United Real Estate Company (URC) Signs MoU with Australian University (AU) Aimed at the Development of the Nation’s Youth

Nov 28 , 2022

Kuwait City by URC | Press Release

United Real Estate Company (URC), a leading real estate developer in Kuwait and the North Africa and Middle East region, signed a Memorandum of Understanding (MoU) with the Australian University (AU),one of the first private universities in Kuwait, on Monday, 28th of November 2022.

According to the MoU, the two parties have mutually agreed to develop a cooperative working relationship on AU programs with the larger objective of building a sustainable and robust alliance consistent with the strategic goals and values of both parties.

The agreement touches upon a variety of topics that are of mutual interest to both the signatories including providing opportunities for Diploma and Bachelor level students at AU to obtain field training and internship at URC or its subsidiaries; hosting of international and local speakers by URC at AU events, where URC will be given the opportunity to market its offerings; hosting of a URC representative on the AU Industrial Advisory Board during the academic year; collaboration between URC and AU in research projects that will benefit AU and support Kuwait Vision 2035; and joint training courses for fresh AU graduates interested in employment with URC as well as training courses for URC employees provided by AU professors in coordination with the Corporate Training Department at AU, among others.

Speaking about the agreement, Mr. Mazen Issam Hawwa, Vice Chairman and Group CEO at URC, said, “This initiative is in line with the company’s CSR objective of engaging with the society and developing the capabilities of the country’s youth. We look at this opportunity of working side by side with a prestigious institution like AU with much pride, and are hopeful that this partnership is going to entail a lot of positive outcomes not only for URC and AU, but also for the future of our nation as well.”

For his part, Dr. Mohammed Abdul-Niby, Dean - College of Engineering/Associate Professor – Electrical and Electronics Engineering, at Australian University (AU), stated, “On behalf of the College of Engineering (COE) at AU, we are extremely excited about our new partnership with United Real Estate Company (URC). The College of Engineering has a long-standing history of serving industry with initiatives that enrich the student experience. We look forward to a fruitful collaboration with URC that engages our students with the expertise of their team.”

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