United Real Estate Company (URC) has demonstrated tangible improvements in profitability, thanks to strong performance in its existing portfolio.
In the first quarter of 2024, URC achieved a net profit of KD2 million ($6.5 million), a slight increase from the same period of 2023. The firm also managed to successfully reduce its debt by KD9 million.
The developer’s hospitality segment has shown increased operating revenues, even as revenues from the contracting sector have stalled.
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