Arasto Hesami emphasizes the necessity of restructuring the company’s financial and technical frameworks at the start of this new chapter for the organization. He asserts that Etmadgostar, leveraging both capital market potential and executive experience, has the capability to emerge as a leading entity in the national construction sector. Registered under number 258762 in the capital market, the company now seeks to offer a modern roadmap for project financing, execution, and addressing the needs of first-time homebuyers, supported by a refreshed management team and board members representing reputable construction companies. This approach marks the beginning of a new phase in Etmadgostar’s operations, which is becoming increasingly clear and tangible through Hesami’s initiatives and programs.
Comprehensive Pre-Sale Roadmap for First-Time Homebuyers
With the introduction of a new management team and strategic shift, Etmadgostar Construction Investment Company has designed a comprehensive program to support first-time homebuyers. This initiative represents a long-term roadmap addressing both financial and technical dimensions, aiming to align future construction projects with modern standards.
On the financial side, the company’s leadership believes that without modern tools and diversified methods, securing resources for large-scale projects would be impossible. Accordingly, a series of solutions—including bank facilities, creation of land and project funds, issuance of Islamic financial instruments such as Sukuk, and staged capital increases—has been implemented. These measures act as a financial engine for the company, ensuring projects progress on schedule with sufficient resources.
On the technical side, extensive measures are planned. These include establishing sustainable units, emphasizing green standardization, using low-carbon materials, and integrating smart building technologies. Company executives stress that future buildings must not only be durable and cost-effective but also lead in energy efficiency, pollution reduction, and improved resident quality of life. Furthermore, forming specialized committees—such as Investment Committee, Risk Committee, and Escrow Committee—alongside transparent and continuous reporting, aims to strengthen and maintain shareholder and investor trust.
Entry of Independent Business Group and the Start of a New Chapter for Etmad
The inclusion of Independent Business Group in Etmadgostar’s shareholder structure represents a significant milestone in Iran’s housing and construction sector. This move not only reflects a transfer of ownership but is also considered the start of a fundamental structural change in housing production and financing—a strategic pivot poised to shape the industry’s future.
The group’s valuable experience in executing large-scale projects, combined with its position among the country’s top 500 companies, is now integrated with the existing capital market potential. This synergy creates fresh growth opportunities and enables Etmadgostar to aim for a position among the top five national builders within three years. Alongside this ambitious goal, the company plans to restructure finances, review asset management, recruit key specialized personnel, and redesign its brand to become a transparent, agile, and responsive institution.
Multi-Layered Financial Approach and Strategic Investor Attraction
Arasto Hesami explained in a detailed interview with Donya-e-Eqtesad that Etmadgostar’s growth strategy is based on a multi-source financial model. He emphasized that relying on a single financial source is neither feasible nor sustainable under current conditions. Therefore, the company’s main strategy involves utilizing a combination of methods and instruments to secure funding, reduce project risk, and accelerate execution.
He noted that staged capital increases combining cash and non-cash contributions constitute a cornerstone of this strategy. This model links internal resources with project assets, providing the necessary funding at each stage. Furthermore, establishing corporate governance and an Investment Committee is a step toward attracting strategic investors and business partners. Joint venture agreements with landowners and key contractors help distribute responsibilities and risks among stakeholders.
Leveraging Banking Capacities and Financial Facilities
Hesami highlighted the essential role of banks in project financing. For residential projects, civil participation construction facilities are indispensable, backed by land value and project progress to ensure banks’ confidence in fund recovery.
Additionally, working capital facilities for essential materials such as steel, cement, and infrastructure equipment are planned. Repayment schedules are aligned with cash flows from unit sales, reducing financial pressure on projects. Prepayment guarantees and performance bonds enable contractors to free liquidity and focus on project execution without concerns.
Capital Market Instruments Utilization
Hesami also pointed to capital market tools. For each construction project, land and construction or project funds will be designed to ensure transparent and systematic financing. Issuing various Sukuk instruments—including lease, Murabaha, and partnership Sukuk—is part of the plan, covering everything from material procurement to site equipment.
These instruments allow small and large investors to participate directly in projects and benefit from returns. Pending regulatory approvals, real estate investment trusts (REITs) will also be established to provide sustainable income distribution and optimal asset management.
Sales Strategy and Asset Management
The new board emphasizes that sales and asset management are critical to development success. Innovative pre-sale methods, including escrow-controlled pre-sales and organizational sales packages for institutions and employers, are designed to enhance transparency.
Low-performing or underutilized assets will be either sold or exchanged for cash and capital. Company targets include reducing debt-to-equity ratio below 1.5, shortening residential project timelines to under 18 months, and sourcing over 70% of project funds internally, backed by four trillion rials in operational assets and audited, transparent reports.
Green and Modern Construction Approach
Hesami highlighted the company’s strategy for energy optimization, resource management, and use of low-carbon materials. Future projects will meet housing market needs while complying with international sustainability standards.
Initiatives exceeding National Building Regulations (Chapter 19) include improved building envelope thermal performance, low-emission windows, smart shading, and designs reducing energy consumption.
Renewable Energy and Resource Management
Solar panels on rooftops and parking lots, EV charging stations, and infrastructure in smaller projects are among the design priorities. Water management plans include rainwater harvesting, gray water recycling, and installation of water-saving devices, reducing operational costs and conserving resources.
Low-Carbon Materials and Smart Building Systems
Hesami stressed the importance of innovative, low-carbon materials such as AAC blocks and low-carbon paints, already researched by Independent Group and now implemented in Etmadgostar projects. Smart building systems (BMS), individual meters, and consumption management apps are part of this initiative, reducing residents’ costs and improving life quality.
Green Workshop Management and Sustainability Indicators
Environmental standards are applied not only in design and construction but also on-site, including dust control, noise management, waste segregation, and recycling. Quantitative indicators aim to reduce energy consumption by 25–30%, save water, and minimize carbon footprints, aligned with national and international standards.
Target Market and Customer Segments
Hesami identifies five main target groups:
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First-time homebuyers and young middle-class couples, with appropriately sized units, low maintenance, and smart designs, available via escrow pre-sales, installment plans, and support schemes such as National Housing Initiatives.
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Employees of organizations via B2B and B2G contracts, with bulk sales and customizable designs and post-delivery services.
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Investor landlords seeking rental income, with projects designed for maximum returns and integrated property management to minimize vacancies.
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Upgrading households seeking lifestyle improvements, with amenities like gyms, pools, community halls, and local services.
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Iranians abroad, able to invest via transparent standard contracts, with remote management and clear reporting.
Etmadgostar Construction Investment Company (Public Joint Stock), registered under number 258762, has expanded its operations in residential and commercial projects by leveraging capital market capacities. Regular performance reports are submitted in compliance with capital market regulations, and the latest annual general assembly introduced the new board composition:
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Arasto Hesami – Chairman of the Board
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Ebrahim Jabbari – Vice Chairman, representing Sakhteman Sam Yar Arka
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Shawn Lao Ghaleh Pardaz – Board Member & CEO, representing Sakhteman Aryo Saood Barin
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Arghavan Dabbaghi – Board Member, representing Tarh va Sakht Amer Mostaqel
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Hamid Ramezani – Board Member, representing Sakhteman Mehrnegar Vida
This board, drawn from reputable and experienced construction companies, reflects Etmadgostar’s approach to attracting expertise and leveraging synergy among multiple active construction entities, as emphasized in official Codal reports and recent managerial interviews.