United Development Company (UDC) has signed a $225 million general purpose corporate facility with seven local and international banks to help the company further current projects already in development and future expansion plans. The company, best-known for The Pearl-Qatar real estate development project is also looking into the possibility of future mergers providing they add value to the UDC set-up.
According to the Peninsula, the banks participating in the loan are Commercialbank, National Bank of Oman, National Bank of Dubai, Mashreq Bank, BNP Paribas, National Bank of Abu Dhabi and Standard Chartered.
