United Development Company commends Prime Minister’s decision granting it licensing privileges to accelerate the completion of The Pearl-Qatar

February 23, 2017 / News

United Development Company (UDC) Chairman, H.E Mr. Turki bin Mohammed Al-Khater, praised new initiatives announced by Prime Minister and Interior Minister H.E Sheikh Abdullah bin Nasser bin Khalifa Al Thani, at his meeting last Sunday with representatives of the private and government sectors, aimed at boosting private sector investment and economic growth.

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Commenting on the proposed measures, Al-Khater said: “The strategic decisions that have been made by the government exempting The Pearl-Qatar from the procedures of issuing licenses, will inevitably support with bringing development works at The Pearl up to speed, while reassuring large contractors and developers of the Island’s investment qualities, and stimulating efficient and timely completion of construction works through increasing the proportion of local investments in The Pearl during the next phase.”

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Al-Khater pointed out that the new measures will also positively contribute to attracting foreign investment into the State of Qatar, and will lead to accelerating project delivery and improving project quality by contractors and developers operating on The Pearl.

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For his part, UDC CEO & President Mr. Ibrahim Jassim Al-Othman, stated that the exemption and licensing privileges extended to the management of The Pearl-Qatar, to issue construction, completion of construction, electricity and civil defense permits for real estate developers, indicates the great importance attached by the government to the pivotal role of the private sector in economic growth and sustainable development.

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Al-Othman further pointed out that such deliberate actions and opportunities for private investment, will clearly contribute to increasing the share of the private sector in the gross domestic product, by providing a suitable environment to diversify the economy and attract more local and foreign investments. He also confirmed that the government’s allocation of lands to build schools and hospitals, are backed by huge investments in infrastructure development which will also provide a solid base for future projects, including at The Pearl.

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Al-Othman concluded saying: "The licensing privileges extended to The Pearl not only serve to strengthen the partnership with the public sector but also help raise the quality of services offered on the Island, as more local, regional and international investments are expected in the real estate and commercial fields which are presently witnessing growing demand.”

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The Prime Minister had earlier announced that The Pearl-Qatar and Lusail projects would be exempted from the procedures of issuing licenses and that their managements will be provided with the authority to grant special licenses in the fields of construction, completion of construction, electricity and civil defense for real estate developers. In this context, the Ministry of Municipality and Environment along with the Qatar General Electricity and Water Corporation (Kahramaa), Civil Defence and other relevant agencies - have been directed to finalize an agreement with the managements of the two projects whereby The Pearl-Qatar and Lusail will assume full responsibility before the State in case of a breach - by the developing companies - of the standards and conditions stipulated in the agreement and the approved urban plan.

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