Aayan

What Aayan does

Aayan Leasing and Investment Company K.S.C.P. (Boursa Kuwait: AAYAN) is a Kuwaiti public shareholding company founded in 1999, headquartered in Kuwait City, operating in Sharia-compliant leasing and real estate investment. The company's revenue base is built on three streams: vehicle and equipment leasing to corporate clients, Kuwaiti government ministries, and individuals (operated through the Aayan Leasing Holding Company subsidiary and intermediated by concluded relationships with major auto dealerships); direct ownership and management of commercial real estate assets, most notably Yaal Mall and Tower in Fahaheel (15,002 sqm retail, 39 office units across 13 floors on a 7,183 sqm site with 448 parking spaces) and Jahra Mall on the 6th Ring Highway anchored by Lulu Hypermarket; and the Awaed Real Estate Fund (صندوق عوائد العقاري), a quarterly-subscribed investment vehicle that distributes monthly returns by investing in rental, buying, selling, and development of income-generating properties. The operating technology is a Sharia-compliant financial services platform with a dedicated Fatwa and Oversight Board enforcing Islamic finance compliance; no proprietary software, APIs, or AI capabilities are disclosed. Go-to-market is direct sales-led: leasing contracts are negotiated bilaterally with corporate clients and ministries, tenants are signed directly for owned properties, and fund capital is raised through quarterly subscription windows open to mid-market investors. The company completed a major balance-sheet restructuring between 2016 and 2020, reducing debt from KD 333 million to KD 160 million, and is now in active consolidation mode, with mandatory acquisition offers for Aayan Real Estate Company and Mubarrad Holding Company announced in July 2025 and a strategic investment in a Kuwaiti private hospital disclosed in April 2026.

Name

Aayan

Legal name

Aayan Leasing and Investment Company

Website

https://aayan.com

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

1–10 employees

Short description

Aayan Leasing and Investment Company K.S.C.P. (Boursa Kuwait: AAYAN) is a Kuwaiti public Sharia-compliant leasing and real estate investment firm serving corporate clients, government ministries, and individual investors through vehicle/equipment leasing, directly owned malls (Yaal Mall and Tower, Jahra Mall), and the Awaed Real Estate Fund.

Ownership category

akta.pro rank

Product category

Leasing and Real Estate Investment

NAICS

Lessors of Real Estate (5311), Offices of Real Estate Agents and Brokers (5312), Rental and Leasing Services (532), Portfolio Management and Investment Advice (52394)

SIC

Lessors Of Real Property, Nec (6519), Real Estate Agents & Managers (For Others) (6531), Services-Auto Rental & Leasing (No Drivers) (7510), Investment Advice (6282)

akta.pro primary industry

Property Management Advisory & Leasing Administration (FSAEAJAN)

akta.pro secondary industries

Real Estate Investment Advisory (Acquisitions/Dispositions, Capital Allocation) (BPAJANAA), Commercial Real Estate Brokerage (Leasing & Sales) (FSAEAJAB), Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH)

Keywords

• Leasing services
• Real estate investment
• Sharia-compliant finance
• Property management
• Investment fund management

Headquarters

HQ city

Kuwait

HQ country

Kuwait

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Others

Revenue model

1. Leasing Operations: Vehicle and equipment leasing services to corporate clients, ministries, and individuals. The company conducts leasing transactions with major auto dealerships and corporate clients.
2. Real Estate Management: Managing diversified properties including commercial, investment, industrial, and crafts sectors. Revenue generated through rental income, property sales, and development activities.
3. Awaed Real Estate Fund: The company manages the Awaed Real Estate Fund which aims to achieve capital and cash profits through investing in renting, buying, selling, and developing income-generating properties, paying monthly returns to investors.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Aayan Leasing and Investment Company is a Kuwaiti public shareholding company providing Sharia-compliant leasing and real estate investment services. Its core activities include vehicle and equipment leasing to corporate clients, government ministries and individuals, management of the Awaed Real Estate Fund (a quarterly-subscribed real estate fund paying monthly returns), and direct operation of commercial real estate assets including Yaal Mall and Tower in Fahaheel and Jahra Mall.

Product overview

Aayan Leasing and Investment Company operates as a diversified financial services and real estate investment firm. Its core product is the Awaed Real Estate Fund, an investment vehicle that generates monthly returns through real estate activities (renting, buying, selling, and development). The company also directly manages real estate assets including Yaal Mall and Tower, a mixed-use commercial and office development in Fahaheel, and Jahra Mall, a retail property serving the Jahra region. The Real Estate Department functions as a profit center managing diversified properties across commercial, investment, industrial, and crafts sectors, while the company also operates leasing and investment activities.

Differentiator

Problem solved

Functional benefit

Products and services

• Awaed Real Estate Fund (صندوق عوائد العقاري) A Sharia-compliant real estate investment fund targeting investors seeking regular monthly returns and capital appreciation. The fund invests in renting, buying, selling, and developing income-generating properties, with quarterly subscription windows. Capital Markets Authority has approved renewal of its right to deal up to 10%.
• Yaal Mall and Tower (مجمع وبرج يال) A mixed-use commercial real estate development in Fahaheel offering retail leasing in the mall component and office leasing in the tower component. Targets retailers, restaurants, and office tenants seeking prime commercial locations in a high-density residential area.
• Jahra Mall (مول الجهراء) A retail shopping mall property on the 6th Ring Highway in the Jahra Industrial area, featuring major brands including Lulu Hypermarket as anchor tenant, car parking, and accessible entrances and exits. Serves Jahra and Saad Alabdullah residential areas.
• Vehicle and Equipment Leasing Sharia-compliant leasing of vehicles and equipment to corporate clients, Kuwaiti government ministries, and individual customers. Includes transactions conducted through major auto dealerships, with car leasing contract value increasing 19% and used car sales up 7% in 2016.

Quantifiable outcome

• 7.7% rise in real estate revenues despite economic and real estate market slump
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Central Blood Bank (Kuwait)minorStrategic or Co-development PartnerAayan collaborates with the Central Blood Bank for blood donation campaigns as part of corporate social responsibility activities, demonstrating commitment to social responsibility and community service.

Scale indicators9 records

Recent moves7 records

Expansion highlights4 records

Regional players

• Gulf Finance House (GFH): Bahrain-based GCC Islamic investment bank managing real estate, private equity, and treasury products across the region. Overlaps Aayan on the Sharia-compliant real estate fund business from a broader GCC lens.

Direct peers

• Kuwait Real Estate Company (KREC): One of Kuwait's oldest listed real estate companies with diversified property portfolio across commercial and residential segments. Comparable direct landlord activity and publicly-listed Kuwait footprint.
• Mabanee Company: Kuwaiti-listed commercial real estate developer and landlord operating The Avenues mall and similar large mixed-use retail centers. Highly comparable to Aayan's Jahra Mall and Yaal Mall ownership/operation business, with overlapping Kuwaiti mall-investor customer base.
• Kuwait Real Estate Holding Co. (AQARAT): Kuwaiti-listed real estate investment and management firm operating commercial and residential assets across Kuwait. Directly comparable to Aayan's property portfolio segment in both scale and activity mix.
• Al Madar Finance & Investment Co. Kuwaiti-listed finance, leasing and investment firm of comparable small-mid market cap with overlapping leasing and investment activity. Comparable size and business mix on Boursa Kuwait.
• International Leasing & Investment Company (Kuwait): Kuwaiti-listed leasing and investment company combining vehicle/equipment leasing, real estate investment, and Islamic finance fund management — the closest structural twin to Aayan among GCC peers. Same Kuwaiti regulatory and Sharia-compliance backdrop.
• First Investment Company (FIRST): Kuwaiti-listed investment holding company combining asset management, real estate investment, and financial services. Comparable in fund management and portfolio diversification to Aayan's Awaed Fund and broader investment vertical.
• Tamdeen Real Estate Co. Kuwaiti-listed commercial real estate developer and lessor with retail malls and office assets, including mixed-use projects like 360 Mall. Closely comparable landlord business model and Kuwait geography.

Broad incumbents

• KIPCO Group: One of the largest diversified holding companies in MENA, with cross-sector exposure including insurance, banking, real estate, and asset management. Provides a scaled regional benchmark for the investment-management business model Aayan operates, though at far greater scale and breadth.

Others

• Burgan Bank / Kuwait Finance House (lender proxy): Kuwait Finance House is a major shareholder in Aayan and also the leading Islamic finance institution in Kuwait. Relevant counterparty / capital source for Aayan's debt and Sharia-compliant structures and represents the broader Kuwait Islamic finance ecosystem.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries5 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Aayan