UDC, Commercial Bank sign MoU to finance clients at The Pearl and Gewan Islands – The Peninsula

UDC, Commercial Bank sign MoU to finance clients at The Pearl and Gewan Islands – The Peninsula

Doha: United Development Company (UDC), a leading Qatari shareholding company entered a memorandum of understanding (MoU) with the Commercial Bank (CBQ) with an aim to provide attractive home loans for UDC properties at its flagship developments, The Pearl and Gewan Islands.

In the presence of Ibrahim Jassim Al Othman, UDC President, Chief Executive Officer and Member of the Board and Joseph Abraham, Group Chief Executive Officer of Commercial Bank, the MoU was co-signed by Hussain Akbar Al Baker, UDC Executive Director Commercial and Hussein Al Abdulla, Commercial Bank EGM, Chief Marketing Officer and Head of Premium Banking during a ceremony held at UDC Tower in The Pearl Island, with senior representatives from both parties also in attendance.

As part of the agreement, UDC property buyers will be able to apply with Commercial Bank for a home loan of up to 70 percent of the property value and tenure up to 20 years, as well as benefitting from fast loan processing and flexible added-value options and payment plans. These finance arrangements will appeal to those wishing to live in the property themselves, and also to investors both locally and internationally as Commercial Bank offer mortgages for non-residents wishing to facilitate property ownership in