(URRC) was established in 2005 as a closed share holding Company with a paid-up capital of KD 20 million.
Major shareholders of the company are SITCO General Trading & Contracting Co., being the largest ownership of shares; it is represented in the Board of Directors and the other Shareholders are as follows:
Al Ahlia Investment Company, Al Ahli Bank of Kuwait and other reputed companies and individual investors from Kuwait.
URRC's core focus is Real Estate Development and one of the prestigious projects that currently developed is the “OLYMPIA PROJECT” in Kuwait. This project is developed on a construction & management agreement between URRC and the Olympic Council of Asia (OCA), the project has set new standards in Quality, Architectural Design, Landscape and as well as in the Construction field.
Construction works of OLYMPIA PROJECT started in the year 2005 and completed by mid-2011.
Besides being a host of commercial and office spaces, Olympia will also be home to a 215-room Five Star Hotel that would be operated and managed by the prestigious Hilton Group of Hotels. The hotel is commenced operations in the Second Quarter of 2011.
• Olympia Project
Olympia Located in the heart of Salmiya, opposite the famous Kuwait Scientific Center, Olympia has been built and designed as a multi-purpose complex with a built-up area of approximately 132,000 SQM.
Olympia comprises of the following:
• Twin Office Towers of Twenty Two Storeys each
• Five storey Commercial Mall
• Five Star Hotel (Hilton)
• Head Office of the Olympic Council of Asia (OCA)
• Underground Car park facility for 600 cars
A major part of the Office towers is occupied by “VIVA” - a reputed Saudi Telecom Group and “EQUATE” - a Petro-Chemical giant company that is partially owned by the Kuwait government and an international joint-venture with The Dow Chemical Company (Dow) from USA.
Olympia is home to several widely-admired international brands and popular restaurant chains.
The Five Star Hotel will be operated by the prestigious “Hilton Group of Hotels”. It will cater primarily to the accommodation needs of Business Travellers. The hotel also offers Conference facility, Meeting Rooms and venues to conduct Business Seminars.