Pearl Qatar developer signs new $203m financing deal

Qatar’s United Development Company has signed a financing deal to borrow 738 million riyals ($202.65 million) from Qatar National Bank and Commercial Bank of Qatar, the developer said on Thursday.

The money will be used to fund its Medina Centrale project, the company said in a bourse statement without elaborating.

Medina Centrale is part of The Pearl, a string of man-made islands in Doha.