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About us

Chairman’s message

Dear Shareholder,

ARGAN is the only family-owned French real estate company specialising in the DEVELOPMENT & RENTAL of  PREMIUM warehouses for major companies.

Our aim is to build a portfolio of modern PREMIUM warehouses built with the highest standards, to ensure an occupancy rate close to 100%. Our portfolio is constantly being enhanced by new turnkey developments and the extension of existing sites to meet the changing needs of our tenants.

At the same time, disposal of mature assets allow us to partly-finance our growth.

Our development has been fast, constant and well managed. From a blank canvas in January 2000, our portfolio now approaches 3.6 million m² and rental income continues to grow steadily.

I share this success with an in-house team, who has expertise on the whole value creation chain: development, rental and financial management.

Listed on Euronext since 2007, unique pure-player, Argan is the French leader of logistics real estate.


Jean-Claude LE LAN
Founder Chairman

Our expertise in development & rental managament

How to develop a logistics platform ?

Implementing process

Development process

Our expertise in development

The rental process of a logistics platform

Our expertise in property management

After the development program, then follow the rental & propety managament

The tenant find, after moving-in into his logistics platform Argan’s team in charge of the property management for the entire duration of his lease.

The rental and property management requires expertise in commercial leases, but above all it requires a spirit of long-term partnership and an utmost respect for the tenant.

The comfort of having a single contact point, from the development process, to end of the lease

Our current tenants are generating 50% of our development thanks to their own growth. They have perfectly understood all the advantages to have a single entry point. This allow them to have a full continuity of the contractual relationship initiated during the off plan lease, before the completion of their logistics platform, during its construction and during its rental and property management.

Key figures

Portfolio at end of 2023

Number of logistics plateform 100
Total area 3,580,000 sq.m
Valuation (excl.duties) €3.68 Bn
Occupancy rate 100%
Average years of the portfolio 11.1 
Average remaining fixed lease term 5.7 

Results at end of 2023

Rental Income €183.6 m
IFRS net results (group share) -€263.4 m
Recurring net income (group share) €125.6 m
EPRA NAV NTA / share  €79.1 
EPRA NAV NRV / share  €90.6
EPRA NAV NDV / share  €83.6

Stock market (31/12/2023)

Stock price (29/12/2023) €85 
1y change +12%
Dividend per share €3.15
Dividend yield  4%
Average liquidity (Euronext) more than 14,000
Market Cap €1,966 m
Number of shares 23,079,697

Our rental income

A steady growth of rental income from the beginning (€m)

Historique revenus 2016-2024