Doha, Qatar - June 5, 2012: United Development Company (UDC) today announced plans to cut Master Community (MC) service charges on The Pearl-Qatar by approximately 33 percent starting from July 1 2012.
MC charges include services such as cleaning of common use facilities, security, landscaping, pest control, maintenance of all mechanical, engineering and plumbing equipment, utilities for all common use properties and waste management. These charges will be re-evaluated every six months by Madinainova, Master Community Managing Agent at The Pearl-Qatar. Part of Madinainova's role is to deliver the best services for the best possible price.
"The increase of occupancy at The Pearl-Qatar has attracted more suppliers who are now able to provide the same standard and quality of services at lower costs," UDC's Chief Executive Officer Ebrahim Mubarak Al-Sulaiti said. "The Pearl-Qatar residents are now reaping the cost advantages of UDC's investment in expanding the scope and quality of services. The substantial cost reduction is a clear indication of the priority UDC places on providing residents with quality services at fair rates."
Al-Sulaiti further underscored UDC's relentless dedication to service excellence, through a series of surveys aiming to poll residents' satisfaction and to build on improving the caliber of services offered. The recently announced partnership with Qtel, enabling residents to enjoy a range of advanced connectivity and entertainment services, is another example of how The Pearl-Qatar is targeting to increase efficiency levels.
UDC has been diligently working to revise the service charges without compromising quality levels. This has become possible now that The Pearl-Qatar is reaching its goal of completing projects like Qanat Quartier and Medina Centrale, which will increase usage levels of common facilities.
Qanat Quartier, the Venetian precinct, has already started welcoming residents since January this year and Medina Centrale, the buzzing town centre, will be ready for occupancy in August 2012, while new people move into Porto Arabia's and Viva Bahriya's newly completed properties.
UDC and The Pearl-Qatar have also been awarded "Best Mixed-Use Development" and "Best Residential Project" at this year's Cityscape-Qatar in recognition of their commitment to innovation, sustainability and service excellence.
About The Pearl-Qatar
The Pearl-Qatar is a unique and innovative urban development in Doha, Qatar. A masterpiece of private and modern living on an Island spanning over four million square-meters of land, The Pearl-Qatar offers a tailored range of residential solutions to meet the highest of standards available in the Gulf. Furthermore, The Pearl-Qatar plays host to the latest retail and hospitality offerings from the world's leading brands and restaurants.
Developed by United Development Company (UDC), the Island is located 350 meters offshore of Doha's prestigious West Bay District and is one of the largest real-estate developments in the Gulf.
About United Development Company (UDC)
Founded in 1999, United Development Company (UDC) has been listed on the Qatar Exchange since June 2003 and is one of Qatar's leading private sector shareholding companies.
The United Development Company was established with the vision to identify and invest in long-term projects contributing to Qatar's growth and providing lasting shareholder value.
UDC's target areas of interest include: infrastructure and utilities, energy-intensive industries, hydrocarbon downstream manufacturing, real estate, urban development, maritime and environment-related businesses, hospitality, retail and fashion, information technology, media and communications, insurance and other services.
UDC has shown an ability to attract and partner with the highest quality of international talent, bringing outside expertise to bear on significant developments in Qatar and beyond. It has also demonstrated a successful model for synergistic growth, creating and operating a diverse portfolio of substantial businesses that leverage off one another and generate additional revenue streams in new markets.
UDC's founders and current Board Members are among Qatar's most successful investors and developers. Thousands of Qatari shareholders hold 75 percent of the total shares and the remaining 25 percent are held by other GCC and international investors.
FOR MORE INFORMATION:
Corporate Communications
communications@udcqatar.com
© Press Release 2012
