Yopak loses 779,000 dinars in the first half
The Group recorded a net loss of 779,000 dinars during the first half of 2026, equivalent to 2.10 fils per share, compared to a net profit of 497,000 dinars during the same period in 2025. Group revenues amounted to 987,000 dinars, down from 3.3 million dinars in the corresponding period of the previous year.
Commenting on the financial results, Eng. Hamad Malallah, CEO of Yubak, said: “The results for the first half of 2026 were largely in line with our expectations, and we look forward to maintaining stable performance for the remainder of the year. As we previously outlined, the decline in revenues and net results compared to the same period last year is primarily attributable to the expiration of the operation and management contract for Terminal 1 at Kuwait International Airport in 2025, which was one of the Group’s main revenue sources. In parallel, the Group’s operating assets and current investments continued to perform in line with approved plans, supported by progress in strategic projects and the gradual improvement in performance indicators for our key assets. This reinforces our confidence in the Company’s ability to adapt to economic and operational changes and to continue executing its strategy and achieving its long-term objectives.”
He added: “Yubak continues to implement its strategy aimed at diversifying revenue streams and enhancing the value of its investment assets. We are witnessing tangible progress in the Musaylah Beach project, which represents one of the Group’s key pillars for future growth following the conclusion of the airport contract, and serves as a strategic platform for diversifying revenues and boosting long-term operational returns. The Group has also maintained a strong financial position and adequate liquidity levels, supporting its future operational and investment plans, and enabling it to continue developing current projects and capitalizing on promising opportunities to deliver sustainable value to shareholders.”
During the second quarter of the year, the Musaylah Beach project saw the opening of several new brands, including “Ananas,” “&Cookies,” “ChocoMelt,” and “RC Arena,” the first remote-controlled (RC) car racing experience in Kuwait, alongside the launch of “Flo Island” within the project’s pool area.
Yubak also continued to organize a series of community and recreational events and activities at Musaylah Beach, featuring diverse experiences in food and entertainment, aimed at enhancing visitor experience and solidifying the project’s position as a comprehensive beach and leisure destination in Kuwait.
In line with its ongoing commitment to the highest standards of safety and business continuity, Yubak closely monitors geopolitical developments in the region and continues to strengthen its operational readiness through periodic reviews of emergency plans and risk management across all its facilities, contributing to the protection of employees and visitors and ensuring business continuity in accordance with best practices.
Malallah concluded: “Our teams continue to work closely with operators and tenants to support their operational readiness and prepare for upcoming openings in the near future. We expect the second half of the year to witness further operational developments and new openings at the Musaylah Beach project. We look forward to continuing the development of the project and reinforcing its position as a leading year-round beach and leisure destination, offering a comprehensive experience for families and visitors in Kuwait.”
On the front of its regional investments, Yubak continues its investment participation in the Remeah Mall project, one of the most prominent modern retail and entertainment developments in the Emirate of Abu Dhabi. The project, with a development cost of approximately $1.3 billion, is located in the heart of Reem Island.
