SUBSIDIARIES


UNITED BUILDING COMPANY(UBC)

United Building Company K.S.C.C (UBC) is a fully owned construction and contracting arm of United Real Estate Company K.S.C.P (URC), a leading real estate developer in Kuwait and the MENA region. Classified as a “first” grade contracting company since 1984, UBC has a long track record with several landmark projects in Kuwait. The Company currently has various projects under construction valued at approximately KD 264 million.


The Company’s operations have significantly expanded, and has successfully acquired 40% of Insha’a Holding Company, one of the leading manufacturers and suppliers for building and construction material in Kuwait. This acquisition increases UBC’s market share in the contracting and construction industry by enhancing its operational efficiency and diversifying its sources of revenue.

UNITED FACILITIES MANAGEMENT(UFM)

United Facilities Management Company K.S.C.C (UFM) is a subsidiary of United Real Estate Company K.S.C.P (URC) with a stake of 96.8% and is one of the leading companies in the field of integrated facilities management services. Established in 2008, UFM was the first company in Kuwait to offer comprehensive property and facility management services by utilizing modern applied practices in innovation, technology, and operational standards. UFM delivers its facilities management functions through all phases from design to operation and services, to government buildings, commercial and residential complexes, multi-purpose buildings and oil sector facilities. The Company also provides various other services such as consultancy, maintenance, security and cleaning. The Company’s portfolio includes commercial and residential real estate management services in several countries in the MENA Region, including United Arab Emirates, Oman, Bahrain, Jordan, Egypt and Lebanon.

GULF-EGYPT FOR HOTELS & TOURISM

Established in 1976, Gulf-Egypt for Hotels & Tourism (S.A.E) is an Egyptian-based subsidiary company held through Al Dhiyafa Holding Company K.S.C.C (DHC), which is owned by United Real Estate Company K.S.C.P (URC).


The main purpose of the Company is construction of hotels and touristic establishments, acquisition, and utilization thereof, the Company owns both Hilton Cairo Heliopolis & Waldorf Astoria Cairo Heliopolis, as well as land assets in Al Orouba and in Sharm El Sheikh, Egypt.

AFFILIATES

SSH Design

SSH is an affiliate of URC and is one of the region’s leading master planning, infrastructure, building design, construction supervision and project management firms in the Middle East, with a reputation for design integrity and a portfolio that includes landmark projects in the region. With more than 1,000 projects and ranked 3rd in the Middle East by World Architecture Magazine and amongst the top 100 Architects in the World, SSH currently employs over 1,300 people with offices in Abu Dhabi, Algeria, Bahrain, Dubai, Iraq, Kuwait, London, Oman, Qatar, Saudi Arabia and South Africa. Since 1961 and for more than 50 years, SSH has played a leading role in shaping the built environment and infrastructure of the modern Middle East.



REGIONAL COMPANIES



United Real Estate Holding for Financial Investments - Egypt

United Real Estate Holding for Financial Investments S.A.E., established in 2008 and owned by United Real Estate Company K.S.C.P (URC), is one of URC’s primary investment arms in Egypt. Headquartered in Cairo, United Real Estate Holding for Financial Investments supports URC’s operations and strategies in Egypt by overseeing its planned activities and businesses, its regional portfolio of assets and real estate investments, and manages land bank assets and property development through project planning and supervision related to URC’s subsidiaries in Egypt, including:
1-Aswar Residences: owned by its subsidiary, Aswar United Real Estate Company S.A.E.
2-Medius: owned by its subsidiary, Medius United for Real Estate Investment Company S.A.E.



United Real Estate Company – Jordan

United Real Estate Company Jordan P.S.C (URC – Jordan), established in 2006 and owned by United Real Estate Company K.S.C.P (URC), is the investment arm of URC in the Kingdom of Jordan. Headquartered in Amman, URC Jordan embraces the corporate vision of enriching the local community through the development of landmark projects. Abdali Mall is one of the most acclaimed developments delivered by URC, and it is the premier retail and entertainment hub that has redefined the concept of shopping malls through its unique architecture and diverse tenant mix. Abdali Mall is also a stimulant to Jordan’s economy by contributing thousands of direct and indirect job opportunities to the workforce which contributes to this vital industry.


ASSOCIATES

Mena Homes Real Estate Company

Mena Homes Real Estate Company K.S.C.C is a Kuwaiti closed shareholding company owned by United Real Estate Company K.S.C.P (URC) at a 35.7 % stake, along with other reputable KIPCO Group subsidiaries.

Mena Homes Real Estate Company acquired plots within Hessah AlMubarak District, the first-ever mixed-use district developed by the private sector in Kuwait, to develop a variety of components including residential, serviced apartments, offices, health clinics, retail, and food & beverage, and a community hub. URC leads and manages Mena Homes Real Estate Company’s real estate investment portfolio and property development of Hessah AlMubarak District.

Assoufid Group

Assoufid Group operates through several real estates and services entities for the Assoufid Development Project located in Marrakech, the Kingdom of Morocco. Assoufid Group is owned by Assoufid B.V. (ABV), a private company registered in the Netherland. ABV is an associate of United Real Estate Company K.S.C.P (URC), in which URC owns a 49% stake in the Company and oversees the Group development and management.

The Assoufid Development Project is a luxury mixed-used integrated tourism and residential resort situated in the vibrant city of Marrakech. Spread over 2.5 million square meters, the development’s first phase comprises a multiple award-winning high-end 18-hole golf club along with several luxury residential villas. The second phase of the project will consist of residential components, including branded villas and high-end apartments, retail shops, and an iconic five-star hotel The St. Regis Marrakech Resort, which is managed and operated by Marriott International, Inc. The third phase of the development will introduce additional premium villas and apartments. Assoufid Project is strategically located approximately 8 kilometers away from Marrakech International Airport, and lies on a naturally undulating terrain, overlooking the beautiful snow-capped Atlas Mountains.

Insha'a Holding Company

Established in 2005, Insha'a Holding Company is an industry leader for the manufacturing and supplying of building and construction materials in Kuwait. Its core business activities are specialized in ready-mix concrete, building materials, and construction chemicals.

In 2017, United Building Company K.S.C.C (UBC), the construction and contracting arm of United Real Estate Company K.S.C.P (URC), in partnership with Qurain Petrochemical Industries Company (QPIC), one of KIPCO Group subsidiaries, acquired an interest of 100% of Insha’a Holding in a deal valued at KD 13.75 million.