Capital Governor Reviews Sharq Fish Market Redevelopment Plan, Emphasizes Importance of Preserving Its Historical Identity

Oct 14 , 2026

Kuwait City by URC | Press Release

His Excellency the Governor of the Capital Governorate, Sheikh Abdullah Salem Al-Ali Al-Sabah, conducted a field visit today to Sharq Fish Market, where he reviewed the redevelopment plan being implemented by United Real Estate Company (URC). The project aims to modernize the market’s facilities and enhance the quality of services provided to citizens and residents, while preserving its historical identity and significance as one of Kuwait’s most prominent traditional markets.

During the visit, His Excellency was briefed on the project's various phases and implementation plan, which includes the establishment of a temporary outdoor market hall to ensure uninterrupted trading activities throughout the redevelopment period. The project also involves upgrading infrastructure and service facilities, improving entry and exit access, and increasing the number of market stalls from 214 to more than 240. These enhancements are expected to expand the market’s capacity and provide a more organized, convenient, and comfortable environment for both vendors and shoppers.

His Excellency reaffirmed the Capital Governorate’s commitment to overseeing development and service-oriented projects that contribute to improving the quality of services provided to citizens and residents. He emphasized the importance of effective coordination and collaboration among all relevant stakeholders to ensure that redevelopment works progress according to the approved plans, while taking into consideration the needs of stallholders and ensuring the continuity of their commercial activities.

The Governor further highlighted that Sharq Fish Market represents an integral part of Kuwait’s historical heritage and maritime traditions, underscoring the importance of striking a balance between preserving the market’s traditional character and meeting the evolving requirements of modernization and development.

At the conclusion of the visit, His Excellency commended the efforts of United Real Estate Company and the government entities involved in the project, expressing his appreciation for their collaboration in redeveloping this vital landmark. He also expressed his hope that the redevelopment would enhance the market’s overall appeal, reflecting its historical significance while meeting the expectations and aspirations of its visitors.


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 689 million (US$ 2.25 Billion) as of 30 June 2025. 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

VP - Corporate Communication –
United Real Estate Company

T (+965) 2295 3671

F (+965) 2244 1003

s.alkhulaqi@urc.com.kw