United Real Estate K.S.C (URC`R)

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News

5 April 2020 04:16 PM URC’s unit pays OMR 8m to settle dispute in Oman

Mubasher: Al Reef Real Estate Co, a fully-owned subsidiary of the United Real Estate Company (URC), reached a settlement related to its judicial dispute with Wara Construction Co. Al Reef paid a final sum of OMR 8 million ($20.85 million) as a …

Corporate Actions

5 April 2020 09:24 AM United Real Estate’s losses down 20% in 2019

Mubasher: The net loss of United Real Estate Company (URC) declined by 19.7% on an annual basis in the fiscal year (FY) 2019 to reach KWD 7.2 million from KWD 8.9 million. The 2019 financial results are attributed to a rise in gross profits and …

Real estate

30 March 2020 10:31 AM United Real Estate pens KWD 7m loan deal

Mubasher: United Real Estate Company (URC) has signed a credit facility agreement with a local bank for KWD 7 million ($22.4 million). The loan will finance the company’s commitments and will be due on 15 March 2023, according to a statement to …

Companies Investments

4 March 2020 11:44 AM URC’s affiliate to build Hessah Towers project

Mubasher: Mena Homes Real Estate Company, a subsidiary of United Real Estate Company (URC), on Wednesday signed a contract with Alghanim International General Trading and Contracting Company for the development of the Hessah Towers project.   The …

Real estate

6 February 2020 10:17 AM United Real Estate signs KWD 38m credit facility agreements

Mubasher: United Real Estate has extended a KWD 29.1 million credit facility agreement with a local bank, according to a statement to Boursa Kuwait on Thursday. The Kuwait-based real estate firm further revealed that its subsidiary, United …

Banking and Finance

29 January 2020 10:04 AM United Real Estate names new CEO

Mubasher: The board of Kuwait Projects Holding (KIPCO) approved by circulation the appointment of Mazen Issam Hawwa as the CEO of its subsidiary, United Real Estate. The decision shall be effective as of 1 February 2020, according to a bourse …

Board of Directors

29 January 2020 09:48 AM United Real Estate’s unit inks KWD 43m loan deal

Mubasher: United Real Estate said that its subsidiary, United Building Co, has penned a credit facilities agreement with a local bank at a value of KWD 42.97 million in cash and noncash. The credit facilities will be used to finance the …

Banking and Finance

23 January 2020 03:59 PM United Real Estate pens KWD 10m loan deal with AUB Kuwait

Mubasher: United Real Estate has renewed a credit facilities agreement with Ahli United Bank – Kuwait (AUB Kuwait) at a value of KWD 9.966 million.   The loan will be due on 2 June 2022 and will be used in financing the Kuwaiti firm’s investments …

Financial Results

10 November 2019 10:06 AM Capital Intelligence affirms URC’s bond rating at ‘BBB’

Mubasher: Capital Intelligence (CI) Ratings has affirmed the rating of United Real Estate Company's (URC) KWD 60 million ($197.7 million) bond, which will mature in April 2023, at 'BBB', with a stable outlook. This a reflection of the company’s …

Bonds

21 October 2019 03:19 PM United Real Estate’s unit completes EGP 40m capital raise procedures

Mubasher: Kuwait-based United Real Estate announced that its fully-owned subsidiary in Egypt has completed the required procedures for its capital increase. United Real Estate Investment has finished all procedures to raise its issued and paid-in …

Corporate Actions

1 October 2019 00:55 PM United Real Estate’s unit approves KWD 11m capital hike

Mubasher: Kuwait’s United Real Estate announced that the board of its 33.33%-owned subsidiary, Mena Homes Real Estate Co, approved to increase the capital by KWD 10.985 million. The new capital will amount to KWD 48.677 million, United Real Estate …

Corporate Actions

10 September 2019 11:56 AM United Real Estate’s unit inks EGP 250m loan deal with AUB Egypt

Mubasher: Kuwait’s United Real Estate announced that its subsidiary, United Real Estate Investment, has signed a five-year revolving loan facility contract worth EGP 250 million (KWD 4.6 million) with Ahli United Bank (AUB) – Egypt. The loan will …

Real estate

9 September 2019 00:16 PM United Real Estate’s unit renews KWD 20m deal with Boubyan Bank

Mubasher: United Real Estate announced that its subsidiary, United Building Co, has signed a contract with Boubyan Bank to renew and raise its credit facilities. The total value of this contract amounts to KWD 30.907 million which will be …

Banking and Finance

31 July 2019 07:10 PM United Real Estate turns to profit in Q2-19

Mubasher:  United Real Estate (URC) turned to profit during the second quarter of 2019, recording KWD 1.63 million ($5.37 million). The company achieved a KWD 2.42 million profit in the first six months of 2019, according to a bourse statement …

Financial Results

4 July 2019 11:36 AM United Real Estate inks deal with Ikarus

Mubasher: United Real Estate signed a contract with one of its subsidiaries, Ikarus United for Marine Service Co, to manage and operate The Marina Yacht Club in Kuwait. Ikarus will have full authority to manage, operate, and do maintenance works …

Company News

15 May 2019 01:45 PM United Real Estate’s profit grows 2% in Q1

Mubasher: Kuwait-based United Real Estate (URC) reported a 2.15% year-on-year profit rise during the first quarter of 2019. URC’s profits reached KWD 780,940 ($2.57 million) in Q1-19, compared to KWD 764,510 ($2.52 million) during Q1-18, according …

Financial Results

8 May 2019 01:49 PM United Real Estate’s unit obtains $36.5m loan from Omani lender

Mubasher: Kuwait-based United Real Estate Co. said that its 100% subsidiary, Al Reef Real Estate Company, signed a mortgage contract with Oman’s Al Hilal Islamic Banking Services to obtain credit facilities worth OMR 14 million ($36.46 million). …

Real estate

29 April 2019 10:46 AM United Real Estate’s unit inks KWD 7.7m deal with Burgan Bank

Mubasher: United Real Estate announced that its subsidiary, United Building Co, has signed a banking facilities agreement with Burgan Bank. The contract holds a value of KWD 7.715 million that will be repaid during a period ends on 12 December …

Real estate

28 April 2019 10:59 AM United Real Estate amends loan deal with Burgan Bank

Mubasher: Kuwait-based United Real Estate (URC) has renewed and amended a loan agreement with Burgan Bank. After amending the deal, the facility's value reached KWD 59.5 million, according to a bourse filing. The contract includes KWD 5 million as …

Banking and Finance

28 March 2019 11:31 PM United Real Estate posts KWD 5.7m loss in Q4

Mubasher: United Real Estate (URC) reported KWD 5.7 million ($18.81 million) loss during the fourth quarter of 2018. The company’s loss surged to KWD 8.99 million last year, compared to KWD 2.22 million in the year before, according to a bourse …

Financial Results

10 February 2019 05:21 PM Marriott, United Real Estate to open resort in Morocco

Mubasher: United Real Estate, a subsidiary of Kuwait Projects (KIPCO), has agreed with Marriott International to open a resort near Marrakech, Morocco, according to Reuters. Located in central Morocco, the St. Regis Marrakech should open in 2024, …

Real estate

11 December 2018 03:32 PM United Real Estate’s unit in Jordan buys Abdali Mall

Global Markets brief

12 November 2018 05:42 PM URC’s unit inks KWD 75m contract with PAHW

Mubasher: United Real Estate (URC) on Monday announced that its subsidiary, United Building Company (UBC), has signed an agreement with Public Authority for Housing Welfare (PAHW). The contract’s total value amounted to KWD 74.9 million ($246.9 …

Real estate

1 November 2018 04:28 PM United Real Estate incurs KWD 1.6m losses in Q3

Mubasher: United Real Estate suffered an increase of 37.9% in losses during the third quarter of 2018 compared to the same period a year ago. Losses deepened to KWD 1.6 million ($5.28 million) in Q3-18 from KWD 1.16 million ($3.83 million) in …

Real estate

29 July 2018 04:18 PM United Real Estate incurs losses in Q2, H1

Mubasher: United Real Estate registered a negative turn in the income statements of both the second quarter and the first half of 2018 against profits in the corresponding period last year. The company suffered a loss of KWD 2.46 million ($8.14 …

Real estate