Posted on September 20, 2015

United Development Company (UDC), a leading Qatari shareholding company and master developer of The Pearl-Qatar, today announced that its first limited auction offering of nine Qanat Quartier townhouses has successfully concluded.

Through the envelope bidding method, UDC had auctioned some of the finest and most luxurious townhouses in the Venice-like community of Qanat Quartier. By the set September 13th deadline, the Company had received and subsequently processed bids for the nine units in accordance to the Auction’s set rules and regulations.

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In what was considered to be a very competitive process with a set minimum opening price of QR 25,000 per square meter, a number of bids exceeded this amount, consequently setting a new benchmark for future sale rates at The Pearl-Qatar, where further real estate investment opportunities are expected to be offered in the fourth quarter this year in what is expected to impact UDC’s outlook and further its growth for the current financial year and beyond.

Townhouses in Qanat Quartier are offered in two or three bedroom units covering 350 square meters and above. Offering views over the picturesque water canals, all units also feature parking areas, as well as direct access to the beach. Residents can enjoy the stunning architecture, privileged lifestyle on the water and water taxis linking Qanat Quartier with other areas in The Pearl-Qatar. Residents can also enjoy a wide variety of retail options, including restaurants, cafes, gift shops, art galleries, small fashion boutiques, food markets, resorts, recreation facilities and specialized gyms.

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A Venice-like community, Qanat Quartier is one of the most popular and attractive precincts in The Pearl-Qatar, quickly becoming a highly sought after address in the Gulf region. Its unique Venetian-inspired architecture, with brightly colored houses, canal ways, bridges and seaside facades, render it a unique and attractive residential destination.