Gilan Holding, one of the largest holdings of Azerbaijan, has launched a corporate website www.gilanholding.com, which covers the activities of more than 50 of its leading commercial subsidiaries.
The site functions in Azerbaijani, English and Russian languages.
Established in 1992, the holding company invests in large-scale projects in Azerbaijan, while providing a "part of the economy in the global market." So it is described on the website of Gilan Holding founded by two companies registered in the UAE. These companies (Sahra FZCO - 51%, Shams Al. Sahra FZCO - 49%), as indicated in the year’s report of AFB Bank (a subsidiary of the holding company), belong proportionally to the young brothers Taleh and Nijat Heydarov.
The holding operates mainly in the fields of construction, building materials, food and beverage, agriculture, tourism and hotel business. The holding’s enterprises are also engaged in the transportation and logistics, trade, insurance and banking, alternative energy, real estate, etc. It owns 11 hotels in Baku and regions. Currently being built in Baku is the skyscraper Crescent, including the Crescent Hotel, the business center Crescent City, and the residential, retail and entertainment center Crescent Place.
It also invests in the development of sports facilities and sports tourism. The holding has a network of branches outside the country. One of the structures of the holding abroad is United Enterprises International (UEI). It is engaged in the promotion of Azerbaijani products at the international level. Founded in 2008, UEI manages and invests in a broad range of industries, agriculture, construction, energy, financial services, real estate and tourism.
The holding does not disclose its total assets. However, according to the financial report of AFB Bank, its assets at the beginning of October 2014 were 312 million manat, and according to Azsigorta (31 December 2013) - 63 million manat.
Note that in Azerbaijan there is no ranking of holdings and corporations by market capitalization and assets. The largest holdings of the country are: Pasha Holding, Azersun Holding, Gilan Holding, Accord, Synergy Group, Ata Holding, Garant Holding, Avesta, AB Standard, MKT IC, Azenco Group, International Bank of Azerbaijan and others. --08B-
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