K&L Gates advises Qatar’s UDC

A team of lawyers from the Doha office of global law firm K&L Gates LLP has advised United Development Company QSC (UDC) on USD203 million financing from Qatar National Bank SAQ and The Commercial Bank QSC.

UDC was founded in 1999 and is one of the leading private sector listed companies in Qatar. It plays a key role in the country’s development and is responsible for developing Qatar’s first man-made island, The Pearl-Qatar.

The funds raised from the financing will be used in connection with the Medina Centrale, a unique blend of residential, shopping and leisure developments dubbed the “Town Center” of The Pearl-Qatar.

Doha partner Amjad Hussain led the K&L Gates team and was assisted by associates Jaime Oon and Mohammed Tartir.

Hussain commented, “K&L Gates is delighted to have advised UDC on this transaction and proud to have contributed to a successful outcome. This is the latest in a number of strategic matters where we have acted as UDC’s legal counsel and we look forward to continuing to work closely together in the future in connection with the highly prestigious Pearl-Qatar project.”