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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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10/03/2025
Doha Bank introduced a suite of exclusive offers for NRIs on their Visa Platinum Debit Card, delivering exceptional value across travel, lifestyle, dining, and retail. These carefully curated benefit
The Peninsula
10/03/2025
Saudi Awwal Bank has been awarded the Sustainability Program of the Year 2024 at the Capital Markets Forum (CMF), organized by the Saudi Stock Exchange Group (Tadawul).
This achievement make
Saudi Gazette
10/03/2025
Saudi Aramco has lowered its crude oil prices for Asian buyers in April, marking the first reduction in three months. This price cut aligns with market expectations and follows the decision by OPEC+
Arab News
09/03/2025
United Development Company (UDC), the master developer of The Pearl and Gewan Islands, has continued its global track record of accomplishments by securing three new Guinness World Records. This rema
The Peninsula
07/03/2025
Talabat Kuwait has denied rumors of a security breach, assuring customers and partners that all personal and payment information remains fully secure.
In an official statement, Bader Al-Ghan
Trade Arabia
Financial Information Co.
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