Principal Activities
Real estate property investment, development and management; ownership and operation of hotels, resorts and shopping malls; provides real estate business consulting and landscaping services; civil and electromechanical contracting for residential and commercial buildings; construction of swimming pools; organizes real estate exhibitions and auctions; provides asset management services including fund management; trading in building materials.
Date of Establishment Year
2002 (March)
No of Employees
59 Company, 500 Group (As of May 04, 2011)
|
Acquistion
Status
Complete
Acquirer
Target
Announcement Date
28 Sep 2010
Closing Date
28 Sep 2010
|
ALARGAN International Real Estate Company (ALARGAN) is a Kuwaiti real estate developer that started out with a focus on suburban and multi unit residential projects. Some of ALARGAN's projects in Kuwait include the Al Bida Residential Project, Jabriya Residential Complex, Sheikha Complex and Fintass Residential Complex. ALARGAN has expanded across the region through a series of projects in Kuwait, Lebanon, Oman and Bahrain with a total investment of USD90 million (as of 2006) with an initial focus targeting middle class individuals. ALARGAN has since expanded its portfolio into both the commercial and residential projects. With USD2.4 billion of total assets under management as of March 2010, ALARGAN underwent an IPO on the Kuwaiti Stock ExchangeKuwaiti Stock Exchange in July 2007.
Direct Investments and Related Entities  |
| Subsidiaries/Associates/Affiliates |
|
|
|
|
| ALARGAN Holding Company |
Kuwait |
100.00% |
| ALARGAN International Real Estate Limited Company |
United Kingdom |
100.00% |
| ALARGAN Landscaping Company |
Kuwait |
100.00% |
| ALARGAN National Contracting Company [via ALARGAN National General Trading and Contracting Company] |
Bahrain |
100.00% |
| ALARGAN National General Trading and Contracting Company |
Kuwait |
100.00% |
| ALARGAN Real Estate Investment Company |
Egypt |
100.00% |
| ALARGAN for Heavy Equipments Company [via ALARGAN National General Trading and Contracting Company] |
Kuwait |
100.00% |
| ALARGAN for Swimming Pools Company [via ALARGAN National General Trading and Contracting Company] |
Kuwait |
100.00% |
| ARGANA for Resorts and Hotels Company |
Kuwait |
100.00% |
| Al Jood Holding Company |
Bahrain |
100.00% |
| Shams Al Foz Real Estate Company |
Bahrain |
100.00% |
| ALARGAN Bahrain Company |
Bahrain |
50.00% |
| ALARGAN Gulf Real Estate Services Company |
Kuwait |
50.00% |
| ALARGAN Real Estate Project Management Company |
Kuwait |
50.00% |
| ALARGAN TOWELL Investment Company |
Oman |
50.00% |
| Alargan Homes Company |
Saudi Arabia |
48.34% |
| Alargan Projects Company |
Saudi Arabia |
48.34% |
| Sorouh Al Qurom Bahrain Company |
Bahrain |
28.48% |
| ARGAN TOWELL National Trading and Contracting Company |
Oman |
25.00% |
| Barka CIty Real Estate Company |
Oman |
25.00% |
| Saar Gate Real Estate Company |
Bahrain |
20.00% |
| Hilaliya Chalet Resort |
Kuwait |
- |
| Movenpick Bidaa Hotel |
Kuwait |
- |
| Rimal Hotel and Resort |
Kuwait |
- |
|
| Investments |
|
|
|
|
| Real Estate Finance Facilities Company |
Kuwait |
10.29% |
| Delmon Residence Company |
Bahrain |
10.00% |
| Saji Real Estate Company |
Kuwait |
10.00% |
|
| Developments and Projects |
|
|
|
|
| ARGAN Business Park |
Kuwait |
- |
| Al Murjanah - Dammam [via ALARGAN Projects Company] |
Kuwait |
- |
| Al Sohoul - Jubail [via ALARGAN Projects Company] |
Saudi Arabia |
- |
| Green Oasis [via ALARGAN Projects Company] |
Saudi Arabia |
- |
| Jeyoun [via ALARGAN Bahrain Company] |
Bahrain |
- |
| Masaken Al Yasmeen [via ALARGAN Bahrain Company] |
Bahrain |
- |
|
Auditors
| RSM Albazie and Company |
Al Waha Auditing Office Ali Owaid Al Rukhaeyes |
Banks
| Al Ahli Bank of Kuwait |
Kuwait Finance House |
| National Bank of Kuwait (International) |
|
Law Firms
| Hamad Al Moulah |
Libra Law Firm |
| Financial Results |
31-Dec-09 |
31-Dec-10 |
Yr on Yr |
| |
KWD'000 |
KWD'000 |
change (%) |
Total revenues  |
14,119
|
11,590
|
(17.91) |
| Net profit |
3,363
|
3,983
|
18.45 |
| Total assets |
101,647
|
106,750
|
5.02 |
| Paid-up capital |
26,500
|
26,500
|
0.00 |
| Shareholders' Equity |
58,505
|
61,717
|
5.49 |
| Shares outstanding |
256,270
|
256,270
|
0.00 |
| Market capitalization |
51,254
|
53,304
|
4.00 |
| Note: Current shares outstanding is 265,000,000 |
| » View Full Financials |
|
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