Mubasher: United Projects Company for Aviation Services (UPAC) has registered several investments in fiscal year 2017, namely related to developing the Reem Mall project in Abu Dhabi, the CEO and deputy chairman of UPAC, Nadia Akil, told Al Rai Newspaper.
UPAC’s project in the UAE is considered the milestone for expansion in the Middle East and North Africa (MENA) region, Nadia Akil clarified, as reported by Al Rai.
The CEO said that as profits and revenues grow on an annual basis, this increase reflects that the company is on the right track, Al Rai said.
Boursa Kuwait-listed UPAC has appointed Itinera Ghantoot, a UAE-Italy joint venture, to be the main contractor for the project in the UAE, Akil added.
UPAC is developing the Reem Mall complex in line with National Real Estate, a company listed on Boursa Kuwait.
Earlier on Tuesday, UPAC’s stock increased by 20% to be the top winner, following the disclosure of its FY17 income statements.
