United Development Company Signs QR 795 million contract for construction of two office towers in Abraj Quartier

Press release

Published March 10th, 2013 - 05:50 GMT

Abraj

United Development Company (UDC) announced today it has signed a QR795 (USD218 million) contract with a leading Qatari construction company to build the two Abraj Quartier AQ01 and AQ02 Gateway Office towers at The Pearl-Qatar.

Standing high at around 201 meters on opposite sides of the main access road to The Pearl-Qatar, the two 40-storey towers will boast a build up area of more than 230,000 square meters. Construction works commenced on February 15, 2013 and is expected to be completed end of January 2016.

Describing the contract as a major step forward for the Island, UDC’s Chief Executive Officer Ebrahim Al-Sulaiti said: “These towers will set the standard for the development in terms of quality and architectural articulation for exterior material and finishes and will feature comprehensive smart systems.”

Abraj Quartier is one of the ten precincts that make up The Pearl-Qatar Island. Developed by United Development Company, the Island is located 350 meters offshore of Doha’s prestigious West Bay District and is one of the largest urban developments in the Gulf.

Background Information

United Development Company

United Development Company (UDC) is a leading Qatari public shareholding company with a mission to identify and invest in long-term projects contributing to Qatar’s growth and providing good shareholder value. Established in 1999, the Company was first listed on the Qatar Exchange in June of 2003. It has an authorized share capital of QR 3.5 billion and total assets of QR 18.3 billion at 31 March 2019.