Latest news with #UnitedProjectsforAviationServicesCompany
Arab Times
28-05-2025
- Business
- Arab Times
‘Domestic tourism on rise as more people stay in Kuwait'
KUWAIT CITY, May 28: Mubarak Al-Kabeer Governor Sheikh Sabah Bader Al-Salem on Wednesday inspected the Messilah Beach Project (Plage 2) -- one of the most important projects of the Tourism Enterprises Company (TEC). Members of the company's board of directors and executive management, along with representatives of the United Projects for Aviation Services Company (UPAC), were present during the inspection tour. The tour was aimed at reviewing the progress of the project, the implementation stages and finishing touches. This is part of TEC's efforts to support and develop the tourism sector, to shed light on this vital project, which is considered one of the most important family entertainment destinations developed by the company, covering an area measuring 70,000 square meters. The project was built according to the highest international standards in design and implementation, keeping pace with the latest concepts in family entertainment and providing an exceptional experience for visitors of all ages. It is scheduled to officially open in the coming months, adding to the list of leading entertainment destinations in the country. During the tour, the company reviewed the project's main components, which include swimming pools, water play areas, a multipurpose event hall, spaces designated for restaurants and cafés, commercial and service facilities, and parking for 350 vehicles. Governor Sheikh Sabah Badr Al-Sabah said 'The field visit to the project aims to assess the latest developments in the project, inspect the facilities, amenities and buildings, and view a visual presentation that includes all the project details. Domestic tourism has been witnessing an increasing demand from citizens and expatriates, as more and more people want to spend holidays and vacations in Kuwait.' He pointed out that there are a large number of tourism projects keeping pace with the growing demand for tourism facilities, such as the Winter Land, Key Land and Sabahiya projects. He stated that Mubarak Al-Kabeer Governorate will witness development in a number of tourism and entertainment projects, citing the recent formation of a governorate council to discuss and study all development proposals for tourism facilities within the governorate, which will support domestic tourism. Abdullah Al-Jaafar, Chief Executive Officer (CEO) of TEC, asserted that 'the governor's visit to the Messilah Project aims to review the facilities and amenities. The project will be ready for opening in the coming period.' He clarified that the project's goal is to develop domestic tourism for the benefit of citizens and expatriates throughout the year -- whether in winter or summer. Eng. Ahmed Sadiq, General Manager of the project, disclosed that developments added to the Messilah Beach Project include cafés and restaurants with distinctive designs on par with international architecture. Al-Seyassah/Arab Times Staff
Arab Times
18-05-2025
- Business
- Arab Times
UPAC Reports Q1 2025 Financial Results
KUWAIT CITY, May 18: United Projects for Aviation Services Company (UPAC), a commercial real estate and facilities management company, today announced its financial results for the first quarter of 2025. The company reported a net profit of KD 480 thousand, down 26% from 2024, or 1.19 fils per share. The company's recorded revenue for the quarter was KD 2 million, down 11% from 2024. Eng. Hamad Malallah, Chief Executive Officer at UPAC, said: 'UPAC's results are in-line with our expectations. The reduction in revenue is mainly attributable to airport-related services. We remain committed to identifying and pursuing strategic business opportunities within our industry that drive growth and create value for the company and its shareholders.' Malallah continued: 'Planning for the Al Messilah Beach Project (Plage-2) site has been progressing, where our teams are working on preparing the project for its opening and operation, meeting the relevant partners, and potential vendors who we will be working with on this exciting new project.' Al Messilah Beach, one of Kuwait's prime family entertainment destinations, was developed by Touristic Enterprises Company as part of its role in spearheading growth of Kuwait's tourism sector. UPAC is managing all aspects of the site including leasing, entertainment activities, facility management, and overall project operations. UPAC is also a co-investor in Abu Dhabi's $1.3 billion Reem Mall on Reem Island. The mall is the region's first fully integrated omnichannel retail ecosystem with digital, e-commerce, and logistics capabilities. It brings together all consumer and retail services to ensure a seamless customer experience. To date, 198 units are trading, and almost 80% of Gross Leasable Area (GLA) is committed.
