Qatari property developer United Development Company (UDC) sold The Pearl Tower 2 to an unnamed strategic property investor, according to its press release.
Sold for for QAR 1.25 bn, UDC President & CEO, Mr. Ibrahim Al Othman commented, “We are satisfied with the closing of the tower’s sales deal and the speedy and efficient handover process commensurate with the quality benchmark recognized by UDC as a leading developer, and The Pearl-Qatar as a destination of choice for lifestyle, business and leisure seekers.”
As part of the Pearl-Qatar project, The Pearl Tower 2 is one of two commercial developments,
comprising offices designed to provide the best possible working environment, according to UDC, namely 981 car parks, 20 elevators, CCTV monitoring, chilled water cooling, and pneumatic solid waste management. Both towers offer a total leasable area of 54,000 square meters on 42 storeys.
The Pearl-Qatar is one of the largest real estate developments in the country, offering freehold and residential rights to international investors. Furthermore, the project includes five-star hotels, marinas, a yacht club, schools and other services as well as luxury residential property and upscale retail, restaurant and lifestyle amenities, UDC press release stated.