(MENAFN- The Peninsula) By Sachin Kumar | The Peninsula
DOHA: United Development Company (UDC), one of Qatar's leading public shareholding companies and master developer of The Pearl-Qatar, announced yesterday that it sold properties worth around QR70m during the 7th edition of Cityscape Qatar 2018, which concluded yesterday.
The company had unveiled its latest construction project, Gewan Island being developed alongside The Pearl-Qatar as part of UDC's five-year sustainable growth strategy, in addition to its various real estate offerings and investments. The new island attracted an unprecedented number of investors and business people from both Qatar and abroad.
'The participation of UDC has been a success by all standards; Cityscape was the perfect choice for the launch of Gewan Island because it attracted a wide audience and a mix of local, regional and international real estate investors. The large number of visitors and the extensive media coverage is a clear indication of the steady growth of the national economy and the growing demand for investment opportunities in Qatar and the resilience of the country's real estate sector, said Ibrahim Jassim Al Othman, President & CEO of UDC.
'Moving forward, UDC's cumulative investment for major new projects, over the period 2018 2022, is estimated to be QR5.5bn, which reflects our strong commitment to continue the exceptional development work. We will continue to pursue the company's strategy of creating more investment opportunities, building on our achievements and reducing risks by taking advantage of the commercial and investment opportunities offered by
The Pearl-Qatar and Gewan Island which is our latest and currently biggest development project, he said.
Gewan Island is being designed to have a theme park, an air-conditioned outdoor ‘Crystal' boardwalk, a green park and a waterfront retail esplanade that will attract brands to Doha.
Cityscape Qatar 2018 also featured the launch of the third sale phase of residential units at Al Mutahidah Towers in Viva Bahriya precinct; which was sold out. Al Mutahidah Towers consist of high-end connected towers offering accommodation units of various dimensions including studios, luxury apartments as well as high-level penthouses.
The towers also boast panoramic sea-views and direct access to the beach.
The event also featured UDC's second phase sale of a mix of properties at Giardino Village. These include villa plots and low-rise building lots comprising a ground floor and three or five stories as well as under construction villas.
UDC equally offered visitors of its pavilion a number of attractive promotional offers on its residential villa land plots in this promising precinct.
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