The Pearl in Qatar is a curious place, an artificial island marina where Ferrari and Rolls-Royce dealerships nestle among faux-Venetian canals, somewhat at odds with the rest of Doha.
But intriguing developments are taking place at United Development Company (UDC), the island's master developer, after a planned 1.6 billion Qatari rial investment by a government agency collapsed this week.
UDC's shares fell the most in two weeks after it was revealed that Qatar's General Retirement and Social Insurance Authority had withdrawn an offer to become the largest stakeholder in the company. UDC's shares fell 4.2 per cent to 24.7 rials each, having fallen as low as 8.2 per cent earlier in the day.
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