United Real Estate Company and AUK Sign Memorandum of Understanding

Apr 05 , 2023

Kuwait City by URC | Press Release

United Real Estate Company (URC), a leading real estate developer in Kuwait and the MENA region, and the Office of Alumni Affairs and Career Development at the American University of Kuwait (AUK) signed a memorandum of understanding (MOU) to develop a cooperative working relationship.

The MOU was signed by Mr. Mazen Hawwa, URC vice-chairman and group chief executive officer, and Dr. Rawda Awwad, AUK president. Attending the signing ceremony were URC representatives, the AUK president’s cabinet, and director of Alumni Affairs and Career Development, Ms. Abir El Tannir.

The two parties agreed to cooperate in designing and developing educational and training programs for AUK students, in addition to providing opportunities for faculty members to explore a number of projects in the field of applied research. Cooperation will also take place on initiatives targeting students and recent graduates to identify challenges and find solutions in various fields of engineering and real estate development.

Speaking on the occasion, Mr. Mazen Hawwa said: “We are pleased to enter into this partnership with AUK. Through this agreement, we will be working together by combining expertise and resources with the objective of expanding the breadth of both institutions’ research, leading to more innovation and success.”

Dr. Rawda Awwad expressed her enthusiasm towards bringing together both parties’ strengths and expertise to create new opportunities for learning, discovery, and innovation, “We are delighted to collaborate with URC and work together in providing our students with valuable educational experiences and opportunities to further their professional development, and thus substantially increasing their visibility in the marketplace.”

This memorandum provides AUK students with field training and internship opportunities at URC, including career workshops and seminars presented by successful industry leaders and entrepreneurs. On-site visits will also be made available by URC for students interested in employment within the real estate and operations construction industry. Other outcomes of the MOU include collaborative research projects and joint international programs.

This agreement is a testament to AUK’s distinguished integration of liberal arts principles that allow its students to engage with their chosen fields both in theory and practice.

About URC

United Real Estate Company. K.S.C.P (URC) is one of the leading real estate developers in Kuwait and the MENA region, with consolidated assets of Approx. KD 610 million (US$ 1.96 Billion) as of 30 September 2022. Headquartered in Kuwait, URC was founded in 1973 and was listed on the Kuwait Stock Exchange in 1984.

URC primarily operates through a number of operating subsidiaries and investment arms across the MENA region. URC's core business is real estate development and operations and enjoys a diversified portfolio of assets that include retail complexes, hotels, residential properties, and high-rise office buildings.

URC’s operations extend to construction and contracting services, facility management, and project management through its several subsidiaries. URC's portfolio of assets is geographically spread throughout the MENA region and includes Marina World, Marina Hotel, and KIPCO Tower in Kuwait, Salalah Gardens Mall & Residences in Oman, Abdali Mall in Jordan, Raouche View 1090 in Lebanon, Hilton Cairo Heliopolis & Waldorf Astoria Hotels, and Aswar Residences in Egypt, and Assoufid development including a golf resort, five-star hotel, and premium residences in Morocco.

URC is the real estate arm of its majority shareholder, Kuwait Projects Company – Holding (KIPCO Group), a holding company that focuses on investments in the Middle East and North Africa. It’s strategy of acquiring, building, scaling and selling companies in the MENA region has worked successfully for over 30 years. KIPCO’s main business sectors are financial services, media, real estate, and industry. KIPCO’s financial service interests include holdings in commercial banks, insurance companies, asset management, and investment banking.

Contact Info

Salem Al Khulaqi

Communications Manager – Sales & Marketing
United Real Estate Company

T (+965) 2295 3671

F (+965) 2244 1003