Kuwait Projects Company (Kipco), the country's biggest investment firm, said it has raised its stake in United Real Estate Company (URC) to 60.4 per cent.

'The firm (Kipco) states that it acquired 33.11 per cent in URC through one of its portfolios and therefore raise Kipco's stake to 60.4 per cent turning URC to a subsidiary,' the company said in a statement on the country's bourse website on Tuesday.-Reuters