Kuwait Top Holding Companies and Kuwait Top Diversified Conglomerates

According to Capital Standards,”Kuwait has the largest number of holding companies listed on the local stock exchange amongst the GCC stock exchanges. This can be mainly attributed to the size of the KSE (largest in terms of listed companies) and the prominence of the investment activities in Kuwait. At the end of October 2011, the number of Kuwaiti holding companies increased to 40, in comparison to 38 listed companies at the end of September 2009.”

The majority of Kuwaiti companies is owned or co-owned by the 31 most powerful Kuwaiti families such as ( Sabah (rulers), Kharafi, Al-Ghanim, Bukhanseen, Behbehani, Al-Mulla, Al-Shaya, Al-Mutawa, Al-Khazemi, Sultan, Al-Wazzan, Al-Roumi, Al-Zahem, Al-Sagar, Al-Khalid, Al-Khaled, Al-Hamad, Othman, Boodai, Marzouq, Al-Nafisi, Al-Rashed, Al-Nafisi. According to Arabian Business “GCC families hold on average between 19% and 30% of company board seats,” said TNI in its report. The companies in Kuwait are often tied up in a convoluted ownership schemes.  

Top Investment Holding Companies & Family Owned Conglomerates in Kuwait

Kuwait Investment Authority (KIA)
Bader Al Saad | Managing Director 
The Kuwait Investment Authority (KIA) is an autonomous government body responsible for the management and administration of the Genebural Reserve Fund (GRF), and the assets of the Future Generations Fund (FGF), as well as any other funds entrusted to it by the Minister of Finance for and on behalf of the State of Kuwait. KIA invests in the Local, Arab and International Markets with its main office located in Kuwait City and a branch office in London, UK. KIA is by far the largest company by assets. Kuwait transfers 10% of oil revenue into the Reserve for Future Generations each year, which is the overall responsibility KIA in Kuwait, the parent organization of the Kuwait Investment Office.
Investments: (23% Victoria-Jungfrau Collection AG, 16% Gulf Bank, 12% Arab Insurance Group, 9% Jordan Phosphate Mines, 5% Daimler AG, 6% Citigroup, 1.7% British Petrol, KFH, Zain)
Assets: USD 300 billion (2010)

Kuwait Projects (KIPCO)
Faisal Hamad Al Ayyar | Vice Chairman 
KIPCO is one of the largest investment holding companies in the region. The majority stake in KIPCO is held by Kuwait’s ruling family. KIPCO has investments in more than 60 companies. Among them: Burgan Bank, United Real Estate Company, KAMCO and Gulf Insurance Company.
Assets: USD 20 billion (2010)

M.A. Kharafi & Sons
Bader Kharafi | Chairman
With an annual turnover exceeding US$5 Billion the M.A. Kharafi Group operates in more than 25 countries around the world and has more than 120,000 employees. Stakes: the group owns a 12.7-20 percent stake in Zain, Kharafi National, National Investment Co., National Industries Group, Kuwait Food Co. The group’s interests span from real estate, retail to financial services, but these were hit hard by the financial crisis and it has direct and indirect liabilities likely to total at least $5 billion.
Assets: Estimate USD 15-25 billion

National Industries Company
Sa,ad Mohammad Al-Sa’ad | Chairman
National Industries Group Holding (NIG) is one of the largest listed investment holding companies in Kuwait. It was established in 1984. Today, NIG manages several and manifold activities in investment and shares, in Building Materials, Petrochemicals, Oil & Gas Services, Mechanical Industries, Utilities, Real estate Infrastructure, and Financial Services. Major shareholders include MA Kharafi and Sons Company.
Assets: USD 5,7 billion (2010)

Al Ghanim Industries
Omar Al Ghanim | Chairman
Alghanim Industries is one of the largest privately-owned companies in the Gulf region, predominantly in Kuwait. A multinational company in outlook with operations in 40 countries, Alghanim Industries is a multi-billion dollar conglomerate with more than 30 businesses. Stakes: Gulf Bank etc.
Assets: Estimate USD 5-10 billion

The Bukhamseen Group of Companies
Jawad Ahmed Bukhamseen | Chairman
Bukhamseen hasdiversified further into hospitality,manufacturing, banking and insurance. It ownes stakes in more than 30 companies. Bukhamseen Group is the most diversified holding in Kuwait. Companies: Kuwait International Bank, Arab Investment Company, Warba Insurance Company.
Assets: Estimate USD 7,25 billion

Al-Bahar Group of Companies
Sa,ad Mohammad Al-Sa’ad | Chairman
Al-Bahar Group of Companies is one of the largest and most successful business concerns in the state of Kuwait, owned by Mr. Mohamed Abdulrahman Al-Bahar, a well known and reputable Kuwaiti businessman. Mr. Mohamed Abdulrahman Al-Bahar is the Chairman of the Al-Bahar Group, as well as the chairman of the National Bank of Kuwait, Kuwait’s leading Bank. Al-Bahar Group owns International Financial Advisors.
Assets: Rough Estimate USD 4 billion

Sultan Family
Tareq Sultan | Chairman
Sultan family ownes significant stakes at Sultan Center (Kuwait’s largest independent retailer) and Agility Logistics (Largest Logistics company in Kuwait).

Mezzan Holding
Khalid Jasim Alwazzan | Chairman
Founded in 1999, Mezzan Holding Company is considered to be one of the largest diversified conglomerates in the Middle East. Together with its affiliated companies, Mezzan Holding Company has been a market leader in providing quality agriculture and consumer manufacturing, distribution, and recycling services for over half a century.
Assets: Rough Estimate USD 1-2 billion

M.H. Alshaya
Mohammed Alshaya | Chairman
Alshaya currently manages over 55 international brands and owns and operates over 2,200 outlets in 19 countries across the Middle East and North Africa, Russia, Turkey and Europe, employing approximately 28,000 people.
Assets: Rough Estimate USD 5 billion

Action Group Holdings
Souad M. Al-Sabah | Chairperson
Action Group Holdings (K.S.C.C.) (AGH) is a leading private Kuwait-based holding company established in 1998. With financial interests in both private and public companies, the Group also invests significantly in alternative investments such as real estate and private equity.The group holds stakes in Global Investment House, INVESTCORP, Housing Finance Company etc.
Assets: Rough Estimate USD 2-5 billion

Fouad Alghanim & Sons Group
Fouad M.T. Alghanim | Charman
Fouad Alghanim & Sons Group is a group of around 46 companies, established since 1960, and have been engaged in an increasing number of diverse commercial enterprises which include direct representation of multi-national commercial contractors and manufactures, Automotive, Civil construction and contracting, Installation and maintenance of all forms of Mechanical, Electrical and Electronic equipments, Investment, Aviation, hotel ownership, Telecommunications engineering and management, Real estate developments, industrial production and general contracting on both the local and international arenas.
Assets: Rough Estimate USD 1-3 billion

Efad Holding
Waleed Al Humaidhi | Deputy Chairman
The holding is a consoidation of the Humaidhi and Al Roumi’s family holdings. Subsidiaries: Adeem Investment Co. Investment Dar, Efad Trading.
Assets: Rough Estimate USD 1-2 billion

Al Mulla Group
Anwar A. Al Mulla | Deputy Chairman
Al Mulla Group is one of the largest privately owned businesses in Kuwait and the Gulf region. With over 10,000 employees, over 30 different Group companies and subsidiaries, operating in 8 different countries and affiliations with over 200 international brands.
Assets: Rough Estimate USD 1-2 billion

A.H. Al Sagar & Bros 
Abdulaziz Hamad Alsagar | Chairman
A.H. Al-Sagar participates in Oil & Gas Projects, equipment sales, tenders, inquiries and has excellent relations with the oil sector. Our company is appeared by all government and industrial authorities and with our excellent performance and proven track record, we are usually invited to bid for most supply projects fir the Oil & Gas sector in Kuwait.

Al Zahem Group
Faisal Al Zahem | Chairman
AL ZAHEM INTERNATIONAL GROUP is an ISO 9001-2008 certified company, established in 1991 to provide the Oil, Energy & Industrial Sectors in Kuwait with Specialty Products and Services.

Marafie Group
With generations of experience in seafaring trade, the Marafies, a name synonymous with integrity honesty, loyalty and prestige progressively streamlined their family business activities. In 1919 Mohammad Rafie Husain Marafie the third generation member of the Marafie family founded Mohammad Rafie Husain Marafie Company which served as the foundation for the present day Marafie Group. His vision and farsightedness had inspired the transforming of earlier trading activities into an organized business.

Boodai Group
Boodai Trading Company, the oldest company in Boodai Corporation, was established in the mid 1950’s, initially to supply essential tools and other equipment to the nascent and burgeoning Kuwait oil exploration industry.

Rashdan Group
Rashdan Group established in 1962, Mr. Marzooq Al Rashdan was the Deputy General Manager back then, Rashdan Group had businesses in real estate, and building materials.

Al-Sayer Group
The Al-Sayer Group is one of the major trading companies in Kuwait. We maintain a high reputation both in Kuwait and overseas. The Al-Sayer reputation as a leading business has been built up since 1954 when the company was first established to engage in general trading and car imports. Since then the company has been expanding and diversifying. The Group now has a wide range of exciting activities and companies.

Behbehani group
Ali Morad Behbehani | President
One of the major Kuwaiti groups involved in many business ventures and areas.

Al-Rashed Group for Projects Holding Co.
Al-Rashed Group for Projects Holding Company is one of Kuwait’s leading family owned Groups. Through it’s subsidiary companies Al-Rashed Holdings has a number of strategic divisions focusing on: Major Oil, Gas, Utilities Power and Infrastructure Projects; Building Materials, Oil Sector Services, Equipment Supply, and Logistics as well as number of smaller specialist business units. Through its operating divisions Al-Rashed Holdings has built an outstanding reputation in these key markets working with its partner international companies in the State of Kuwait and the wider Gulf Region.