NREC develops and manages residential, commercial, industrial, retail, and mixed-use real-estate assets across MENA for shareholders, partners, businesses, residents, shoppers, and communities. Its model combines development, investment, asset management, and ownership of regional real-estate and infrastructure platforms for regional markets.
AI-researched delivery record, not yet confirmed by the developer. Dates may be approximate; original sources are linked.
AI-researched delivery record, not yet confirmed by the developer. Dates may be approximate; original sources are linked.
Agility partnered with UPAC and NREC through Al Farwaniya Property Developments to develop Reem Mall in Abu Dhabi.
UPAC partnered with Agility and NREC through Al Farwaniya Property Developments to develop Reem Mall in Abu Dhabi.
The development company is the partnership vehicle for Agility, UPAC, and NREC on Reem Mall.
ADCB was one of the regional and international banks providing the Reem Mall senior credit facility.
Gulf Bank Kuwait was one of the banks providing the Reem Mall senior credit facility.
Noor Bank was one of the banks providing the Reem Mall senior credit facility.
Standard Chartered Bank was one of the banks providing the Reem Mall senior credit facility.
This UAE-Italy joint venture was appointed lead contractor for the Reem Mall project.
The project is being developed by Al Farwaniya Property Developments, a partnership between Agility, Agility affiliate United Projects for Aviation Services Company (UPAC), and National Real Estate Company (NREC).
The project is being developed by Al Farwaniya Property Developments, a partnership between Agility, Agility affiliate United Projects for Aviation Services Company (UPAC), and National Real Estate Company (NREC).
The project is being developed by Al Farwaniya Property Developments, a partnership between Agility, Agility affiliate United Projects for Aviation Services Company (UPAC), and National Real Estate Company (NREC).
The seven-year credit facility is provided by regional and international banks: Abu Dhabi Commercial Bank (ADCB), Gulf Bank Kuwait, Noor Bank, and Standard Chartered Bank.
The group backing Reem Mall announced on 21 November that it had signed a $457 million senior credit facility to complete financing on the project.
The seven-year credit facility is provided by regional and international banks: Abu Dhabi Commercial Bank (ADCB), Gulf Bank Kuwait, Noor Bank, and Standard Chartered Bank.
The seven-year credit facility is provided by regional and international banks: Abu Dhabi Commercial Bank (ADCB), Gulf Bank Kuwait, Noor Bank, and Standard Chartered Bank.
The consortium today announced the appointment of Itinera Ghantoot, a UAE-Italy joint venture, as lead contractor on the $1.2 billion shopping, leisure and entertainment project.
| none found |
| Kuwait | active 0 projects tracked |
| United Arab Emirates | active 0 projects tracked |
| Egypt | active 0 projects tracked |
| Jordan | active 0 projects tracked |
| Pakistan | active 0 projects tracked |
| Tunisia | active 0 projects tracked |
| no project types recorded |
To build a company you have to really focus on delivering value to your customer.The Business Year Jul. 07, 2015https://thebusinessyear.com/interview/well-handle-it/
He holds an MBA from the Wharton School of the University of Pennsylvania
He holds an MBA from the Wharton School of the University of Pennsylvania
and a Bachelor’s degree from the American University of Beirut.
and a Bachelor’s degree from the American University of Beirut.
Hassan Bassam Al-HouryIndependent Chairman of the Board
Mr. El-Houry currently works at National Real Estate Co., as Chairman from 2017, Menzies Aviation Ltd., as Chairman, Royal Aviation Co. Kuwait, as Chairman
Mr. El-Houry currently works at National Real Estate Co., as Chairman from 2017, Menzies Aviation Ltd., as Chairman, Royal Aviation Co. Kuwait, as Chairman
Hassan El-Houry is the CEO of National Aviation Services (NAS)
After Agility’s acquisition of United Projects Company (UPAC) in 2012, he was appointed Chairman of UPAC
he was appointed Chairman of UPAC and its subsidiary Royal Aviation
Jul. 07, 2015
The Business Year
Aviation plays a crucial role in the economy, and there are two sides to what we do
Hassan El-Houry is the CEO of National Aviation Services (NAS), a leading provider of quality airport and aviation services in the Middle East, Indian Subcontinent, and Africa. El-Houry transformed NAS from a local ground handling company into a leading regional airport and aviation services provider. After Agility’s acquisition of United Projects Company (UPAC) in 2012, he was appointed Chairman of UPAC and its subsidiary Royal Aviation, which owns the Sheikh Saad Terminal in Kuwait. In 2014, El-Houry was honored by the World Economic Forum in Davos as a Young Global Leader for his contributions to aviation and airport services. He holds an MBA from the Wharton School of the University of Pennsylvania and a Bachelor’s degree from the American University of Beirut.
Hassan Bassam Al-HouryIndependent Chairman of the Board
Our FY 2024 results reflect a continued growth trend, driven by strong operational strategies and flexible risk management.ZAWYA 2024https://www.zawya.com/en/press-release/companies-news/nrec-announces-a-net-profit-of-kd-93mln-for-the-year-ended-december-31-2024-m4hio8ow
We remain focused on protecting shareholder value through disciplined risk management frameworks to navigate evolving geopolitical and economic uncertainties, while actively pursuing selective investments and optimizing our portfolio.ZAWYA FY2025https://www.zawya.com/en/press-release/companies-news/nrec-reports-fy2025-loss-of-kd-72.4-million-driven-by-one-time-non-cash-adjustments-351373
Faisal holds a degree in Management from Barry University, USA.
Faisal holds a degree in Management from Barry University, USA.
Faisal Jamil Sultan Al-EssaChief Executive Officer, Executive Vice Chairman of the Board
Faisal is the Chairman of Kuwait Agro Holding
Faisal is a Board Member of ADX-listed Agility.
He is also Chairman of the Board of Directors of Makhazen
for the year ended December 31, 2024
NREC Vice Chairman and Chief Executive Officer, Faisal Jamil Sultan Al-Essa, said
Commenting on the Company’s results, NREC Vice Chairman and Chief Executive Officer, Faisal Jamil Sultan Al-Essa, said: “Our FY 2024 results reflect a continued growth trend, driven by strong operational strategies and flexible risk management.”
NREC reports FY2025 loss of KD 72.4 Million driven by one-time non-cash adjustments
NREC reports FY2025 loss of KD 72.4 Million driven by one-time non-cash adjustments
We remain focused on protecting shareholder value through disciplined risk management frameworks to navigate evolving geopolitical and economic uncertainties, while actively pursuing selective investments and optimizing our portfolio
Al-Essa assumed his current role in 2018.
As Vice Chairman and Chief Executive Officer of National Real Estate Company K.P.S.C. (NREC), he oversees one of the Middle East’s leading publicly traded real estate firms, managing over $2 billion in assets and operating across more than ten countries. Prior to his current role, Faisal played a key role in NREC’s business development, driving growth initiatives and leading strategic investments. In addition to his role at NREC, Faisal is the Chairman of Kuwait Agro Holding, a leading agribusiness company specializing in fresh produce, poultry, and dairy across the Middle East. Faisal is a Board Member of ADX-listed Agility. He is also Chairman of the Board of Directors of Makhazen
Faisal Jamil Sultan Al-EssaChief Executive Officer, Executive Vice Chairman of the Board
Tarek Abdul-Aziz Sultan Al-EssaNon-Executive Director
Current board roles include Agility Global, DSV A/S, NREC, Gulf Air, and the Abu Dhabi Chamber of Commerce.
Current board roles include Agility Global, DSV A/S, NREC, Gulf Air, and the Abu Dhabi Chamber of Commerce.
Current board roles include Agility Global, DSV A/S, NREC, Gulf Air, and the Abu Dhabi Chamber of Commerce.
Current board roles include Agility Global, DSV A/S, NREC, Gulf Air, and the Abu Dhabi Chamber of Commerce.
Current board roles include Agility Global, DSV A/S, NREC, Gulf Air, and the Abu Dhabi Chamber of Commerce
Current board roles include Agility Global, DSV A/S, NREC, Gulf Air, and the Abu Dhabi Chamber of Commerce
Spearheaded Agility’s transformation into a diversified, multi-business owner, operator, and long-term investor with operations spanning six continents, leading more than 40 strategic acquisitions. Serves on multiple international, governmental, and commercial boards and advisory bodies. Current board roles include Agility Global, DSV A/S, NREC, Gulf Air, and the Abu Dhabi Chamber of Commerce.
Current board roles include Agility Global, DSV A/S, NREC, Gulf Air, and the Abu Dhabi Chamber of Commerce.
leading more than 40 strategic acquisitions.
Tarek Abdul-Aziz Sultan Al-EssaNon-Executive Director
Mr. Al-Jeaan holds a Bachelor’s degree in Economics (with honors) from Harvard University in the US
Mr. Al-Jeaan holds a Bachelor’s degree in Economics (with honors) from Harvard University in the US
and a Bachelor's degree in Law (with honors) from Oxford University in the UK
and a Bachelor's degree in Law (with honors) from Oxford University in the UK, and a Master’s degree (with honors) in Law from Oxford University.
a Master’s degree (with honors) in Law from Oxford University
a Master’s degree (with honors) in Law from Oxford University
Bader Abdulmohsen El JeaanNon-Executive Director
Mr. Al-Jeaan is currently on the Board of Directors of a number of entities, including the Kuwait Investment Authority
He is a Trustee of the Northfield Mount Hermon School
Mr. Bader Abdulmohsen Al-Jeaan has over 24 years of experience in legal, financial, and banking consultancy. Mr. Al-Jeaan is the founder and senior partner of Meysan Partners, a leading corporate law firm in Kuwait.
Bader Abdulmohsen El JeaanNon-Executive Director
Christopher holds a Bachelor’s degree in Civil Engineering from the University of Maine
Christopher holds a Bachelor’s degree in Civil Engineering from the University of Maine
and a Master’s in Civil Engineering from MIT.
and a Master’s in Civil Engineering from MIT.
Christopher Michael GordonIndependent Director
Christopher serves as a Board Member of NREC and is Chairman of the Board of Fryeburg Academy
Prior to joining Wynn Resorts
Christopher was President of the Dirigo Group
He previously served as Chief Operating Officer for the Allston Development Group
and Director of Capital Programs and Logan Modernization for the Massachusetts Port Authority
He is the President of Wynn Development for Wynn Resorts, overseeing major real estate and hospitality projects. Prior to joining Wynn Resorts, Christopher was President of the Dirigo Group. He previously served as Chief Operating Officer for the Allston Development Group, Harvard University’s real estate development arm, and Director of Capital Programs and Logan Modernization for the Massachusetts Port Authority
Christopher Michael GordonIndependent Director
Mohammad Hamad Abdulaziz Al Mutawa
Mr Mohammad Hamad Abdulaziz Al Mutawa is The Deputy Chairman of Dar Al Dhabi Holding
and Deputy Chairman of Bayan Investment.
He is Board Member at United...
Mr Mohammad Hamad Abdulaziz Al Mutawa is The Deputy Chairman of Dar Al Dhabi Holding and Deputy Chairman of Bayan Investment. He is Board Member at United...
شركة أجيليتي إنفستمنت هولدنج ليميتد، ممثلة بمحمد حمد عبدالعزيز المطوع (غير تنفيذي)
No qualifying completions found in this window.
1 undated completions and 0 boundary-uncertain completions are retained but excluded from figures.
| Project | Location | Type | Units | Floors | Area | Cost | Payment plan | Launched | Construction start | Original target | Handover | Delay | Confidence | Status |
|---|
| Auditor | RSM Albazie & Co |
| Coverage | active |
| Tracked since | October 12, 2026 |
| Last checked | October 12, 2026 this month |
| Profile last researched | October 12, 2026 |
| Claim |