United Development Company (UDC), a leading Qatari public shareholding company and the master developer of The Pearl-Qatar and Gewan Island, has entered into financing agreement for the project of developing commercial complex and annexure for Marina Service Centre in Giardino Village area at The Pearl-Qatar.
Giardino Village is a highly prized residential district featuring beautiful gardens and a private living space for residents.
“The objective to be achieved from the operation is to develop the project of commercial complex and annexure for Marina Service Centre in Giardino Village area, at The Pearl Qatar. The total value of the operation is QR105m,” said the company in a filing to the Qatar Stock Exchange yesterday.
The agreement was entered between UDC and Dukhan Bank for financing the project. “The method of payment and the sources of financing of the operation are installments over a period of approximately 17 years,” said the company.
The company has said that there is no change in ownership ratios before and after the completion of the process.
Along with villas and villa plots, Giardino Village project features low-rise building plots, apartment building, Giardino Mall and United School International.
The school, for which UDC has named Orbital Education as the operator, will adopt the British educational curriculum and accommodate 2,500 students with 102 classrooms. Of the total classrooms, 11 will accommodate early years while 91 classrooms will cater to primary and secondary school students.
The three-floor school will be located in the Giardino Village Precinct at The Pearl-Qatar. It will span an area of 44,000sqm and feature a 500sqm library, a dining room, an auditorium, a swimming pool area, sports halls, playgrounds, 3,000sq m open courtyards and parking spaces.
Giardino Mall will be located in the Giardino Village precinct and will offer an eclectic mix of shopping and dining outlets which will add value to the precinct’s comprehensive characteristic as well as to The Pearl-Qatar’s retail offerings.
Spread over total area of 12,000 sqm, Giardino Mall will have 13,000 sqm leasable area, hypermarket, retail and food and beverages outlets, department store, office space and other facilities.
