UDC and Commercial Bank sign Memorandum of Understanding to provide financing facilities to its customers at The Pearl, Gewan Islands

United Development Company (UDC), a leading Qatari joint-stock company, has signed a Memorandum of Understanding (MoU) with Commercial Bank to provide attractive home loans for UDC properties in its flagship developments, The Pearl and Gewan Islands .
In the presence of Ibrahim Jassim al-Othman, CEO and Chairman of UDC and member of the Board of Directors, and Joseph Abraham, CEO of Commercial Bank Group, the MoU was co-signed by Hussain Akbar al- Baker, Commercial Executive Director 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 of The Pearl Island attended by senior representatives of 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 period of up to 20 years, as well as benefit fast loan processing and flexible add-ons. value options and payment plans.
These financial arrangements will appeal to those wishing to live in the property themselves as well as local and international investors, as the Commercial Bank offers mortgage loans to non-residents wishing to facilitate home ownership in Qatar.
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 UDC’s current post-completion payment plan offering. 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.
“Furthermore, 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 business. investors from local and international markets.”
Abraham added: “We are very pleased to partner with UDC to launch their prestigious ‘Crystal Residence’ and offer a range of mortgage solutions tailored to clients’ 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 corporate and individual investors from Qatar and abroad with its amenity-rich, smart and sustainable features in plus the unparalleled location at Gewan Island which promises to be Qatar’s most prestigious and exclusive address.
Crystal Residence consists of 15 luxurious six to seven story mixed-use buildings located in the heart of Gewan Island in a bustling commercial and residential area, arranged around the pedestrian zone and the longest air-conditioned “Crystal Walkway” in the Qatar.
Crystal Residence consists of a total of 586 apartments with sea or Crystal Walkway views, including one- to three-bedroom units ranging from 90 m² 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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