According to Al-Rai Al-Aam newspaper (June 8, 2005), Omran Habib Hayat, Managing Director of Kuwait's United Real Estate Company, a publicly listed company with a focus on commercial, retail and hotel development in the Kuwait region, rejected the rumors about the company's intention to abandon the Al-Abdali storehouses project.
The director asserted that the United Real Estate Company is determined to soon establish the new company in charge of building the Al-Abdali storehouses project in cooperation with Kuwait's Public Warehousing Co. (PWC). The manger related the delay in establishing the new company to governmental bureaucratic procedures. He said that a new company's establishment procedures take more than 2 months in Kuwait compared with one day in the rest of the world.
