URC a Platinum Sponsor of ENCON3, Held under the Patronage of Minister of State for Municipal Affairs

Jan 15 , 2023

Kuwait City by URC | Press Release

United Real Estate Company (URC), a leading real estate developer in Kuwait and the MENA region, participated as a platinum sponsor in the third Consulting Services for the Development Plan Forum (ENCON3). The event was held under the patronage of His Excellency Mr. Abzulaziz Waled Abdullah Al-Mujel, Minister of State for Municipal Affairs, and organized by the Kuwaiti Federation of Engineering Offices and Consultant Houses (KFEOCH). The theme was: “Completion of Permits Portal and Addressing Challenges of Construction & Housing Plans.” The forum took place over three days, from January 10th to 12th, 2023, at the Al-Baraka Ballroom in the Crowne Plaza Hotel.

URC was represented at the forum by the company's Chief Development Officer, Architect Mishary Al Muhailan, who delivered the keynote speech. Al Muhailan also participated in a panel discussion focused on addressing the challenges of construction and housing plans, especially the dilemmas in the housing sector. At the conclusion, Al Muhailan was honored as the representative of URC, one of the main event sponsors.

In his keynote address, Al Muhailan emphasized the importance that URC places on the efforts to address the population crisis from various perspectives. He explained that it is impractical to arrive at sustainable solutions to this crisis without the collaborative efforts of all stakeholders involved in the country's development process. He noted that this approach is similar to the experiences of most countries, including regional nations, who have not been able to solve their housing issues without utilizing the expertise and capabilities of real estate developers to create a sustainable housing development model.

Al Muhailan also expressed his hope that the discussions on the housing crisis, particularly during the forum, would lead to appropriate solutions that address the challenges posed by the construction and development process, and contribute to achieving the goals of the New Kuwait Vision 2035.

He added, "URC has a track record of successful projects throughout the Middle East and North Africa, where it has contributed to the development of modern and innovative housing solutions that cater to a variety of customers. These projects are known for their high levels of luxury, privacy, and sustainability. URC also plays a significant role in addressing the housing crisis in Kuwait by applying its successful experiences to create effective housing solutions that can quickly construct thousands of units keeping international quality standards."

Referring to one of the most recent and innovative experiences of URC at the local and regional levels, Al Muhailan said: “The construction of Hessa District is nearing completion and has seen a rapid increase in demand like never-before in Kuwait. This is clear evidence of the people’s confidence in our company and the housing solutions we provide."

It is worth mentioning that Al Muhailan also participated in the fourth session on January 12th, which included a panel discussion entitled "Internal and External Challenges and Solutions to Housing and Construction Projects."

During the session, Al Muhailan emphasized the importance of collaboration, stating: "We believe in the need for cooperation between government agencies and the private sector in order to enhance the quality of living for Kuwaitis. “URC is fully committed to contributing to the state's initiatives in housing plans by providing innovative solutions” he added.

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