● Established in 1936, ULI is a non-profit organization recognized as one of the world's most respected authorities and thought leaders on urban planning, development, and sustainability
● NREC joins more than 100 Sustaining Members and global industry leaders, including Hines, GE Capital Real Estate, and Blackstone Real Estate Advisors
● 16 NREC executives inducted into ULI
Kuwait, March 13, 2016 - National Real Estate Company (NREC), one of the region's leading real estate development companies, has become the Urban Land Institute's (ULI) first Sustaining Member in Kuwait and the Middle East.
NREC joins some of the world's most respected developers and industry stakeholders including Tishman Speyer, SOM, JP Morgan Asset Management, Colliers International, and Prudential Real Estate Investors. As a Sustaining Member, 16 representatives of NREC's management team will become members of ULI; they will participate in ULI's global convenings, serve on regional councils, and receive the latest industry training.
ULI is a global multidisciplinary real estate research and education organization bringing together leaders from the private and public sectors, to exchange best practices and serve community needs while fostering their collaboration on issues of urbanization, conservation, regeneration, land use, capital formation, and sustainable development. Through knowledge sharing, members are able to advance land use policies and design practices to respect the uniqueness of both the built and natural environments.
Sustaining Members commit to ULI's overarching code of ethics which dictates respect for all aspects of real estate development including consumers and the environment. Through its members' leadership and expertise ULI offers the gold standard in quality programs and research, and the opportunity to make an impact on communities.
NREC's CEO Mr. Samuel Sidiqi said, "We are pleased to become the first Urban Land Institute (ULI) Sustaining Member in Kuwait and the Middle East. NREC shares ULI's values, and is committed to delivering projects of enduring value and quality for tenants and other stakeholders alike. As a responsible developer we understand and genuinely embrace the need to build sustainable communities and provide for a high standard of living to future generations."
As a strong proponent of sustainability, NREC leverages best practices in planning, design, and development to create balanced, viable, and quality projects and destinations across the MENA region.
About the National Real Estate Company (NREC):
Established in 1973, the National Real Estate Company (NREC) is a publicly listed company on the Kuwait Stock Exchange and a regional pioneer in real estate investment, development and property management. NREC has developed a strong portfolio of retail, commercial and residential real estate in emerging and established markets across the Middle East and North Africa. NREC has grown into one of the largest real estate companies in the MENA region, with US$1.9 Billion in assets under management and US$711 million in shareholder's funds.
High profile developments across the MENA region include:
● Souq Sharq: The first waterfront shopping mall in Sharq, Kuwait
● Grand Heights: Residential development of 3.8 million square meters in Cairo, Egypt
● Palm City Residences: An exclusive residential community of 413 units in Tripoli, Libya
● ANREPCO: Warehousing, residential and commercial complexes development of 2 million square meters in Aqaba, Jordan
● The Reem Mall: Super regional mall under development in Abu Dhabi, UAE
● Strong presence in the region: Egypt, Jordan, Kurdistan, Lebanon, Libya and UAE.
● NREC is the largest shareholder (22.34%) of Agility one of the top 15 global logistics leaders.
About Urban Land Institute (ULI):
Established in 1936, ULI has more than 37,000 members worldwide, spanning across the globe on six continents in 82 nations and representing the entire spectrum of the land use and development disciplines. Through member involvement and information sharing, ULI has been able to set standards of excellence in development practices and has long been recognized as one of the world's most respected and widely quoted sources of objective information on urban planning, growth and development.
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© Press Release 2016