The Public Utilities Management Company (PUMC) is one of the few government companies that has maintained net profits over the past 15 years and distributed 100% cash dividends to Kuwait Investment Authority (KIA).
The Annual General Assembly (AGM) of the Public Facilities Management Company was held in March 2021 and approved profit distributions for FY2020. The Company’s net operating profit stood at KWD 7.197 million in 2020, while net profit amounted to KWD 5.608 million.
The Public Facilities Management Company has undergone radical transformation and started on the right path since the new board of directors took over, chaired by Dr. Mohammed Abdullah Al-Abduljader, and since the appointment of the new CEO, Saleh Yousef Al-Othman, as the new board started to lead a comprehensive developmental idea and provide modern services to the public.
The utilities company is actively working on automating its entire executive body as part of the country’s digital transformation efforts to facilitate business. The company developed a digital transformation roadmap as it intends to automate all car parking facilities.
Public Utilities Management Company "Kuwaiti Shareholding Closed Company" is one of the government corporate subsidiaries and is wholly owned by Kuwait Investment Authority. The Company was founded in 1982, to diversify the internal investment in the State of Kuwait through leveraging some land plots and state assets, in order to diversify the national income, and to participate in the country's internal development.
The company is specialized in the management, maintenance, and operation of a number of service buildings, commercial complexes, residential cities, multi-storey car parking lots, and historical squares, after the necessary developments were made for these areas to keep pace with the urban and economic development of the country.
Informed sources told Al-Anba Newspaper that the company has not modified its payroll since 1999, noting that the company is a successful model for government companies.
They added that PUMC is a public service company that provide car parking services and provide decent labor housing services. The company always strives to satisfy its customers through enhancing its services. The company has worked to develop its facilities and improved their appearance.
One of the company’s most important achievements during 2020  is that it continued its operational work, despite the difficulties related to the “COVID-19” pandemic, and managed to increase the occupancy rate of Al-Shaddiyah Labour City from 48% in 2019 to 90% in 2020. Moreover, the company carried on the maintenance of the Gold Market building improving the services provided to its occupants and visitors. Moreover, the Ministry of Trade and Industry launched the Precious Metals Department, in addition to completing a study to assess the storage facilities industry, as well as working on introducing some improvements and smart programs for parking and studying their construction status, to prepare for their maintenance and work on their sustainability.
The company also successfully rectified about 50% of the observations cited by the State Audit Bureau (SAB) observations during the “COVID-19” period, an achievement that is credited to the company and its executives.