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23/02/2015 06:17 AST
United Real Estate Company (URC), a leading real estate firm in Kuwait, said its net profit for 2014 fell to KD7.87 million ($26.5 million) from KD11.2 million ($40 million) the previous year.
URC's chairman Tariq Mohammed AbdulSalam said the drop in profit was due to a major decline in re-evaluation gain and profit from the sale of investment properties compared to last year.
However, the total profit for 2014 has witnessed a growth of approximately 2.5 per cent, which reflects the stability of the company's operational profits that has also been reflected on the increase of 23 per cent in total revenue in 2014, he stated.
AbdulSalam also pointed out that the company's total assets have grown by 10 per cent to top KD520 million ($1.7 billion) for the year compared to 2013.
Accordingly, the board of directors has recommended a cash dividend of five per cent which is subject to the general assembly's approval, he added.
Trade Arabia
18/03/2018
United Real Estate Company (URC), one of Kuwait's leading real estate development companies, has announced the launch of Hessah Towers in the upcoming exclusive Hessah Al Mubarak District.
Trade Arabia
19/04/2017
United Real Estate Company (URC), one of the leading real estate developers in the Middle East and North Africa (MENA), has announced the holding of its General Assembly Meeting for the fiscal year e
Arab Times
13/04/2016
United Real Estate Company (URC), Kuwait's leading development and property services company, today announced an 8.3% increase in net profit of KD 8 million for the 2015 year at its Annual General As
Arab Times
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05/02/2026
Invest Qatar, the Investment Promotion Agency of Qatar, and Doha Bank have announced a strategic partnership aimed at further enhancing the ease of doing business for foreign investors entering the Q
Gulf Times
05/02/2026
In celebration of Kuwait's national holidays, in which the country commemorates its beautiful history and achievements, National Bank of Kuwait announced a limited-edition issuance of KWD Visa Prepai
Kuwait Times
05/02/2026
As strategic partner to the second edition of the International Digital Cooperation Forum (IDCF) 2026, held 4 and 5 February 2026 at the Jumeirah Messilah Hotel, Kuwait City, ZainTECH is supporting t
Kuwait Times
05/02/2026
OQ Group and Kuwait Petroleum International (KPI) signed an agreement on Tuesday in Kuwait to develop a petrochemical project in the Special Economic Zone at Duqm (SEZAD).
The agreement was
Muscat Daily
05/02/2026
K Hovnanian ME Investments (KHME), a subsidiary of Hovnanian Enterprises, and the majority shareholder of Al Tahaluf Real Estate Company, CJSC, has signed a memorandum of understanding (MoU) with Sau
Trade Arabia
Financial Information Co.
Saudi Arabia