United Towers Holding Company Emerged in 2001 to further expand the operations of United Real Estate Company and its associates. United Towers Holding Company concentrates on real estate investment, development and management activities. The company has acquired a par-negotiated real estate portfolio consisting of: Al-Shaheed Tower (an 18 storey existing class A office tower); City Tower (a 22 storey existing class A office tower); United Tower Land plot of 4,852 Sqm on which United Towers, an exquisite architectural masterpiece, is being constructed. Situated adjacent to each other these 3 properties, on a completion of the United Tower in 2011.The Chairman of the Board of Directors of United Tower Holding Company, Ahmad Saud Al-Sumait, has announced during the contract signing ceremony held at the Shaheed Towers that Al Ahmediya contracting company will be the contractor of the United Tower Project. Al Ahmediya is a major company in the field of construction and also specialize in building high rise towers. Mr. Al Sumait also stated that the United Tower is the first prestigious project of the United Towers Holding Company and is the beginning of many projects which conveys the real estate boom and gives an added beauty value to the State of Kuwait. The tower is located in the Financial District of Kuwait city (Sharq area), with a land area of 4800 m2 and contains 60 floors. It boasts of 5 commercial floors and contains deluxe cafés , a Business Center, a Health Club consisting of modern sports equipment and a commercial mall. The tower is serviced with a car park which can accommodate approximately 1000 cars.
United Towers Co. (UTC), a share holding company, issued additional 449 million new shares to reach 450 million shares in April 2006.The company undertakes real estate investment, development, and management activities. UTC is managed by United Real Estate Company (UREC). UREC has purchased 180 million shares in UTC which represents 40% of paid up capital. The company acquired its initial real estate portfolio from UREC and it would include two existing projects which are Al Shaheed Tower, City Tower, and one new project which is United Towers.
United Tower wil be a landmark development in Kuwait,
offering office space, residential and retail within a 59-storey architectural marvel.
When completed in 2010, United Tower wil take on a place of distinction within the
urban landscape of Kuwait City.
Located in the heart of the Sharq district the tower represents a perfect fusion
of vision and design – seting new architectural and building standards within Kuwait.
The size of Kuwait’s development and wealth is unprecedented.
The heritage that comes along with its city is historic and rich of coloquial flavour.
Kuwait’s development coupled with its attractive benefits of prosperity places United Tower
at the center of one of the Midle East’s fastest, and uniquely flourishing, metropolises.
In addition to its architecture, it holds the position of being the one of the highest
commercial building in the city.
This building is a visionary tower to reality – and offers a classic and mixed use for business,
individuals and retailers.
BUSINESS SPACE The busines space is a place to ‘be’. It is a space to be inspired, to influence and to be influenced – it is a space to envision and to elevate. It is every day work in an environment that gives space to be a leader with thoughts and ideas. United Tower is built on your corporate aspirations with a contemporary busines atmosphere and a refined seting. UT combines high-end technology, using its SMART operations, with a space that fosters suces through its cohesivenes and modernity. Each flor is designed, and developed, based on the unique shape of the tower.
LIVING SPACE Embark onto a journey - a journey that allows you to enjoy the panoramic view from the sky. Immerse yourself into the exuberance of a tranquil lifestyle. Unwind and create a niche for yourself with the right blend of harmony and resonance. Make yourself at home at UT`s living space made for comfort, elegance and grace.
LEISURE SPACE Experience our exceptionally elegant boutique stores. Indulge and revel in the exclusivity of the brands, refined to your taste. Relax and rejuvenate in our elegant landscapes. Be among the clouds where the sky is truly the limit in our luxurious and unique leisure space.
EXPERIENCE Experience an environment of busines and living like in no other city. Experience luxury and world-class quality of leisure and life like never before. Experience the comfort, harmony and efficiency of a concierge service, specialized care and refined accommodation in no other place than United Tower.OUR SHAREHOLDERS
1. United Real Estate Company (40%)
Was established during an era, where the local market witnessed growth in citizens' perception towards the shareholding company and thus investing in the local companies' shares that were placed for public subscription. Therefore, citizens started to register in the company's shares located for public subscription driven by their trust towards the company's founders that supports the company to achieve its objectives and activities specified at the memorandum of agreement and articles of association and founders' report disclosed by the general assembly. Being established in 1973 with the objective of attaining a leading regional position and global presence in the real estate market, the United Real Estate Co. (URC) stands today as one of the leading companies in its field. In Kuwait, the Middle East and beyond, the company has acquired a sound reputation for superb quality and boundless commitment.
2. Global Investment House (19.3%)
Is a Kuwaiti investment company licensed by the Central Bank of Kuwait. Since its founding in 1998, Global has grown to become one of the leading asset management and investment banking companies in the GCC and the wider Middle East and North Africa ("MENA") regions. Global was established to meet the high expectations of local and international clients, enhance the investment service industry in Kuwait and implement the ambitious goals of an experienced management team and a sophisticated list of shareholders. Our business philosophy is to build distinguished relationships with our clients, business partners, shareholders, and staff based on professionalism and trust resulting in stronger returns to all parties involved. Global has one of the largest asset management businesses in the region by reference to assets under management ("AUM"). Global also has one of the largest principal investment and proprietary trading operations in the region by asset size. As an investment bank, Global is a leading manager of private placements and public offerings and acts as a strategic advisor to corporations, governments, institutions and individuals in the GCC region. Global has access to a large client base comprised of individuals and institutions investors that are predominantly based in the GCC region. At Global, we strive to develop and market high quality, value added, consumer-preferred financial products and services that exceed our clients' expectations. We meet our objectives by investing in various fields that develop our business for the future, based on pre-set core values and principles. During the initial years of its operations, Global focused primarily on investment products in Kuwait and offering Kuwaiti, GCC and international products in the Kuwait market. After establishing its position in Kuwait, Global commenced a strategy of geographical expansion by establishing branches and subsidiaries in other GCC countries, the broader MENA region and other emerging markets such as India and Pakistan. Global currently has a local presence in 16 countries: Kuwait, Saudi Arabia, UAE, Bahrain, Oman, Qatar, Jordan, Egypt, Tunisia, Sudan, Yemen, Turkey, Pakistan, Hong Kong, China, and India
3. KIPCO Asset Management Co. (10.1%)
Established in 1998, KAMCO is a member of Kuwait Projects Company (Holding) group, which is among the largest holding companies in the Middle East, with a regional network of companies which enjoy leading positions in their respective fields. In June 2003, KAMCO increased its share capital from KD 15 million to KD 20 million. As of October 2003, KAMCO became listed on the Kuwait Stock Exchange. KAMCO offers its clients comprehensive access to local and international capital markets as well as a comprehensive selection of financial services. These services are provided by a team with a proven track record which is able to develop customized solutions to meet individual client needs. KAMCO focuses on two major activities: Asset Management and Financial Services. Our asset management services include brokerage, tailored portfolio management, forward trading, IPOs, local and international fund management, own label and third party funds (KAMCO also offers as comprehensive investment research services). KAMCO’s strong presence in the financial marketplace has been reflected in the dynamic growth of its assets under management which now stand at nearly KD 2.6 billion. Our financial services comprise the full range of corporate finance advisory services, including mergers and acquisitions, underwriting, private placements, strategy development and strategic planning, project and investment evaluation and consulting as well as private equity. Headquartered in Kuwait but with affiliations that span the globe, KAMCO enjoys a leading position and competitive advantages over other investment firms in Kuwait. Our aim is to serve all our clients’ needs and constantly bolster our position as one of the leaders and innovators in asset management and financial services in the Middle East.
4. Global Investment Co. (7.1%)
5. Global Fund (16.8%)
6. Al-Qanas1 (6.7%)
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