United Real Estate Company (URC) stands as a prominent player in Kuwait and the MENA region’s real estate landscape, boasting consolidated assets of approximately KD651 million ($2.12 billion).
In its most recent financial results, URC reported a net profit of KD2.05 million during the review period, a slight increase from the previous year. This performance can largely be attributed to a rise in operating revenues within the hospitality sector. The firm also successfully reduced its debt by KD9 million during the first quarter of 2024.
URC’s commercial properties have experienced a notable increase in occupancy rates, driven by heightened demand across office, retail and industrial spaces. Key properties, such as Kipco Tower and Marina Mall, have achieved near-full occupancy, reflecting URC's effective management.
Among URC’s ongoing projects, the Hessah District project is particularly noteworthy. Located in the Hessah AlMubarak district, this mixed-use development aims to integrate urban living with sustainable, environmentally friendly spaces. The project is designed to meet the evolving needs of both residents and businesses, potentially setting a new standard for urban development in the region.