United Real Estate Company Reports KWD 3.11 Million Net Profit for the First Half of 2026

Aug 12 , 2026

United Real Estate Company (URC) announced its financial results for the first half of 2026, reporting a net profit of KWD 3.11 million, compared with KWD 4.43 million during the same period in 2025. Earnings per share (EPS) reached 2.27 fils, compared with 3.4 fils in H1 2025.

The company explained that the decline in net profit was primarily due to lower earnings from certain associate companies following the completion of residential apartment deliveries in the Hessa Al Mubarak District project. In addition, the hospitality sector was affected by ongoing geopolitical developments in the region, which negatively impacted travel activity and hotel occupancy rates. This was partially offset by improved operating profit, revenue growth across other business segments, and lower net financing costs.

URC also recorded a 20% increase in total assets, reaching KWD 826.7 million at the end of the first half of 2026, compared with KWD 687.6 million as of 31 December 2025. Gross profit increased to KWD 17 million, up from KWD 16.5 million in H1 2025. The results showed a modest improvement in operating performance. Operating revenues rose to KWD 49.5 million in H1 2026, compared with KWD 49 million during the same period in 2025. Meanwhile, operating net profit increased by 10.2% to KWD 13.42 million, compared with KWD 12.2 million in the first half of 2025.

Commenting on the results, Mishary Suleiman Al-Muhailan, Group CEO, said: "Our results reflect the continued resilience of our operating performance, as we succeeded in achieving balanced growth in revenues and operating profits despite ongoing geopolitical challenges and their impact on certain key sectors."

He added that during the first half of the year, the company remained focused on executing its strategic priorities by enhancing operational efficiency, improving asset quality, and maintaining disciplined cost and financing management. These efforts have strengthened the company's resilience and positioned it to navigate evolving economic conditions more effectively.

Al-Muhailan concluded by stating that the company looks forward to building on this performance during the second half of the year by continuing to develop its investment portfolio and capitalize on high-quality opportunities that enhance returns and create sustainable value for shareholders.