Diversified Conglomerates and Holdings in Kurdistan | List

Traditionally, family-owned conglomerates form the back-bone of any emerging economies, especially in the Middle East. Likewise, Kurdistan is rife with―often―family-owned large diversified conglomerates.

The list below provides an overview of the most important diversified conglomerates that are crucial to know when doing business in Iraq’s Kurdistan.

Kurdistan’s specificity is that the conglomerates are geographically separated into conglomerates operating in the KDP electorate (North Kurdistan – Erbil) and the PUK electorate (South Kurdistan – Sulaymaniyah). 

List of Top Diversified Conglomerates and Holdings in Kurdistan

 Salahaddin Holding (Erbil)
One of the largest holdings in Iraq’s Kurdistan. The holding invests in the following sectors: banking sector, investment sector, hotels, construction sector, oil and gas sector, manufacturing plants (BRC, Prefab, Steel, Cement) and oil and gas stations.

Nokan Group (Sulaymaniyah)
Nokan Group is a prominent group of companies for investment and industry in the Kurdistan Region of Iraq hat works in many fields such as internal and external trading, large and small industry, engineering, airlines, tourism, oil, commercial agencies, products distribution, information technology, building construction, industry and agricultural products etc. Construction Companies: Raz Company, Dargazen Company, Twzhala Company, Razga Company, Qubad Company, Shkofa Company, Reko Company, Chiya Company, Eron Company, Halabja Company. Fuel Trade Companies (Distribution): BezhanPet Company, Kormor Company, Wza Company, Mahd Company, Zawi Petroluem Company, Bawan Company. Security Companies: Dahol Company. Car Trade Companies: Carzone Company. Other Companies: Homa Company, Current Company, Kurdistan Company, Saykes Company, Danas Company, Nzar Company, Hezng Company, Duty Free Company, Gazco Company, Azmar Air.
Nokan Group has interests in North Bank, Nozad Jaff (North Bank), Karook Group, Roj City City Star, Kawan, Barez, Nalia, Chavi Gashtiary, Rawanduz, Group Hoshier Company, Meer Soma, Wali Ragi Company, and Saeeb City.

Faruk Group (Sulaymaniyah)
Faruk Group Holding has proudly become a recognized leader in twelve different sectors. As varied as these entities are, all ofthe companies collectively partner to create a solid infrastructure to rebuild Iraq. Every FGH company adheres to the same principles upon which FGH was originally founded in 2008 – integrity, reliability, humanity, democracy and excellence. The company is active in the following fields: telecommunications: Asia Cell, Kurdtel, Gorannet | Industry: BCC and UCC, Azady Enterprices | Medical Services: Faruk Medical Center, IV Solutions | Contracting: Zarya, Plan | IT Services: IraqCom | Hospitality: Shary Jwan Hotel, Beranan Hotel | Real-Estate: Faruk Group Holding Building, Shary Goyzhe Apartment Complex, Beharan Residential Complex | Automotive: Niva

Zagros Group (Erbil)
 Zagros Group is now made up of 12 different companies under the Zagros umbrella. These areas have developed a lot since the company began operating. Today Zagros Group represents one of the three biggest companies in Kurdistan, reaching nearly 1,000 employees. The group is divided into following subsidiaries: Zagros General Contracting, Zagros Energy Group, Zagros Technology, Medical Care International, Zagros AMBS consultancy, Zagros Air, Laveen Air, Zagros Oil, Zagros Trading etc.

Ster Group (Erbil)
Ster Group was founded in Erbil and it has emerged as one of Iraq’s fastest growing conglomerates. The group’s core expertise includes construction, environmental engineering, consultancy, insurance, security, power, communication, general trading, tourism, information technology and research. Ster Group also actively invests in a wide-range of real estate projects. The group’s subsidiaries include: Ster Company, StarKar Insurance Company, TarinNet, Ster Petroleum, Ster Security, Kani Water and SterLogic.

Falcon Group
Falcon Group is a wholly owned and operated Iraqi Corporation. The group is multi-disciplined and includes: Falcon Security, Falcon Construction, Falcon Oil and Gas and Falcon Agriculture. As a professional multifaceted organization, Falcon Group is specifically focused on the reconstruction of Iraq and the maintenance of its critical infrastructure.

KAR Group (Erbil)
KAR Group is a full spectrum oil & gas sector services company working throughout Iraq providing expertise in project design, engineering and construction, plant design and installation, pipeline design, healt, safety and security services.

Qaiwan Group (Sulaymaniyah)
A diversified conglomerate based in Sulaymaniyah with activities in construction (Qaiwan Towers, Qaiwan City, Sulaymaniyah Heights), energy (Baziyan Refinery, Petrol Stations, Oil Trading), retail and hospitality (Rotana Hotel Sulaymaniyah, Qaiwan Hotel).

UB holding
The holding’s turnover was $1.2 billion in 2009 and it increased in 2010 to approximately $1.5 billion. UB Holding is involved in the upstream, midstream and downstream sectors. The holding currently represents one of the leading private sector companies in Iraq. 

Mass Group
Mass Group Holding Ltd (MGH) produces electrical energy, cement, steel, and fertilizers, along with other basic industrial products and services.Their focus is on electricity generation, cement, steel and iron and urea.

Zozik Group
Zozik group is present in the following sectors: agriculture, air & cargo, communication, construction, finance, health care, security & logistics, transportation.

Darin Group
Darin Group is an Iraqi holding group founded in 1998 and launched to support the three main industries: construction, internal project management and general trading.

Group Rekan
Group Rekan for reconstruction and investment is a group of leading companies in the field of investment and construction, telecommunications and infrastructure, and commercial agencies.