United Real Estate Company
KKSE:URC220.00
KWF
-4.00
(-1.79%)
ISIN
KW0EQ0400626
Return %
Stock
S&P 500
1Y
-3.57
14.20
3Y
416.12
81.12
5Y
194.47
68.34
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
KWD
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in mil. unless spec.Quarterly Revenue
KWD
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.Company Description
- Sector
- Finance
- Industry
- Real estate development
- Address
- Kuwait City Kuwait
- IPO Date
- Jan 17, 1993
- Website
- urc.com.kw
- Similar Companies
- Business
- United Real Estate Company K.S.C.P. (URC) is a Kuwait-based public shareholding company that operates as a diversified real estate development, investment, and property services provider across the Middle East and North Africa (MENA) region. Founded in 1973 and headquartered in Kuwait City, Kuwait, the company serves as the real estate arm of Kuwait Projects Company (Holding) (KIPCO). The company operates across multiple specialized business segments, including real estate development and investment, property and asset management, hospitality and leisure operations, integrated facilities management, and general construction contracting. The company engages in the master planning, development, acquisition, leasing, and management of a comprehensive portfolio of residential, commercial, retail, mixed-use, and hospitality properties. Its primary product and service offerings comprise: real estate development and investment, encompassing the design, construction, and sales of high-end residential towers, luxury villas, and mixed-use urban districts such as Hessah District (including Hessah Towers and Byout Hessah), as well as prime commercial office skyscrapers including KIPCO Tower and Shaheed Tower; retail and commercial asset management, involving the leasing and operational management of regional shopping centers, retail complexes, and waterfront leisure destinations such as Marina World (comprising Marina Mall, Marina Crescent, Marina Hotel, and Marina Yacht Club) in Kuwait, Salalah Gardens Mall in Oman, and Abdali Mall in Jordan; hospitality and tourism asset ownership, encompassing five-star hotels and luxury resorts managed under international hospitality brands, including Waldorf Astoria Cairo Heliopolis in Egypt, Marina Hotel in Kuwait, Salalah Gardens Hotel in Oman, and the Assoufid luxury golf resort community in Marrakech, Morocco; general construction and civil engineering contracting, delivered through its wholly owned subsidiary United Building Company (UBC), which provides structural engineering, procurement, construction (EPC) management, civil contracting, and infrastructure development for internal developments and external clients; integrated facilities management (IFM) services, provided through its subsidiary United Facilities Management (UFM), which offers mechanical, electrical, and plumbing (MEP) maintenance, energy management, environmental services, security, cleaning, property valuation, building life-cycle operations, and smart building technology solutions; and real estate project management and advisory services, including feasibility studies, urban zoning advisory, project execution oversight, and tenant leasing services. Geographically, United Real Estate Company operates primarily across Kuwait, with extensive regional investment and operational footprints in the Sultanate of Oman, the Hashemite Kingdom of Jordan, the Arab Republic of Egypt, the Kingdom of Morocco, and Lebanon. The company caters to institutional investors, governmental and sovereign entities, multinational corporations, commercial retailers, high-net-worth individuals, and residential tenants. In recent corporate developments, United Real Estate Company completed a major three-way statutory merger by amalgamation, successfully absorbing United Towers Real Estate Company (UTEC) and Al Dhiyafa Holding Company (DHC) to consolidate its asset base, expand recurring rental income streams, and scale its hospitality and commercial portfolio. The company has also achieved key operational milestones with the phased completion and handover of prime residential and commercial units within its flagship Hessah Al Mubarak waterfront district, while advancing the development of the district's commercial and medical components. Furthermore, URC has actively optimized its capital structure and liquidity profile through successful local currency bond issuances and debt refinancing facilities, while accelerating digital transformation and sustainable property management initiatives across its facilities management subsidiary, UFM.