ALARGAN HQ is Kuwait's first LEED Platinum certified project

16/03/2014 15:36 AST

The Head Quarters of ALARGAN International Real Estate Company in the waterfront Argan Business Park in Shuwaikh Free Trade Zone, has been awarded LEED(r) Platinum certification for Commercial Interiors, marking the first such certification for any project in Kuwait. The LEED (Leadership in Energy and Environmental Design) rating system, developed by the US Green Building Council (USGBC), is the foremost program for buildings, homes and communities that are designed, constructed, maintained and operated for improved environmental and human health performance. The ALARGAN International Head Quarters building achieved points for Platinum level, the highest rating, for implementing practical and measurable strategies and solutions aimed at achieving high performance in sustainable site development, water savings, energy efficiency, materials selection and indoor environmental quality.

"The LEED Platinum certification is a strong endorsement on our commitment to the highest standards of environmental sustainability and our commitment to strengthen energy efficiency in our headquarters building," said Eng. Khaled K. Al-Mashaan, Chairman & MD of ALARGAN International Real Estate Company. "Being the first company to achieve the certification in Kuwait underlines our believed leadership in developing sustainable projects that serve as industry benchmarks. Incorporating the highest standards in sustainable design also highlights our commitment to future generations by creating truly world-class environments that are in harmony with nature and add to the quality of life of the people," he added.

Among the features of the new building that assist in increased energy use efficiency and all-round environmental sustainability include: High-performance glazing to manage exterior heat, energy-efficient lighting and air conditioning systems, energy-savings through lighting control using motion detectors and daylight sensing technology, water-use reduction through installation of low flow fixtures, a scientific waste management plan, and use of reused, recycled, regional, natural materials in finishes and furniture. The building has been smartly designed to ensure that nearly 75 per cent of the commonly occupied spaces receive abundant daylight, in addition to thermal comfort and control. Further, the use of low-emitting adhesives, paints, coatings, carpets and furniture improve indoor air quality. Featuring innovative design concepts through Green Power purchase and Green Educational Outreach program, the building uses ergonomic furniture for occupant comfort, and offers excellent views of the seafront. Lush green landscapes and water features add to the aesthetics.

"ALARGAN International Head Quarters' LEED certification demonstrates tremendous green building leadership," said Rick Fedrizzi, President, CEO & Founding Chair, US Green Building Council. "The urgency of USGBC's mission has challenged the industry to move faster and reach further than ever before, and ALARGAN International Head Quarters serve as a prime example with just how much we can accomplish." ALARGAN International Real Estate Company initially started as a family owned contracting company in 1994 specializing in the construction of residential projects. Today, the company has successfully grown - to become one of the leading residential developers in the GCC, offering a wide array of real estate services. In 2002, ALARGAN became a closed Kuwaiti shareholding company.

It was clear that regional expansion was necessary to maximize the growth potential of the company, which led to the establishment of strategic partnerships in Oman in 2003, Bahrain in 2005 and Saudi Arabia in 2006. In 2007, ALARGAN was listed in the Kuwait Stock Exchange. Moreover, ALARGAN continues to pursue a strategic integration of its services under the real estate value chain. In that respect, ALARGAN's contracting and project management subsidiaries, se


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Ticker Price Volume
ARGAN Sector Market
P/E
Price/BookValue
Dividend Yield (%)
Ticker Price Change
SOKOUK 60.00 0.50 (0.84%)
EMAAR 13.35 0.25 (1.90%)
ALDAR 8.27 0.10 (1.22%)
EMAARDEV 13.35 0.35 (2.69%)
MASAKEN 60.60 17.90 (41.92%)
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