Latest News

UPAC Signs a KD 50.1 million Loan Facility Agreement

25 December 2017, KUWAIT

United Projects for Aviation Services Company (UPAC), a leading commercial real estate and facilities management company, is pleased to announce the signing of a five-year KD 50.1 million ($165 million) loan facility agreement with two of Kuwait’s leading commercial banks, Gulf Bank Kuwait and Ahli Bank of Kuwait (ABK), to finance its investment in Abu Dhabi’s Reem Mall.

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Azadea Group inks deal with Abu Dhabi’s Reem Mall to bring 11 stores to the US $1.2 billion project

11 December 2017, Kuwait

Reem Mall, Abu Dhabi’s new up and coming entertainment, dining and shopping destination, has announced a significant new partnership with Azadea Group, the premier lifestyle retail company which boasts an infrastructure of more than 650 stores spread across a dozen countries of the Middle East and North Africa (MENA) region.

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Reem Mall Group Names Construction Contractor

27 November 2017, KUWAIT

The Reem Mall consortium today announced the appointment of Itinera Ghantoot, a UAE-Italy joint venture, as lead contractor on the $1.2 billion shopping, leisure and entertainment project.

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Agility, UPAC, and NREC invest $1.2 billion in Abu Dhabi’s Reem Mall

21 November 2017, KUWAIT

Agility, UPAC, and NREC, the consortium behind Abu Dhabi’s Reem Mall, a retail, leisure and entertainment destination, announced today that financing for the $1.2 billion project is now complete, by signing the largest real estate asset based facility in the United Arab Emirates in 2017.

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UPAC Reports KD 2.413 million Net Profit in Third Quarter of 2017

08 November 2017, Kuwait

United Projects for Aviation Services Company (UPAC), a leading commercial real estate and facilities management company, today announced its financial results for the third quarter of 2017. The company recorded a net profit of KD 2.413 million for the third quarter of 2017, a 3.02% increase over the same period in 2016. UPAC’s revenues grew by 2.73% to KD 3.582 million, compared to KD 3.486 million during Q3 2016.

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