United Projects for Aviation Services Company (UPAC), a commercial real estate and facilities management company, today announced its financial results for the nine months ended 30 September 2026.
The Group recorded revenue of KD 1.57 million for the nine months ended September 30, 2026, representing a 55% decrease compared with KD 3.52 million during the corresponding period in 2025.
For the third-quarter 2026 results, the financial indicators showed improvement compared with the same period of the previous year. The Group’s revenue increased by 160% to KD 587,000, compared with KWD 226,000 in the third quarter of 2025.
Commenting on these results, Eng. Hamad Malallah, Chief Executive Officer of UPAC, said:
“The results for the nine months ended September 30, 2026, were largely in line with our expectations, reflecting the completion of operating activities related to previous projects, while the Messilan Beach project progressed through its initial operational stages. We look forward with confidence to maintaining stable performance and continuing to achieve gradual and sustainable improvement throughout the remainder of the year and in the years ahead.
“Our operating assets and investments continue to perform in line with the established strategic plans, supported by progress across our key projects and continued improvement in their operating indicators. The Group also remains focused on managing its financial resources efficiently, supporting its ability to continue implementing its existing projects and evaluate promising investment opportunities, while always seeking to create added and sustainable value for our shareholders.”
Messilah Beach
Malallah added: “We’re pleased with the momentum at Messilah Beach. The summer season opened at our pool-side area in the third quarter, and since the start of the year we have hosted several high-impact events featuring a curated mix of dining and leading entertainment partners. Our teams continue to work closely with our confirmed operators to support on-ground operations and speed up upcoming tenant openings. We remain focused on delivering an exceptional, family-friendly beachfront destination and establishing Messilah Beach as a vibrant, year-round landmark in Kuwait.”
With the winter season approaching, Messilah Beach will welcome Aloha, a seasonal, Hawaiian-inspired beachfront experience organized by Elevated Entertainment Company. Aloha will offer attractions for all ages, including family rides, thrill experiences, interactive activities and a dedicated children’s area. Daily live performances on the main stage, roaming entertainers, shoreline cabanas, relaxation areas and around 20 food, beverage and retail outlets will complete the experience.
Reem Mall, Abu Dhabi
UPAC is a co-investor in Reem Mall, Abu Dhabi’s $1.3 billion shopping, dining and entertainment destination on Reem Island. Reem Mall delivered strong Q3 performance, with occupancy reaching around 90% across trading and fit-out space, representing 167 thousand sqm of leased GLA and 301 leased units. with footfall and tenant sales both recording double-digit year-on-year growth. August was the mall’s strongest month on record for both footfall and sales. Q3 also saw the opening of 11 new operators, with momentum expected to continue into Q4 2026 and Q1 2027, supported by upcoming openings and leasing activity.
The mall is one of the region’s first fully integrated omnichannel retail ecosystems with digital, e-commerce, and logistics capabilities. It brings together all consumer and retail services to ensure a seamless customer experience.
