Doha, December 14 (QNA) - United Development Company (UDC), a Qatari public shareholding company and the master developer of The Pearl-Qatar, has finalized the sale of The Pearl office Tower 2 to a strategic property investor for a total value of QR 1.25 billion.

The tower is one of two commercial towers situated at the entrance of The Pearl within the Abraj Quartier precinct, UDC said Wednesday in a press release. "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," UDC President and CEO Ibrahim Al Othman said. 

"Completing the sale of The Pearl Tower 2 is a significant accomplishment which adds value to UDC's deliverables in 2016. The sale also proves UDC is capable of delivering on its promise to achieve the best returns to its valued shareholders through a commitment to the development of integrated real estate products that meet the growing demand for smart residential and commercial products. In this spirit, The Pearl Towers are expected to positively impact the business dynamics in the vital West Bay area with the looming move-in of office tenants in 2017," Al Othman added.

Standing as the tallest architecture on The Pearl Island, the twin 201-meter high, 42-storey Pearl towers boast a total leasable area of 54,000 square meters each, which overlook the Gulf waters and offer panoramic views of Doha's West Bay and The Pearl. (QNA)