United Real Estate Company · KSE:URC
United Real Estate — FY2025 Earnings Presentation
26 slides from United Real Estate's earnings presentation, March 2026
Slide 1: FY 2025 Analyst/Investor Presentation
FY 2025 Analyst/Investor Presentation
Slide 2: Disclaimer
Disclaimer The information contained in this presentation is provided by United Real Estate Company K.S.C.P. (the “Company” or “URC”) or any person on behalf of the Company, (the “Information”). This presentation has been made for informational purposes and does not involve an invitation to subscrib
Slide 3: Table of Contents
Table of About Us Contents Key Developments Financial Performance ESG Update 3
Slide 4: United Real Estate Company is a leading property developer shaping the urban landscape
United Real Estate Company (URC) is a leading property developer shaping the urban landscape in Kuwait and the wider region. The company delivers high-quality residential, commercial, hospitality, and mixed-use developments, consistently demonstrating a strong commitment to quality and innovation. U
Slide 5: Overview
Overview
Slide 6: Key Facts & Figures
Key Facts & Figures 1973 +50 + 3Bn YEARS USD Established in Of Legacy and Growth Assets under Management (1) 1984 361Mn 5.9Mn KD SQM Listed in Boursa Kuwait Market Capitalization (2) Total Plot Area of URC Developments & Lands +60 Total Number of Projects BBB- Credit Rating (3) 66% KIPCO Ownership (
Slide 7: Our Footprint & Business segments
Our Footprint & Business segments Lebanon Jordan Kuwait Bahrain UAE Morocco Oman Saudi Arabia Egypt Rental operations Hospitality operations Real Estate development Contracting and services Total Leasable area and Property trading 1,100 Keys UBC and UFM 223K SQM 7
Slide 8: Current portfolio - Kuwait
Current portfolio - Kuwait KIPCO Tower Marina World Hessah District City Tower Al-Shaheed Tower Al-Maseel Al Mutahida 8
Slide 9: Current portfolio - Regional
Current portfolio - Regional Gardens Mall & Salalah Abdali Mall Gardens Hotel Waldorf Astori Hilton Cairo Heliopolis Raouche View at 1090 Assoufid Phase II Jordan Oman Egypt Egypt Lebanon Morocco 9
Slide 10: Key Developments
Key Developments United Real Estate Co [ URC eee
Slide 11: Sharq Waterfront
Sharq Waterfront In March 2026, URC was awarded the tender for the upgrade, development, major maintenance, management, and operation of Phase 3 of the Seafront Project “Souq Sharq” tendered by the Kuwait Authority of Partnership Projects (KAPP). Souq Sharq, established in 1998, marked a pivotal mom
Slide 12: NOBU Residences
NOBU Residences In October 2025, URC announced partnership with Nobu Hospitality to bring first Nobu residences and restaurants to Kuwait at Hessah Plaza. The Project will feature 90 exclusive luxury serviced residences, a ballroom and a signature Nobu restaurant. Targeted opening in H2 2026. 12
Slide 13: Hessah District
Hessah District Operations started in retail and F&B segment of Hessah’s business district, Hessah PLAZA and Hessah HUB. Over 90% of construction is completed in Hessah Work, Hessah Suites and Hessah Health (Targeted completion by end 2026). Construction of residential components have been completed
Slide 14: Plot 42 - Luxury Residential Tower
Plot 42 - Luxury Residential Tower Set in a prime position in the coveted Hessah Al Mubarak District, this 40-storey architectural masterpiece redefines luxury living along the Arabian Gulf. With only one private residence per floor, each home offers unmatched privacy, breathtaking views, and timele
Slide 15: S5 - Sabah Al Ahmad
S5 - Sabah Al Ahmad In January 2025, URC signed a partnership agreement between its subsidiary and Public Authority for Housing Welfare to develop a commercial and entertainment destination across three plots S5- A/C/D, at Sabah Al Ahmad area. The project Gardens is an inclusive community aims to cr
Slide 16: Masirah Island, Oman
Masirah Island, Oman In June 2025, URC Oman signed a contract to develop and operate an integrated tourism complex in the Masirah province, Oman. The project includes hospitality, residential and commercial components and envisions a vibrant community destination that celebrates the island’s natural
Slide 17: Financial Performance
Financial Performance United Real Estate Co [ URC eee
Slide 18: Financial Performance: FY 2025 - Revenue
Financial Performance: FY 2025 Revenue KD Mn Revenue by Geography (%) Revenue by Segment (1) (%) +16.3% 3% 2% 1% 2% 4% 19% 103.3 47% 88.8 15% 75% 32% Contracting and services Rental operations FY 2024 FY 2025 Kuwait Egypt Jordan Oman Lebanon Europe Hospitality operations Real estate development and
Slide 19: Financial Performance: FY 2025 - Gross Profit
Financial Performance: FY 2025 Gross Profit KD Mn Gross Profit by Segment (1) (%) 35% 31% 13% +2.9% 31.0 31.9 18% 69% Rental operations Hospitality operations FY 2024 FY 2025 Contracting and services Real estate development and trading M arg in % (1) Before inter-segment elimination 19
Slide 20: Financial Performance: FY 2025 - Operating and Net Profit
Financial Performance: FY 2025 Operating Profit KD Mn Net Profit (1) KD Mn 20% 23% 5. 7% 5. 9% +30.7% +20.1% 23.5 6.1 5.1 18.0 FY 2024 FY 2025 FY 2024 FY 2025 M arg in % (1) Attributable to the shareholders of the company 20
Slide 21: Financial Performance: FY 2025 - Total Assets
Financial Performance: FY 2025 Total Assets KD Mn Assets by Geography (%) Assets by Segment(1) (%) 7% 14% +2.3% 19% 672 688 10% 38% 45% 16% 29% 22% Rental operations Kuwait Egypt Jordan Oman Others Real estate development and trading FY 2024 FY 2025 Hospitality operations Contracting and services (1
Slide 22: Financial Performance: FY 2025 - Debt and Equity
Financial Performance: FY 2025 Gross Debt KD Mn Gross Debt by Type (%) Shareholder’s Equity KD Mn 8% (1.6%) +3.4% 366 360 196 203 92% FY 2024 FY 2025 Non-Current Current FY 2024 FY 2025 22
Slide 23: Financial Performance Ratios: FY 2025
Financial Performance Ratios: FY 2025 Key Performance Indicators FY 2024 FY 2025 Earnings per share (fils) 3.91 4.58 Return on Average Equity (%) 2.7% 3.1% Book Value per share (fils) 151 149 Total Assets / Total Equity (x) 3.3x 3.3x Net Debt / Total Equity (x) 1.7x 1.6x 23
Slide 24: ESG Update
ESG Update
Slide 25: Strategic ESG Pillars
In 2025, URC published its first Sustainability Report in accordance with the Global Reporting Initiative (GRI) standards and aligned with the United Nations Sustainable Development Goals (SDGs). URC remains committed on its Environmental, Social, and Governance (ESG) journey by considering and alig
Slide 26: Thank You
Ganig| Cjliod! a5 pub | URC United Real Estate Co THANK YOU
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