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Recognized as the first development of its kind in the country offering a unique design concept
Kuwait United Real Estate Company (URC) (KSE: URC), Kuwaits leading real estate development and property services company, has been awarded Best Retail Project Award (BUILT) Emerging Markets at Cityscape Global for its new retail destination in Jordan, Abdali Mall.
Following the deliberation by a high-profile judging panel of industry experts from a wide range of market sectors, the award winning project was commended on its sustainable and innovative design features, which encompass leading-edge sustainable building techniques such as water conservation, integrated solar power generation, as well as advanced mechanical and electrical services including LED lighting and passive cooling via an internal waterfall.
Commenting on the award, Mr. Ahmad Kasem, Deputy CEO of URC, said Being recognized by industry peers against a competitive list of international projects is an honor and reinforces URCs commitment to building innovation and sustainable quality into every project.
As a key partner in the Abdali redevelopment project in Amman, URC had the opportunity to trial a number of new design and engineering benchmarks for Abdali Mall through close collaboration with our consultants, contractors and the master developer and these have set a new quality standard for how we will approach future developments of this size.
With the aim to support the urban renewal of the center of Amman, Abdali Mall incorporates distinctive open-air features that expand over five retail levels with a gross leasable area of 73,000 sqm. The mall includes a large number of retail shops, an entertainment center, nine cinema screens, open-air food courts, indoor-outdoor restaurants, indoor water falls, a supermarket, in addition to a very large parking facility, comprising five basement floors to accommodate 2,400 cars.
Cityscape Global hosts one of the largest international real estate exhibitions and features exhibitors and industry professionals from around the world. Covering a range of categories, the awards offered international architects and leading real estate developers a prestigious platform to communicate a shared vision for the future, from culturally integrated city skylines to sustainable urban communities.
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About URC
United Real Estate Company (URC) is one of the MENA regions leading real estate developers, with total assets of KD 569.5 million (US$ 1.89 Billion) as of June 30, 2016. Headquartered in Kuwait, URC was founded in 1973 and was listed on the Kuwait Stock Exchange in 1984.
URC primarily operates in the Middle East and North Africa (MENA) region through a number of operational subsidiaries and investments arms. The companys portfolio includes retail complexes, hotels, resorts, residential buildings, high rise office buildings, as well as mixed use developments. Operational assets include, KIPCO Tower, Marina Hotel and Marina Mall in Kuwait as well as Salalah Gardens Mall & Residences in Oman. Regionally, URC is developing Abdali Mall in Jordan, Raouche View at 1090 in Lebanon, Aswar Residences in Egypt, Junoot Resort in Oman and Assoufid in Morocco.
URCs majority shareholder is KIPCO Group, one of the biggest holding companies in the Middle East and North Africa, with consolidated assets of US$ 33 billion as at 30 June 2016. The Group has significant ownership interests in over 60 companies operating across 24 countries. The groups main business sectors are financial services, media, real estate and manufacturing. Through its core companies, subsidiaries and affiliates, KIPCO also has interests in the education and medical sectors.
Further Information
Nora Zehery
Assistant Vice President Corporate Communications
United Real Estate Company
n.zehery@urc.com.kw
T +965 2295 3500 Ext. 3672
Press Release 2016
