ALARGAN International Real Estate Company was established in 1994 as a family owned contracting company in Kuwait focused on the construction of middle income homes. The Company steadily grew into a residential developer while offering other real estate services.
ALARGAN became a joint stock company in 2002 and established development subsidiaries with strategic partners in Oman (2002), Bahrain (2003) and Saudi Arabia (2006). The Company was listed in the Kuwait Stock Exchange in 2007.
ALARGAN also pursued a vertical integration in real estate services through the establishment of hospitality, architecture, project management, contracting, property management, brokerage and landscaping subsidiaries.
ALARGAN has a strong track record in successful development of quality middle income and affordable housing projects across the GCC in addition to mixed use developments and income generating properties. The Company has currently around US$ 2.4 billion of projects under management and around US$ 170 million of assets under management throughout the GCC.
Since inception in 1994, ALARGAN was able to record profits on a yearly basis and has achieved profitable returns every quarter since it was listed in 2007. The Company was also able to record a weighted average IRR in excess of 15% for all the projects it has completed.