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 and current market needs and provide a necessary framework to support the Company’s future growth strategy in the Real Estate realm.
UPAC manages a total of over 24,000 square meters of commercial space between the Kuwait International Airport, Sheikh Saad Terminal and other prominent locations in the country. The company is also developing the Abu Dhabi based, Reem Mall in partnership with the National Real Estate Company (NREC) investing up to US$224 million over the next three years through its subsidiary, Al Arfaj Real Estate Company. The Reem Mall covers an area of 2 million square feet and is slated to become a major retail, leisure, and entertainment destination once complete in 2018.
