News Update
NREC Announces a Net Profit of KD 3.4 million for Q3/2020 and a Net Profit of KD 2.9 million for the 9-months Period Ended 30 September 2020
National Real Estate Company (NREC), currently developing projects valued at over USD 2 billion in the Middle East and North Africa region, reported its financial and operational results for the periods ended 30 September 2020. The Company announced a net profit of KD 3.4 million and an EPS of 2.41 fils for the third quarter […]
ABU DHABI’S $1.2 BILLION REEM MALL GEARS UP TO TRANSFORM CUSTOMER EXPERIENCES WITH GAME-CHANGING AGGREGATED APP
Innovators behind Abu Dhabi’s $1.2 billion Reem Mall today announced how the introduction of a transformational aggregated application marks a significant milestone in the mall’s journey towards becoming the world’s first fully enabled, offline-to-online, technology-powered life and business center. Reem Mall’s Director of Digital Innovation, Milat Sayra Berirmen, revealed at a special industry session how […]
UPAC Holds it AGM for the Financial Year Ending 31st Dec, 2019
United Projects for Aviation Services Company (UPAC), a specialized commercial real estate and facilities management company, held today its Annual Ordinary General Assembly Meeting at its premises, with a quorum of 95.214%. UPAC shareholders approved all the items on the AGM agenda, including UPAC’s audited financial results. They endorsed the Board of Directors’ recommendation not […]
UPAC Records KD 13.42 Million Revenue in 2019
United Projects for Aviation Services Company (UPAC), a leading commercial real estate and facilities management company, today announced its financial year end results for 2019. UPAC recorded a net profit of KD 8.95 million, compared to KD 9.75 million in 2018. UPAC revenue amounted to KD 13.42 million in 2019 compared to KD 13.72 million […]
UPAC Records Net Profits of KD 3.2 Million in Third Quarter of 2019
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 2019. UPAC recorded a net profit of KD 3.2 million in Q3 of 2019, an increase of 29.55% over the same period in 2018. The company’s revenues amounted to […]
NEW DETAILS REVEALED ABOUT THE WORLD’S LARGEST SNOW PLAY PARK IN ABU DHABI
Snow Abu Dhabi set to open as part of the $1.2bn Reem Mall project in late 2020 The 125,000 sq ft attraction will emulate an enchanted world spread across distinct zones 13 world-class rides and attractions set to deliver fantastic experiences for the whole family Abu Dhabi, UAE, 30 June 2019: Blizzard’s Bazaar, Snowflake Garden […]
UPAC Honors Long Serving Employees
United Projects for Aviation Services Company (UPAC), a leading commercial real estate and facilities management company, commemorated International Workers Day (falls on 1 May every year) by organizing an honorary celebration to recognize the long servicing employees who completed 15 years of dedicated service with UPAC. Nadia Akil, UPAC CEO welcomed the team and presented […]
UPAC Holds it AGM for the Financial Year Ending 31st December 2018
United Projects for Aviation Services Company (UPAC), a leading commercial real estate and facilities management company, held today its Annual Ordinary General Assembly Meeting at the Public Authority for Industry, with a quorum of 95.439%. The company’s shareholders approved all the items on the agenda, including UPAC’s audited financial results, and endorsed the Board of […]
Reem Mall Set To Transform Regional Retail Industry Through Innovative Data Analytics And Integrated E-Commerce Logistics
Developers behind Abu Dhabi’s $1.2 billion Reem Mall have revealed how innovative data analytics and the introduction of an integrated 23,000 sq.ft. E-commerce logistics hub will make it the world’s first fully digitally enabled smart shopping centre. Using the latest omni-channel data gathering techniques, analysis and insights generated by Big Data will be at the […]
A Look Inside Abu Dhabi’s $1.2bn Reem Mall
With an interior design inspired by Abu Dhabi’s rich natural surroundings, the upcoming Reem Mall promises to deliver a truly unique customer experience when it opens its doors in late 2020. The developers behind the $1.2bn project today offered the first glimpse of some of the key design features inside Abu Dhabi’s new retail, leisure […]
KONE to equip Reem Mall, Abu Dhabi
KONE, a global leader in the elevator and escalator business, will equip Reem Mall, a world-class retail, leisure, dining and entertainment destination currently being built on Reem Island on the northeast coast of Abu Dhabi in the United Arab Emirates. Reem Island is a planned residential and commercial community commonly referred to as “the new […]
UPAC Successfully Completes Capital Increase Process
United Projects for Aviation Services Company (UPAC), a leading commercial real estate and facilities management company, announced that the subscription period for raising its capital has ended successfully. The company has increased its issued and paid-up capital by KD 3,275,000 divided into 32,750,000 ordinary shares, with a total value of KD 18,012,500 including the issuance […]
UPAC Records KD 9.64 million Net Profit in 2017
United Projects for Aviation Services Company (UPAC), a leading commercial real estate and facilities management company, today announced its financial year end results for 2017. UPAC recorded a net profit of KD 9.64 million, an increase of 14.23% over 2016. UPAC’s revenue increased by 5.83% in 2017 to KD 13.99 million, compared with KD 13.22 […]
Reem Mall Appoints New Chief Operating Officer
Al Farwaniya Property Developments, the developer behind Abu Dhabi’s Reem Mall, has announced the appointment of Gary Burrows as the company’s Chief Operating Officer. Having worked in over 35 different countries including major business centres such as London, Dubai, Moscow, Budapest and Prague, Burrows brings more than 29 years of international property management experience specialising […]
Reem Mall Set to Host Abu Dhabi’s Largest Sharaf DG Store
Reem Mall, Abu Dhabi’s new up and coming retail, entertainment, dining and leisure destination, has today announced that it is set to become home of the largest Sharaf DG store in the capital. Sharaf DG, UAE’s leading electronics destination, will be the flagship store for the city and form a core element of the mall’s […]
MAPIC: Al Farwaniya Property Developments Reveals Tenant Line-Up For Major 2.9m Sqft Reem Mall Project, Abu Dhabi
Al Farwaniya Property Developments today shares the tenant line-up for its super-regional Reem Mall project in Abu Dhabi – one of the largest retail property developments underway in UAE today. Reem Mall will deliver 2.9 million sq. ft. of retail, leisure, dining, entertainment and public space. Comprising around 450 stores from local and international brands […]
UPAC Records KD 2.5 Million Net Profits in Third Quarter of 2018
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 2018. UPAC recorded a net profit of KD 2.5 million in Q3 of 2018, an increase of 2.3% over the same period in 2017. The company’s net profit amounted […]
Reem Mall Showcases Industry Excellence Through New Health And Safety Initiative
In line with its commitment to promote industry-leading health and safety standards, Al Farwaniya Property Developments, the developer behind Abu Dhabi’s Reem Mall, has launched a unique new awards programme for its staff and contractors. The Reem Mall Health and Safety Awards is a new platform that showcases the importance of safe building practices to […]
Reem Mall demonstrates significant construction progress
Reem Mall, Abu Dhabi’s up and coming Retail, Dining and Leisure destination has announced the construction for the US $1.2 billion project is well underway, in line with the planned construction and finance targets. The construction for the mall commenced in late 2017, with the foundation stone laid earlier this year. Al Farwaniya Property Developments, […]
Reem Mall strives for digital innovation with appointment of Digital Experience Manager
Milat Sayra Berirmen, Harvard-alum and one of the business innovation industry’s most respectable strategists, has been appointed as Digital Experience Manager for Reem Mall, Abu Dhabi’s up and coming retail, dining, leisure and entertainment destination. The move underpins Al Farwaniya Property Developments’ ambition to place the US $1.2 billion Reem Mall project at the forefront […]
Construction of Abu Dhabi’s US$1.2bn Reem Mall gathers momentum
Al Farwaniya Property Developments, the developer behind Reem Mall, Abu Dhabi’s up and coming retail, dining and leisure destination, today showcased the construction progress of the US$ 1.2bn project. Construction of the mall commenced in late 2017, and within the first few months, 13 tower cranes have been erected and raft foundation works are well […]
His Excellency Sheikh Nahyan bin Mubarak Al Nahyan witnesses Reem Mall Foundation Stone Laying Ceremony
In presence of His Excellency Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance, as well as a number of senior Abu Dhabi government officials and industry leaders from the private sector, Al Farwaniya Property Developments celebrated laying the foundation stone today for Reem Mall, the US $1.2 billion project located on Reem Island. High […]
UPAC Holds it AGM for the Financial Year Ending 31st December 2017
United Projects for Aviation Services Company (UPAC), a leading commercial real estate and facilities management company, held today its Annual Ordinary General Assembly Meeting at the Public Authority for Industry, with a quorum of 94.890%. The company’s shareholders approved all the items on the agenda, including UPAC’s audited financial results, and endorsed the Board […]
Construction of $1.2bn Reem Mall Underway
Al Farwaniya Property Developments, the developer behind Reem Mall – Abu Dhabi’s latest retail, leisure and entertainment destination, today announced that construction of the $1.2bn project has commenced. The news comes after a $457 million senior credit facility was signed to complete the financing on the project and Itinera Ghantoot, a UAE-Italy joint venture, was […]
UPAC Successfully Completes Capital Increase Process
United Projects for Aviation Services Company (UPAC), a leading commercial real estate and facilities management company, announced that the subscription period for raising its capital has ended successfully. The company increased its issued and paid-up capital by KD 3,175,000 divided into 31,750,000 ordinary shares, with a total value of KD 20,002,500, including the issuance premium. […]
UPAC Signs a KD 50.1 million Loan Facility Agreement
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 […]
Azadea Group inks deal with Abu Dhabi’s Reem Mall to bring 11 stores to the US $ 1.2 billion project
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. As part of the agreement, […]
Reem Mall Group Names Construction Contractor
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. Itinera Ghantoot is a joint venture between Itinera, one of Italy’s largest construction companies, and Ghantoot, one of the UAE’s leading builders, which has extensive experience in Abu […]
Agility, UPAC, and NREC invest $1.2 billion in Abu Dhabi’s Reem Mall
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. “The business climate in Abu Dhabi is one of the […]
UPAC Reports KD 2.413 million Net Profit in Third Quarter of 2017
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 […]
UPAC Holds its AGM for the Financial Year Ending 31st December 2016
United Projects for Aviation Services Company (UPAC), a leading commercial real estate and facilities management company today held its General Assembly Meeting for the year ending 31st December 2016 with a quorum of 93.69%. The assembly has approved all items covered in the agenda, including the decision taken against the distribution of dividends for the […]
UPAC Announces First Quarter Financial Results in 2017
United Projects for Aviation Services Company (UPAC), a leading commercial real estate and facilities management company, today announced earnings of KD 2.18 million (27.72 fils per share) for the first quarter of 2017, recording a 14.5% increase compared to KD 1.9 million over the same period in 2016. UPAC’s revenues grew by 7.4% to KD […]
UPAC Organizes Blood Donation Campaign in Kuwait
United Projects for Aviation Services Company (UPAC), a leading commercial real estate and facilities management company, organized a blood donation campaign that saw 17 bags of blood, amounting to 8.5 litres, donated to the Kuwait Central Blood Bank. The initiative called “Blood is Life” took place over four hours in the Discovery Mall in Kuwait […]
Abu Dhabi’s Reem Mall set to offer Majid Al Futtaim Ventures’ range of world class entertainment offerings as part of landmark collaboration
Reem Mall, Abu Dhabi’s upcoming fashion, entertainment and dining destination, and Majid Al Futtaim Ventures, the leisure, entertainment, fashion and business arm of Majid Al Futtaim announced a significant new partnership, which will see the business bring its wide range of leisure and entertainment destinations – including the region’s first standalone, themed, indoor snow park – to […]
NREC announces 2016 financial results, reports 4.4% growth in net profit
National Real Estate Company (NREC), a leading regional and developer with USD2 billion in projects under development in the UAE, Egypt, and other markets, today released its financial results for the year 2016. 2016 Financial Highlights Operating Revenue: KD33.9 million, up 19.2% EBITDA: KD19.9 million, down 10.0% Net Profit to shareholders: KD16.1 million, up 4.4% […]
UPAC Announces Full-Year 2016 Financial Results
United Projects for Aviation Services Company (UPAC), a leading commercial real estate and facilities management company, today reported earnings of KD 8.4 million (107.52 fils per share) for full-year 2016, an increase of 24% from the prior year. UPAC revenue rose 3.6% to KD 13.2 million, compared with KD 12.7 million in 2015. Growth was […]
UPAC holds EGM to approve Amendments to its Articles
United Projects for Aviation Services Company (UPAC), a leading commercial real estate and facilities management company held its EGM yesterday to approve amendments to its articles to further include a wider range of real estate activities. This development will further support the Company’s existing activities as well as allow UPAC to expand its future activities […]
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UPAC Donates Medical Supplies to NBK Children Hospital for Haematology & Oncology
United Projects for Aviation Services Company (UPAC), a leading commercial real estate and facilities management company, donated specialized medical gowns and child-friendly medical hand wash dispensers to the NBK Children Hospital for Haematology & Oncology. The donated gowns and dispensers will benefit an estimated 150 children. The gowns are fashioned with colourful prints and shapes, […]
James Duncan Appointed Chief Projects Officer For Al Farwaniya And Reem Mall
Al Farwaniya, the developer of Abu Dhabi’s up-and-coming retail, entertainment and leisure destination Reem Mall, has today announced the appointment of James Duncan as the new Chief Projects Officer for the organization. Duncan is commissioned with leading the extensive programme that will develop the capital’s next retail project which will be home to more than […]
Shane Eldstrom Appointed Chief Executive Officer For Al Farwaniya And Reem Mall
Al Farwaniya, the developer of Abu Dhabi’s up-and-coming entertainment, dining and leisure destination Reem Mall, has appointed Shane Eldstrom as the new Chief Executive Officer for the company. An upward move from his previous position as Chief Operating Officer for Reem Mall, Eldstrom is now charged with carrying forward the company’s strategy, corporate vision and […]
UPAC receives ISO 9001:2008 certification in Kuwait
United Projects for Aviation Services Company (UPAC), a leading commercial real estate and facilities management company, recently acquired the ISO 9001:2008 certification for quality management systems by SGS Kuwait. The certificate was awarded following a stringent site audit of all UPAC managed facilities, the first time the company has received this certification. ISO 9001:2008 is […]
Dubai Holding Group and Reem Mall announce partnership to bring new retail offering to Abu Dhabi
Reem Mall, Abu Dhabi’s upcoming fashion, entertainment and dining destination in the heart of Abu Dhabi, announced this morning that it has signed terms of agreement with Dubai Holding Group. Commenting on this latest development for the much anticipated US $1bn project, Shane Eldstrom, Chief Operating Officer for Reem Mall said: “We are very pleased […]
UPAC Announces Financial Results for Q3 2016
United Projects for Aviation Services Company (UPAC), a leading commercial real estate and facilities management company today announced its Q3 2016 financial results. The company recorded Revenues of KD 3.486 million, a 9.7% growth compared to the same period in 2015; and a Net Profit of KD 2.336 million, a 47.2% growth compared to the […]
NREC Named among top 25 listed developers in the Arab World by Forbes Magazine
National Real Estate Company (NREC), one of the developers of Reem Mall, Abu Dhabi’s new and upcoming lifestyle destination, was recognized as one of the ‘Top Real Estate Companies in the Arab World’ by Forbes Middle East. In an exclusive gala dinner held by Forbes Middle East, the biggest developers, agencies, and international property consultants […]
Kuwaiti developer says H1 net profit rises by 52%
National Real Estate Company (NREC), a Kuwaitbased developer with projects exceeding $1 billion in both Egypt and the UAE, has recorded growth in topline earnings of 52 percent and a net profit KD7.6 million. The company behind the upcoming Reem Mall in Abu Dhabi, said revenue growth was driven by income generating assets in Kuwait, Jordan and […]
Landmark Group Signs Major New Deal with Abu Dhabi’s Reem Mall
Landmark Group, the region’s leading retail and hospitality conglomerate, today announced a major new agreement with Reem Mall, Abu Dhabi’s latest retail and leisure destination, which will see 23 new stores opening in the UAE capital. As part of the agreement, the two million square feet mall, located on Reem Island, will host some of […]
Carrefour signs up for Abu Dhabi’s Reem Mall
Reem Mall, Abu Dhabi’s new up and coming entertainment, dining and shopping destination, has today announced Carrefour as the Hypermarket operator in the US$ 1 billion project located on Abu Dhabi’s master planned development Reem Island. Carrefour, operated by Majid Al Futtaim Retail, the retail arm of Majid Al Futtaim, the leading shopping mall, retail […]
Reem Mall Uses Yardi Voyager 7S for Retail Property Management
Reem Mall, a new world class shopping, leisure and entertainment destination in Abu Dhabi, has automated property management and accounting with Yardi Voyager® 7S, a tablet-compatible, Software as a Service property management and accounting platform. Reem Mall also implemented Yardi Commercial LeasingPad™, which provides contact and prospect management as well as portfolio health analytics with […]
Reem Mall recognised by Abu Dhabi Urban Planning Council for sustainable design efforts
Reem Mall, Abu Dhabi’s major new up and coming retail, leisure, dining and entertainment destination, has today announced that it has been awarded the Estidama 2 Pearl Design Rating by the Abu Dhabi Urban Planning Council (UPC). Estidama is an initiative developed and promoted by the UPC for large-scale sustainable urban developments. It seeks to […]
Al Farwaniya, Developer For Reem Mall Receives Developer License
Abu Dhabi, UAE, 11 April 2016: Al Farwaniya Property Development, LLC, the partnership established between NREC and UPAC for the development of Abu Dhabi’s major new up and coming retail, leisure, dining and entertainment destination Reem Mall, has received its Developer License from the Abu Dhabi Department of Municipal Affairs under the provisions of the […]
$1bn Reem Mall developer says 2015 net profit up 47%
The developer behind Abu Dhabi’s $1 billion Reem Mall project has announced a 47.2 percent rise in net profit in 2015 compared to the previous year. Kuwait-based National Real Estate Company (NREC) said in a statement that it recorded KD15.4 million in net profit for the year. NREC CEO Samuel Sidiqi said, “We are pleased […]
Reem Mall appoints Funtastic to manage and co-ordinate retail design and delivery
Reem Mall, Abu Dhabi’s major new up and coming retail, leisure, dining and entertainment destination, has appointed Funtastic as Retail Design and Delivery Managers for the US$ 1 billion project.
Abu Dhabi’s Urban Planning Council grants detailed planning approval for $1 Billion Reem Mall Project
Developers for Reem Mall, the UAE capital’s up and coming leisure, shopping, entertainment and dining destination, today announced that the $1 billion project has been granted detailed planning approval by the Abu Dhabi Urban Planning Council (UPC), marking the final go-ahead required to take the project to the next stage.
Construction begins on $1 Billion Reem Mall Project
Senior project stakeholders break ground on site on Abu Dhabi’s Reem Island
Reem Mall unveiled to region’s retailers
Reem Mall, the new up-and-coming entertainment, leisure, dining and shopping destination in the heart of the new Abu Dhabi, was today unveiled to the region’s retailers.
Reem Mall to house the world’s largest indoor snow-play park
Developers behind Reem Mall, Abu Dhabi’s new up and coming entertainment, leisure, dining and shopping destination, today revealed that the $1 billion development will become home to the world’s largest indoor snow-play park.
Reem Mall announces new corporate structure and key executive appointments
The National Real Estate Company (NREC) and United Projects for Aviation Services Company (UPAC), the developers of Reem Mall, have today announced a new corporate structure for the US$ 1 billion project.
Reem Mall concept plans given green light by Abu Dhabi urban planning council
The development of Reem Mall, Abu Dhabi’s up and coming entertainment, dining and shopping destination, has taken a significant step forward after Abu Dhabi Urban Planning Council (UPC) granted approval for the project’s concept plans.
Faithful+Gould join Reem Mall development team
Faithful+Gould, one of the world’s leading integrated project and programme management consultancy firms with a strong foothold in the region, has been announced as the latest professional advisor to join Abu Dhabi’s US$ 1 billion Reem Mall project.
Dewan Architects & Engineers begin work on Abu Dhabi’s Reem Mall
Dewan Architects & Engineers, one of the most highly ranked MENA Architecture firms, has begun work on the design of Reem Mall, Abu Dhabi’s new up and coming entertainment, dining and shopping destination.
International Consultants Mace Appointed to project manage Abu Dhabi’s Reem Mall
National Real Estate Company (NREC), one of the leading MENA real estate developers, has appointed international consultants Mace to project manage the development of Reem Mall, Abu Dhabi’s new entertainment, dining and shopping destination.
NREC & UPAC announce new partnership to develop Reem Mall
National Real Estate Company (NREC), one of the leading MENA real estate developers, has announced a new partnership with United Projects for Aviation Services Company (UPAC) to develop Reem Mall – one of Abu Dhabi’s most important retail destinations.
Stuart Ingram appointed as director of development for The Reem Mall
National Real Estate Company (NREC), has appointed Stuart Ingram as Director of Development for The Reem Mall, Abu Dhabi’s new retail, leisure, dining and entertainment destination
NREC recruits MSQUARED as retail consultants on the REEM MALL
National Real Estate Company (NREC), has assigned mSquared Shopping Centres as retail consultants for The Reem Mall, the new retail, leisure, dining and entertainment destination in Abu Dhabi.
RTKL appointed as design consultants for the Reem Mall
National Real Estate Company (NREC), one of the leading MENA real estate developers, has announced the appointment of RTKL as the design consultants for The Reem Mall, Abu Dhabi’s new retail, leisure, dining and entertainment destination.
