United Real Estate Wins 3.11 Million Kuwaiti Dinars

United Real Estate Company reported a net profit of 3.11 million dinars for the first half of 2026, down from 4.43 million dinars during the same period in 2025. Earnings per share amounted to 2.27 fils, compared to 3.4 fils.

United Real Estate explained that the decline in net profit was primarily due to lower profits from certain associate companies, resulting from the completion of apartment deliveries in the Dhasa Suburb project, as well as the impact of geopolitical developments in the region on the hospitality sector, which affected travel flows and hotel occupancy rates. This occurred despite an improvement in operating profit, revenue growth in other sectors, and a reduction in net financing costs.

The company also recorded a 20 percent growth in total assets, reaching 826.7 million dinars by the end of the first half, compared to 687.6 million dinars. Gross profit rose to 17 million dinars, up from 16.5 million dinars.

The results showed a slight improvement in operational performance indicators, with operating revenues increasing to 49.5 million dinars, compared to 49 million dinars. Operating net profit also rose by 10.2 percent to reach 13.42 million dinars, compared to 12.2 million dinars.

Commenting on the financial results for the first half, Group CEO Mishaan Al-Mohilani said, “Our results reflect the continued stability of operational performance. We have achieved balanced growth in revenues and operating profits, despite ongoing geopolitical challenges and their impact on several key sectors.”

Al-Mohilani added that the company continued to implement its strategic priorities during the first half, focusing on enhancing operational efficiency, improving asset quality, and maintaining discipline in cost and financing management, thereby supporting business resilience in the face of economic changes.

He further noted that the company aims to build on this performance in the second half of the year by continuing to develop its investment portfolio and capitalizing on selective opportunities, which will enhance returns and deliver sustainable value to shareholders.