United Real Estate Company S.A.K.P. signed memorandum of understanding to acquire Al Dhiyafa Holding Company K.S.C.C. / United Towers Holding Company K.S.C.

United Real Estate Company SAKP is a Kuwait-based shareholding company that operates in the real estate sector. The Company is engaged in dealing in various real estate activities, particularly the purchase, sale, leasing and renting of land and buildings; the construction of private and public buildings and projects; the construction and operation of hotels in Kuwait and abroad, and the management of third party properties in Kuwait and abroad. The Company is organized, along with its subsidiaries, into four business segments: the Rental operations segment consists of leasing of properties; the Hotel operations segment provides hospitality services through Marina Hotel, Fairmount Hotel and Bhamdoun Hotel; the Property trading segment consists of the purchase and resale of properties, and the Real estate development segment includes the development of real estate properties.