URC Successfully Concludes its Sponsorship of 8th Flare Festival

Nov 21 , 2023

Kuwait City by URC | Press Release

United Real Estate Company (URC), the real estate arm of KIPCO Group and a leading real estate developer in Kuwait and the MENA region, announced the conclusion of its strategic sponsorship of the 8th edition of Flare Festival, Kuwait’s biggest fitness challenge, which took place at Marina Crescent from November 9 to 11, 2023.

The festival achieved tremendous success, with over 7,500 attendees and nearly 3,000 participants from all over Kuwait. It also featured diverse challenges, such as a dynamic obstacle course with 15 obstacles, strength challenges, a children's race, and various entertaining activities.

URC's sponsorship and support for this event stems from its commitment to promoting sports within the Kuwaiti community and nurturing a youthful spirit. The stunning nature of the site -Marina Beach- where this major sporting event took place allowed participants of all ages to enjoy an unforgettable adventure with these wonderful activities.

Mr. Nasser Al Qallaf, Senior Vice President, Marketing and Corporate Communication at URC, said: “Flare Festival, which kicked off its activities at Marina Crescent over the weekend, was a fantastic outdoor opportunity for fitness enthusiasts and those looking for challenge and adventure. Our sponsorship of this event underscores URC's ongoing commitment to fostering a thriving sports environment and enhancing fitness experiences for a healthier and more active community. We are happy to be participating in this annual event, witnessing the broad engagement ranging from amateurs to professional athletes and children. Marina, renowned for its diverse nature, stands as one of Kuwait's premier entertainment and sports destinations, and we continuously aim to host numerous sporting events within its vibrant environment.”

From his side, Mr. Abdullah Al Sultan, Chief Property Management Officer at URC, said: “While we continue our endeavors to present Marina as an inclusive and vibrant destination that promotes a culture of well-being and fitness, we encourage all members of society to maintain this momentum, which contributes to the development of future generations of sports enthusiasts. Marina has consistently been recognized for hosting a variety of distinctive sports, water, and family-oriented activities.”

In recognition of its strategic sponsorship of such a flagship sporting event, the Flare Festival organizer honored URC for their effort and support, in the presence of the Chairman of the Kuwaiti Olympic Committee, Sheikh Fahad Nasser Al-Sabah. On his part, Sheikh Mubarak Faisal Nawaf Al-Ahmad Al-Sabah, Member of the Board of Directors of the Kuwait Olympic Committee, honored the Flare Festival winners across the different competitions.

It is noteworthy that over the course of three days, URC offered numerous giveaways to participants, arranged diverse activities and contests catering to all age groups, spanning from children to adults. Additionally, the company initiated a contest on its Instagram account, providing participants with a unique chance to win an iPhone and an Apple Watch.

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 669 million (US$ 2.2 Billion) as of 30th September 2023. Head quartered 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