Qatar's United Development says selling $398 mln of land

DUBAI, April 22 Tue Apr 22, 2014 1:36am EDT

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DUBAI, April 22 (Reuters) - Qatar's United Development Co , a real estate company developing The Pearl residential complex on an artificial island in Doha, said it had agreed to sell 47 plots of land in the area for 1.45 billion riyals ($398 million).

The land, totalling about 103,000 square metres, will be sold to an unnamed "strategic partner" and transferred later this year, United Development said in a brief statement on Tuesday without elaborating. (Reporting by Andrew Torchia; Editing by Olzhas Auyezov)

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