QR 780 million from doha bank to UDC

United Development Company UDC announced Thursday a financing agreement with Doha Bank for an amount around QR780,000,000 (Seven Hundred Eighty Million Qatari Riyals) for developing Porto Arabia retail units. The UDC said in statement that it authorizing UDC''s Managing Director or Acting Managing Director to finalize all proceedings and signing the agreement and all documentations required for the conclusion of the above agreement. UDC is one of Qatar''s leading private sector shareholding companies. The company was established in 1999 and listed on the Qatar Exchange in June 2003. It has an authorized share capital of QR 1.609 billion, total assets of QR 11.008 billion as of 31 March 2011 and a market capitalization of check current value on Qatar Exchange.