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MENAFN Press - 01/04/2014
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URC's Executive Vice President, Renimah Ali Al Mattar
(MENAFN Press) United Real Estate Company (URC), the leading real estate developer in the MENA region announced today that one of its retail projects, Salalah Gardens Mall and Residences (SGM/SGR), in Oman is the National Winner of MEED's "Leisure & Tourism Project of the Year" as part of the 2014 MEED Quality Awards



With assets over US 1.67 billion as of December 2013, URC has proven to be a market leader in the MENA region through a track record of properties set in prime locations. The MEED Quality Awards Projects recognize companies at the forefront of the industry who introduce projects and add value to communities, both on a social and economic level. Salalah Gardens Mall and Residences was selected as the "Leisure & Tourism Project of the Year" for Oman by a panel of judges who rated projects based on economic, social and environmental impacts, engineering and design challenges as well as design methodology and innovative techniques.



Commenting on the award win, URC's Executive Vice President, Renimah Ali Al Mattar said, "It brings us great pleasure to announce that Salalah Gardens Mall and Residences has been selected as "Leisure & Tourism Project of the Year" for Oman by a reputable and regional organization such as MEED. We as developers hava new role to fill, which is to ensure that our commercial projects contribute to the economic and social development of the city. URC had to overcome various challenges with respect to sourcing contractors and materials readily available in order to introduce a project of this standard for the first time in Salalah, Oman."




Completed in Q2 2013, SGM embraces traditional Omani architectural design with a large landscaped courtyard and integrates modern interior and finishings. The mall has a total built-up area of 86,074 sqm and introduces a wide variety of shopping, dining and entertainment options such as the first modern cinema complex in Salalah, and an indoor arcade and play area. The mall also features a designated souq area for traditional Omani handicrafts and a hospitality component, Salalah Gardens Residences (SGR), comprised of one, two, and three bedroom hotel apartments.

For the 4th consecutive year, the MEED Quality Awards have become the premier platform within the construction industry to recognize outstanding real estate projects across the GCC. The program recognizes, celebrates and rewards the project owners and key project teams who completed the highest quality projects in the GCC region between January 2012 and December 2013



About United Real Estate Company
Note to EditorsAbout URCUnited Real Estate Company (URC) is one of the MENA region's leading real estate developers, with total assets of KD 473 million (US 1.67 Billion) as of December 31, 2013. Headquartered in Kuwait, URC was founded in 1973 and was listed on the Kuwait Stock Exchange in 1984. URC primarily operates in the Middle East and North Africa (MENA) region through a number of operational subsidiaries and investments arms. The company's portfolio includes commercial complexes, hotels, resorts, residential buildings, shopping centers, high rise office buildings, as well as mixed use developments. Operational assets in Kuwait include, KIPCO Tower, Marina Hotel, Marina Mall as well as Salalah Gardens Mall & Salalah Gardens Residences in Oman. Regionally, URC is developing Abdali Mall in Jordan, Raouche View at 1090 in Lebanon, Aswar Residences in Egypt and Junoot Resort in Oman.URC's majority shareholder is Kuwait Projects Company (KIPCO), one of the biggest holding companies in the Middle East and North Africa, with consolidated assets of US 30.5 billion as of December 31, 2013. The Group has significant ownership interests in over 60 companies operating across 24 countries. The group's main business sectors are financial services, media, real estate and manufacturing. Through its core companies, subsidiaries and affiliates, KIPCO also has interests in the education and medical sectors.

 


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