"We are very proud to have achieved these excellent results. They are a reflection of the success of the company's overall business strategy in the past year in assessing and managing our high value assets more effectively to achieve greater value and returns for the company and its shareholders. With the highly appreciated efforts of the executive management team, we shall continue to apply this strategy for the upcoming years."
Chief Executive Officer of URC, Eng. Mohammed Ahmed Al-Saqqaf commented, "We are pleased with this year's outstanding results and look forward to continuous achievements that will strengthen URC both operationally and financially. I would like to take this opportunity to thank the members of the Board of Directors for their continuous support and URC's executive management team for their invaluable efforts and dedication."
URC is one of the largest real estate development companies in the Middle East and North Africa with major projects such as Abdali Mall in Jordan, Salalah Gardens Mall in Oman and the luxurious high-end Raouche View at 1090 residential tower in Lebanon.
In addition to the company's projects under development, URC has a portfolio of operational assets, one of which is the Fairmont Hotel in Egypt. In Kuwait, URC's notable properties include Marina Mall, Marina Hotel, Marina Plaza, City Tower, Shaheed Tower, and the recently completed, KIPCO Tower.
URC's majority shareholder is Kuwait Projects Company (KIPCO), one of the largest and most diversified holding companies in MENA region, with assets under management worth $23bn with substantial ownership interests in over 60 companies operating across 26 countries.