United Development Announces Renewals of a Credit Facility Agreement Amounting to Qr 730 Million

United Development Company announced the renewal of credit facilities as follows:

• The objective to be achieved from the transaction is to develop Al Mutahidah Towers in the Pearl-Qatar
• The total value of the facility is 730 million Qatari riyals
• The method of payment is instalments over approximately 10 years
• The renewal agreement was entered with CBQ
• There is no impact on the financial position of the company due to the completion of this transaction
• Advantage is to contribute in developing Al Mutahidah Towers in the Pearl-Qatar, and there are no negatives impact or risks
• There is no conflict of interest between relevant persons in the transaction
• There is also no change in ownership percentages before and after the completion of the transaction