United Real Estate Company Wins the “Most Innovative Community Developer in 2023”

Feb 18 , 2024

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, has been awarded the "Most Innovative Community Developer" by Global Business Outlook magazine. This accolade adds to URC's achievements for the year 2023, following its recognition as the "Middle East’s Best Overall Developer" by Euromoney magazine, the "Best CSR Company in Kuwait” by the International Business Magazine, and "Best in Kuwait" awards in eight categories, "Best Regional" awards in four categories, and the “Best International Office Development” award for Hessah Work for its standard units in the International Property Awards.

Reflecting on these accolades, Mr. Mazen Issam Hawwa, URC Vice Chairman and Group Chief Executive Officer, stated: "These awards reflect our strategic excellence in achieving sustainable development and reinforce our commitment to building more innovative and prosperous communities. They inspire us to continue building effective partnerships and pioneering initiatives that not only redefine industry standards but also elevate community well-being."

Mr. Hawwa added, "Our vision goes beyond profitability; it encompasses enriching lives, empowering individuals, and creating a legacy of progress that resonates through future generations. These recognitions strengthen our determination to remain at the forefront of innovation, driving sustainable advancement and fostering comprehensive growth across all sectors."

These awards aim to honor excellence across various business domains worldwide by spotlighting the achievements of leading companies and business leaders. URC's recognition comes as a result of its pioneering approach to community development, which involves implementing innovative solutions to address social and environmental challenges. This accolade reflects the company's commitment to innovative projects and initiatives that positively impact communities by promoting sustainable development, enhancing social inclusion, and improving overall quality of life.

Therefore, the company successfully concluded the year 2023 by achieving value-added initiatives and making a tangible positive impact on society, culminating in its receipt of numerous prestigious local and international awards. URC's initiatives in 2023 encompassed all segments of society, highlighting its leadership in serving the community with a prominent social role characterized by diversity and inclusivity. This reinforces the implementation of sustainability standards and lays new foundations for the role of the private sector in development, aligning with URC's longstanding community-centric approach spanning over 50 years.

From his side, Mr. Nasser Al Qallaf, Senior Vice President – Sales & Marketing, said: “At URC, we recognize the fundamental connection between business success and sustainable social impact. We also acknowledge that our success is closely tied to the well-being of the communities we serve. Therefore, our CSR initiatives extend beyond the conventional business practices and aim to catalyze positive change to effectively contribute to sustainable development, education, empowerment, and more through the implementation of economic, social, environmental, and other developmental projects and programs.”

Strategic Partnerships for Women's Empowerment

Mr. Al Qallaf pointed out that URC's record is replete with numerous strategic community initiatives, including the company's sponsorship of the Young Women Leadership Initiative launched by Alnowair aimed at empowering young women through purposeful theater. The initiative embraces the principle of experiential learning, utilizing practical theatrical practices to assist individuals in achieving personal, emotional, and social development.

URC also continued its sponsorship of the Women's Futsal League as a strategic sponsor for the third consecutive year, as part of its strategy in CSR in collaboration with the Women's Committee at the Kuwait Football Association, aiming to elevate local women's sports and support players in advancing and competing at both regional and international levels.

Youth and Sports

Confirming URC's ongoing commitment to fostering suitable sporting environments, hosting numerous events, and enhancing fitness experiences toward a healthier community, the company sponsored Kuwait's largest sports festival, the "Flare Festival," at Marina Beach. Additionally, it sponsored the KIB The Stadium Padel Championship, where top players from the GCC countries competed. Furthermore, the company launched the 50K Steps Challenge for its employees to promote healthy lifestyle.

Supporting Students and Education

URC actively supports educational initiatives aimed at nurturing talent and fostering leadership potential. In fact, the company excelled in supporting students and education by participating in career fairs at several universities. It participated as a Platinum Sponsor in the Career Growth Exhibition organized by the American University in Kuwait, showcasing URC’s commitment to Human Capital development and creating future leaders, in addition to its gold sponsorship of the recruitment exhibition at the College of Engineering and Petroleum at Kuwait University. Furthermore, it sponsored student graduation projects, hosted a group of students on a study tour to the “Hessah District” project, and organized an inspiring discussion session on enhancing the "Excellence Mindset in Construction Project Execution” by the company's engineers, who were keen to share their valuable expertise.

URC also welcomed a group of American United School of Kuwait students at KIPCO Tower, one of the most iconic landmarks in Kuwait City, on a field trip that included a tour of the tower. The photography class students were given the opportunity to explore the building's design and floors, in addition to visiting the company's offices. All of this underscores the company's strong commitment to enhancing the capabilities of the next generation, which possesses high levels of creativity and competency.

URC Promotes Health Awareness

URC organized an awareness campaign and a dedicated workshop on breast cancer for its employees in collaboration with Kuwait Hospital. The company also hosted its employees as part of the medical examination campaign, in addition to visitors to its towers: KIPCO Tower, Al Shaheed Tower, and City Tower, over two days. The event included various activities, screenings, and medical consultations, in collaboration with the International Hospital, aimed at encouraging the community to undergo regular check-ups. The campaign also featured meetings with specialists in diabetes, digestive health, and nutrition to increase awareness about the importance of maintaining a healthy lifestyle. URC was also present at various health events as part of its social responsibility in this regard.

URC Wins Prestigious International Awards for Excellence

As a culmination of these achievements, URC garnered several prestigious international awards throughout the year. It clinched the "Middle East’s Best Overall Developer" award from the renowned global magazine, Euromoney, known as one of the most reputable financial and real estate publications worldwide. This accolade stands as further evidence of URC's commitment to delivering top-notch projects for modern living. Additionally, URC was honored with the "Best CSR Company in Kuwait for 2023" award in the real estate sector by the International Business Magazine.

URC was nominated in recognition of its pioneering efforts in integrating environmental, social, and governance (ESG) standards and implementing impactful initiatives in environmental, social, cultural, and health development. This serves as an additional affirmation of the significant progress the company has made in achieving its environmental and social goals. The assessment took into account URC's strategic programs, influential partnerships, and valuable contributions to education, culture, women's empowerment, and societal well-being at large.

Moreover, URC's focus on enhancing a comprehensive work environment, nurturing employee growth and development, and integrating Corporate Social Responsibility (CSR) practices as a core element within the environmental, social, and governance framework was also considered.

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