Developer of The Pearl-Qatar to raise $1.18bn
Qatar's United Development Company (UDC) intends to raise QR4.28 billion ($1.18bn) through a rights issue and offer a 30 per cent bonus share issue, a company statement said.
It is currently building Qatar's first offshore real estate development project. The Pearl-Qatar, a multi-billion dollar island is expected to be completed in 2008 and house 40,000 people.
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