Kuwait, 1 September 2014:   Abdali Mall Company (AMC), a joint-venture company between United Real Estate Company - Jordan (URC-J) and Abdali Investment and Development Company (AID),  announced today that it has signed with two of ATICO Fakhreldin Group's F&B outlets; Fakhreldin and Kebab Express, to join the company's tenant mix in Amman's upcoming iconic shopping, entertainment and leisure destination, Abdali Mall. AMC leased over 570 square meters to Fakhreldin, including a prime terrace on the first floor, and leased over 40 square meters in the food court to Kebab Express.

AMC's Board Member, Renimah Ali Al Mattar, said, "AMC is proud to develop a unique project that contributes to the urban regeneration of Amman. We believe this new development will mark a new era in retail and dining standards for the local market. The design of the F&B component will to provide convenience such as direct road circulation from both the ground and first floors and open-air access on the fourth floor with views of the Abdali Boulevard and the greater city of Amman. As of August 2014, Abdali Mall is at 70% construction completion with a total leased percentage of 49%."

Chief Executive Officer of ATICO Fakhreldin Group, Mr. Essam Fakhreldin, said,  "ATICO Fakhreldin Group chose Abdali Mall as an additional outlet because we strongly believe that our brands need to be present for our customers, at all prime locations. Downtown Abdali promises to be just that, a new city within a city and Amman's new downtown.  Within this project is Abdali Mall, a high-end, state of the art mall, which we strongly envision will not only be the retail and leisure hub, but will also have top of the line services. Thus we are adamant about our presence within the development and look forward to a whole new concept of shopping and entertainment in Amman." 

Developed by United Real Estate Company (URC), Abdali Mall is an iconic shopping mall, which incorporates unique open-air features within an aesthetic design. Abdali Mall's F&B component includes a total leasable area of approximately 11,000 square meters, distributed among four floors. The floors feature cafes, casual and fine dining restaurants and additional outdoor seating where visitors can enjoy Amman's pleasant weather, year-round.

With a total built up area of over 227,000 square meters, Abdali Mall spreads over five floors above ground, offering over 64,000 square meters of gross leasable space. Apart from the eleven-screen cinema, Abdali Mall's tenant mix accommodates a large number of retail shops, an entertainment center, a food court, a casual dining plaza, and a supermarket. Located within the upcoming commercial hub of the city, Abdali Mall includes five basement floors designed as smart and conveniently accessible parking which holds for 2,400 cars. The mall is expected to be operational in the third quarter of year 2015.

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AMC
Abdali Mall Company (AMC) is a Private Limited Company based in Jordan. The company was established in 2007 as a joint-venture between United Real Estate Company-Jordan (URC-J) and Abdali Investment and Development Company (AID) to own the Abdali Mall asset. URC-J is the main shareholder and developer of Abdali Mall, with 60% ownership of the project, while the remaining 40% is held by AID.

About URC
United Real Estate Company (URC) is one of the MENA region's leading  real estate developers, with total assets of KD 473 million  (US$ 1.67 Billion) as of December  31, 2013.  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 company's 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 and Junoot Resort in Oman.

URC's majority shareholder is Kuwait Projects Company (KIPCO), one of the biggest holding companies in the Middle East and North Africa, with consolidated assets of US$ 32.3 billion as at 30 June, 2014. The Group has significant ownership interests in over 60 companies operating across 24 countries. The group's 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
Rasha Slaton               
Communications Executive
United Real Estate Company
rasha@urc.com.kw
T +965 1805225 ext. 2240

© Press Release 2014