URC: Sustainable Growth and Continued Profitability for the Fourth Consecutive Year

May 06 , 2026

United Real Estate Company (URC), the real estate arm of Kuwait Projects Company Holding (KIPCO), held its Annual General Meeting for the fiscal year ending December 31, 2025, with a quorum of 85.05%. The assembly approved all agenda items, including the Board of Directors’ recommendation to distribute 3% bonus shares from treasury shares.

Chairperson Sheikha Bibi Nasser Al-Sabah affirmed that URC continues its steady upward trajectory, supported by a clear strategy focused on enhancing service quality, improving customer experience, expanding its asset portfolio, and maintaining a strong financial position. This approach strengthens the company’s ability to generate sustainable long-term revenues.

Group CEO Mr. Mishary Al-Muhaillan stated: “2025 marked a pivotal milestone in the company’s journey, as we achieved profitability for the fourth consecutive year, driven by a diversified and resilient business model capable of adapting to various market fluctuations”. He added that URC launched a new strategy aimed at sustaining profitability, improving asset quality, and increasing operational efficiency locally and regionally. He also noted that the company’s total assets are approaching KWD 1 billion, including assets under Management.

In 2025, URC made notable progress in executing its strategic projects. The company launched the “Nobu Residences and Restaurant – Kuwait” project in Hessah Al-Mubarak District, in partnership with the globally renowned Nobu Hospitality brand. The project includes 90 luxury suites, a multi-purpose hall, and a restaurant with panoramic views of the Arabian Gulf, reinforcing the area’s position as a premier destination for luxury living and high-end experiences.

As part of its future plans, URC continues to evaluate investment opportunities within public-private partnership programs. These efforts were crowned by winning the Waterfront Development Project – Phase III (Souq Sharq), one of Kuwait’s most vital and iconic landmarks, aligned with national development goals and the company’s long-term vision.

In parallel, the company is currently developing a 40-storey luxury residential tower in Hessah Al-Mubarak District, strategically located overlooking the Arabian Gulf. The project is expected to be unveiled in the third quarter of this year.

Regionally, URC has continued to expand its footprint by developing an integrated resort project in Sharm El Sheikh, adding a distinctive asset to its hospitality portfolio. The project includes a five-star hotel with over 330 hospitality units and over 600 residential units, and benefits from its proximity to Sharm El Sheikh International Airport, enhancing the guest experience.

As part of its expansion strategy, the company also signed an agreement to develop a tourism complex on Masirah Island in the Sultanate of Oman, covering an area of 60,000 square meters. The project will include hospitality, residential, and commercial components, with a strategic focus on supporting the local economy, enhancing quality of life, and showcasing cultural identity.

In closing, the CEO expressed appreciation for the trust of shareholders and the efforts of employees, reaffirming the company’s commitment to delivering high-quality projects that create added value and strengthen its position as a leading real estate company. He emphasized URC’s role as a key partner in development, leveraging the integration of its subsidiaries and affiliates across construction, contracting, facility management, and real estate services—enhancing its ability to deliver distinctive projects and solidify its market position.