United Projects for Air Services Company (UPAC) achieved a 35.7% increase in revenue in the second quarter of the year compared to the same period in the previous year, mainly due to the recovery of services related to airports and parking following the gradual opening of Kuwait International Airport, where the volumes of flights and passengers grew Since the easing of measures related to COVID-19, UPAC expects a gradual increase in air traffic in 2022 and beyond.
UPAC is also a co-investor in the Reem Mall project on Reem Island in Abu Dhabi. The construction work on the project is nearing completion. It is expected that retail, leisure and entertainment stores will open inside the mall during 2022, noting that the main tenant Carrefour hypermarket has opened in Reem Mall recently.
As for Global Clearinghouse Systems, which specializes in digitizing customs operations, it achieved a growth in revenues for the second quarter of 2022 by 10.5% compared to the same period in the previous year, driven by the increase in the volume of trade exchange and the initiatives implemented by the company to stimulate its growth, and the company continues to explore opportunities that It can help her increase her future growth and diversify her sources of income.
investment sector
Agility owns non-controlling interests in a range of listed and unlisted entities. The book value of these investments is 1.4 billion Kuwaiti dinars. Agility’s stake in DSV represents the largest of these investments. Agility invests in a group of other companies spanning across a number of sectors such as shipping, real estate and trade enablement. e-Technologies, Environmental, Social Responsibility, Corporate Governance and Supply Chain Technologies.
