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14 January, 2015

Abdali Mall Leases Over 4,000 sqm to Family Entertainment Center 'Galaxy Park'

Kuwait January 14, 2015: Abdali Mall Company (AMC) a joint venture company between developers, United Real Estate Company - Jordan and Abdali Investment & Development Company, announced today its signing with 'Galaxy Park', a family friendly, space-themed entertainment center, to join AMC's upcoming retail and leisure destination, Abdali Mall. The mall, located in the new commercial and

Abdali Mall Leases Over 4,000 sqm to Family Entertainment Center 'Galaxy Park'
Kuwait January 14, 2015:  Abdali Mall Company (AMC) a joint venture company between developers, United Real Estate Company - Jordan and Abdali Investment & Development Company, announced today its signing with 'Galaxy Park', a family friendly, space-themed entertainment center, to join AMC's upcoming retail and leisure destination, Abdali Mall. The mall, located in the new commercial and residential district of Abdali in Amman, Jordan, covers a total built up area of over 227,000 square meters and is the first of its kind in the country.

Heading all leasing activities for Abdali Mall, AMC leased approximately 4,000 square meters of the mall's entertainment component to 'Galaxy Park', which will comprise an exciting action zone including an arcade center and a kid's play area.

AMC's General Director, Eng. Marwan Abu Hassan, said, "AMC is proud to welcome its latest tenant, 'Galaxy Park' to Abdali Mall. We are very pleased with the project's progress and its contribution to the urban regeneration of Abdali, as well as its contribution to the Jordanian community as a whole. The project will offer various job opportunities for nationals, as well as introduce new standards for integrated commercial buildings in the area, which allows families and visitors to enjoy a range of activities in one location. As of December 2014, Abdali Mall is at 80% construction completion, with a total leased percentage of 56%. "

General Manager of Galaxy Park, Dr. Khaled Abu Hassan, said: "This partnership arises from our belief in the importance of the Abdali Mall project, which represents a new experience for shopping and entertainment with a unique architectural design in the heart of the capital, Amman. It is the perfect location for establishing one of our state-of-the-art family entertainment centers in Jordan, "Galaxy Park". "

Developed by United Real Estate Company (URC), one of the MENA region's leading real estate developers, Abdali Mall is an innovative, design-led mall that incorporates open-air features, and introduces a variety of amenities. Abdali Mall will feature a dining plaza with casual and fine dining restaurants and cafes in addition to a food court area. The mall will also house a large number of local, regional and international retail brands, a dynamic family entertainment center, 9-screen cinema, and a supermarket. Facilities to aid in customer experience include a five-level basement designed as conveniently accessible parking which holds for 2,400 cars. The mall is expected to be operational in the third quarter of 2015.

For more information about Abdali Mall or for leasing opportunities, please visit www.abdalimall.com. For additional information about United Real Estate Company (URC), visit www.urc.com.kw.

-Ends-

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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.

URC
United Real Estate Company (URC) is one of the MENA region's leading  real estate developers, with total assets of KD 503.4 million  (US$ 1.75 Billion) as of September 30, 2014.  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, Junoot Resort in Oman and Assoufid in Morocco.

URC's majority shareholder is KIPCO Group is one of the biggest holding companies in the Middle East and North Africa, with consolidated assets of US$ 32 billion as at 30 September, 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 22953500 ext. 3673

© Press Release 2015