(MENAFN- Bensirri PR) KUWAIT – 13 November 2025 – United Projects for Aviation Services Company (UPAC), a commercial real estate and facilities management company, today announced its financial results for the third quarter of 2025. For the nine months ended September 2025, the company reported a net loss of KD 271 thousand, down 116% from 2024, or -1.17 fils per share, with revenues of KD 3.52 million, down 46% from 2024.

Eng. Hamad Malallah, Chief Executive Officer at UPAC, said: “Our third-quarter performance aligns with projections, with our results affected by the suspension of our contract and operations at Kuwait International Airport. We view this as a transitional period, with our growth strategy centered on the launch of the redeveloped Messilah Beach project. By prioritizing our investments towards elevating the customer experience, we are building a strong foundation for improved financial performance in the coming period."

Malallah added: “We remain committed to identifying and pursuing strategic business opportunities within our industry that drive growth and create value for the company and its shareholders.”

In October, UPAC officially opened the Messilah Beach project, Kuwait’s latest and most comprehensive beachfront destination. The opening ceremony was attended by senior representatives and board members from both UPAC and the Touristic Enterprises Company (TEC), as well as key government officials, most notably in attendance of His Excellency the Governor of Mubarak Al-Kabeer, Sheikh Sabah Bader Sabah Al-Salem Al-Sabah, His Excellency the Undersecretary of the Ministry of Information for Administrative and Financial Affairs, Mr. Salem Al-Watyan in addition to senior executives from Kuwait Investment Authority.

The opening was marked by a vibrant beach-front celebration in the evening, where visitors of all ages enjoyed live music, stage performances, and a variety of family-friendly activities inspired by the sea. Guests explored the different facilities, participated in interactive games and cultural showcases, and experienced a festive atmosphere that captured the spirit of Messilah Beach as a welcoming and lively destination for everyone.

Messilah Beach features a carefully curated lineup of tenants, offering a diverse selection of local and international dining experiences alongside distinctive entertainment operators, including: Frost Gelato, Ananas, Zooba, Chocolmelt, Mr Holmes, Oliver, Good Stuff, amongst others. Visitors can also enjoy Trampo at the Beach, a first-of-its-kind indoor entertainment concept, and Fun Quest, an interactive outdoor games and kids’ play zone.

“Our teams continue to actively work closely with our confirmed operators, to support their on-ground preparations and upcoming tenant openings. We are looking forward to be bringing an exceptional, family-friendly beach destination experience to Kuwait through Messilah Beach, which is set to be a vibrant, year-round destination,” concluded Malallah.

UPAC is a co-investor in Abu Dhabi’s $1.3 billion Reem Mall on Reem Island. Reem Mall is Abu Dhabi’s latest signature shopping, dining, and entertainment family destination spanning an impressive 183.4K sqm GLA. Anchored by a hyper-market and various notable entertainment and home furnishing concepts, the mall will be home to around 400 international and local brands. Snow Abu Dhabi, one of the malls entertainment anchors, is the city’s only snow park. The mall also has one of the largest home furnishing offerings in Abu Dhabi as well as one of the largest Carrefour outlets in the city.

The mall is one of the region's first fully integrated omnichannel retail ecosystems with digital, e-commerce, and logistics capabilities. It brings together all consumer and retail services to ensure a seamless customer experience.

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