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 189 million.


In 2023, UBC was awarded various contracting projects, including various infrastructure work in the Hessah AlMubarak District and Sabah Al-Ahmed Sea City. The Company’s completed construction project portfolio includes Fahaheel Medical Center, Sheikha Salwa Al Sabah Center for Stem Cell and Umbilical Cord, Public Prosecution Headquarters, EPW & BOT Headquarters, in addition to other projects. The Company’s projects under construction include Central Utility Plant-3 in Sabah Al Salem Kuwait University City, multi-level car park building in Kuwait University Khaldiya Campus, in addition to developing various residential buildings which aligns with the company's growth plans.

UNITED FACILITIES MANAGEMENT(UFM)

Established in 2008, UFM is the first company in Kuwait to offer comprehensive property and facility management and related consultancy services. UFM offers facility management services from design to operations and serves government ministries and commercial establishments. The Company maintains several government complexes, residential towers, mix-use complexes, and oil sector facilities. The Company’s portfolio includes commercial and residential real estate management services in several countries in the MENA Region. 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 99.2% and is one of the leading companies in the field of integrated facilities management services. In 2023, the company continued its expansion of services, encompassing facility management, maintenance, operation, and support services for diverse entities aGross various sectors, aligning with its operational and expansion strategies. Additionally, it sustained a robust and diversified customer base.

GULF-EGYPT FOR HOTELS & TOURISM

Established in 1976, Gulf-Egypt for Hotels & Tourism (S.A.E) is an Egyptian-based subsidiary company 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.

United Real Estate Company - Oman

Established in 2007, United Real Estate Company - Oman is a closed Omani joint-stock company operating in the development, sale, and rental of real estate in the Sultanate of Oman. The company's portfolio includes Salalah Gardens Mall & Residences, the first integrated shopping center in the city of Salalah. Spanning over 86,000 square meters, this award-winning shopping center offers a diverse array of shopping, dining, and entertainment options, along with traditional markets and the city's first cinema and exhibition complex. Combining traditional Omani architectural styles with modern interior fittings, Salalah Gardens Mall also features spacious gardens and open-air spaces for visitors to relax and enjoy.

REGIONAL COMPANIES



United Real Estate Holding for Financial Investments

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.

Aswar Residences is a gated residential community comprising 75 three-story villas located on the eastern side of New Cairo, Egypt's latest modern city just 40 kilometers outside Egypt's capital which was fully developed, sold and delivered to clients.

 



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.



United Real Estate Company (Holding) – Lebanon

Established in 1975, United Real Estate Company Lebanon (Holding) is headquartered in Beirut and serves as one of the primary investment arms owned by United Real Estate Company (P.S.C.) in the Republic of Lebanon. United Real Estate Company Lebanon (Holding) oversees its subsidiaries in Lebanon, which include the Raouche View, renowned as one of Beirut's most luxurious residential complexes. Owned by United Real Estate Company, the building offers amenities rarely found in the city's upscale properties. Situated opposite the iconic Raouche Rocks, a natural landmark and tourist attraction in Beirut, the building comprises of 22 floors, spread aGross two interconnected towers, accommodating 40 apartments and 2 duplex penthouses. Additionally, the Bhamdoun Hotel and Mall, under the ownership of Bhamdoun United Real Estate Company, is renowned as one of the premier and most opulent establishments in the Mount Lebanon area.


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.