, Commercial Bank EGM, Chief Marketing Officer and Head of Premium Banking at a ceremony held at the UDC Tower at The Pearl Island attended by senior representatives from both parties.

As part of the agreement, buyers of UDC properties will be able to apply to the Commercial Bank for a home loan of up to 70% of the property’s value and an occupancy term of up to 20 years, while benefiting from fast loan processing and flexible value addition. payment options and plans. These financial arrangements will appeal to those wishing to live in the property themselves, as well as local and international investors, as Commercial Bank offers mortgage loans to non-residents wishing to facilitate home ownership in Qatar.

Commenting on the occasion, Al Othman said, “We are delighted to partner with Commercial Bank to provide financing facilities to our customers in Qatar and abroad, and to complement the current post-payment plan offering. UDC completion. This would mean more choice to take advantage of unparalleled financing solutions, including attractive home loan rates and faster approvals while investing in exquisite, highly sought-after residences in The Pearl and Gewan Islands. In addition, the agreement is part of UDC’s efforts to provide flexible and convenient services to its customers, which further strengthens UDC’s position as a preferred developer and helps attract more investors from the markets. local and international.

Abraham commented: “We are very pleased to partner with UDC to launch their prestigious ‘Crystal Residence’ and provide a range of mortgage solutions tailored to client needs. This extends the strong partnership between UDC and CB to jointly serve their clients with transparent, market-leading financing options.”

As completed units at The Pearl Island continue to be in high demand, Crystal Residence is expected to attract a remarkable number of business and individual investors from Qatar and abroad with its amenity-rich, smart and sustainable features in addition to the unrivaled location at Gewan Island which promises to be Qatar’s most prestigious and exclusive address.

Crystal Residence consists of 15 luxurious mixed-use, six to seven-storey buildings that sit in the heart of Gewan Island in a bustling commercial and residential area, arranged around the pedestrian area and the longer “Crystal Qatar’s air-conditioned walkway.

Crystal Residence consists of a total of 586 apartments overlooking the sea or the Crystal Walkway and comprising one to three bedroom units ranging from 90 to 240 m² and four bedroom duplexes ranging in size from 365 m². Residents also have access to exclusive world-class leisure facilities in addition to publicly accessible ground floor retail, entertainment and dining outlets with ample underground parking.

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