In a strategic move that reinforces its role as a key player in Kuwait's asset and facilities management sector and opens new horizons for enhancing operational efficiency and investment returns, United Facilities Management Company (UFM) has signed a new agreement with Boubyan Takaful Insurance Company.

Under the agreement, UFM will manage, operate, and market one of Boubyan’s real estate assets. This partnership combines the expertise of both parties and launches a new phase of highly efficient operational solutions, boosting the competitiveness of institutional real estate assets and setting a more professional standard in asset management.

In a press release, UFM stated that the property under the agreement is located in the Qibla area and is considered a prime real estate asset due to its mixed-use nature, including administrative offices and commercial spaces. The asset adds operational value to UFM’s portfolio, which is managed according to top international facility management standards.

The agreement was signed on Monday, August 4, in the presence of senior executives from both companies. UFM will provide a comprehensive package of management and operation services in line with the best international practices in facilities management.

On the occasion, Ibrahim Abdul Latif, Acting CEO of UFM, expressed pride in the collaboration with Boubyan Takaful Insurance, considering the partnership a strategic step that enhances UFM’s standing in the asset and facility management market.

He stated that this cooperation reflects the company's commitment to delivering high-quality services that meet the highest global standards in operations and management.

Abdul Latif added that the aim of the partnership is to provide innovative solutions driven by technology and operational efficiency, with a focus on preserving property value and maximizing investment returns.

He emphasized the company’s dedication to creating a comfortable and safe environment for tenants and clients, enhancing satisfaction, and ensuring a sustainable relationship between all stakeholders.

He also noted that this agreement aligns with UFM’s ambitious strategy to expand its client base and provide integrated solutions and services that meet the evolving needs of various real estate sectors in Kuwait, in line with both local and regional market developments.

Meanwhile, Ibrahim Al-Khuzam, CEO of Boubyan Takaful Insurance, stated that selecting United Facilities Management was based on its extensive experience in managing and operating diverse properties.

He added that UFM’s continuous commitment to applying top global standards in operational management was the key factor that strengthened Boubyan’s confidence in signing this strategic partnership.

Al-Khuzam noted that Boubyan Takaful is looking forward to a successful and long-term collaboration with UFM, aiming to develop and enhance the level of real estate and operational services provided to clients.

He confirmed that the cooperation will help deliver comprehensive solutions that align with real estate market developments and meet the needs of both tenants and investors, thereby strengthening the positions of both companies in the facilities management and Takaful insurance sectors.