Qatar: Rights Issue of United Development Company closes on July 4
Chairman Hussein Ibrahim Alfardan of the Qatar-based United Development Company on Sunday issued a final reminder to company shareholders that the current Rights Issue closes on Monday July 4, 2005.
“We have invited all our shareholders to join us in building the next stage of UDC’s success," Mr Alfardan commented. “I now remind all who have not yet taken up their new share entitlement to do so immediately.”
Applications must be submitted to Commercial Bank, Companies Branch, Grand Hamad Street, Doha, Qatar, and the value of shares applied for must be paid in full on subscription.
United Development Company (UDC) was established in 1999 as one of the largest private sector Qatari shareholding companies. The company wholly owns the Pearl-Qatar, the first and largest international real estate development project in the country. Currently, extensive land reclamation is under way as an entire new island is being created offshore Doha for the Pearl-Qatar – to house some 35,000 residents in attractive, luxurious, and landscaped surroundings.