Orchid Real Estate Wants to Focus on Hotel Apartments in Kuwait

Interview with Nouria Al-Neama, Vice Chairman & MD of Orchid Real Estate

Tell us about your career.

In 1984, I graduated from Kuwait University and began working at Burgan Bank of Kuwait as a management trainee. After 15 months of training I joined the auditing department and after 6 years of hard work, I became head of the group. A real estate bank then extended an offer to me for a senior auditor position and I made that move.

During my time there I stepped away to become a Certified Bank Auditor (CBA), which involved obtaining a specialized certificate from the United States. After I obtained the needed credentials I met with the Central Bank of Kuwait. I became Chief Internal Auditor (CIA) of the Kuwait Real Estate Bank.

At that time, you reached the highest level for women in Kuwait’s banking arena.

You could say that. At the time I was the first Kuwaiti woman to become Chief Internal Auditor at a bank and to receive the certified bank auditor certificate. After twenty years of working in the banking arena however my family’s company was expanding and I had to step away to see to the future of the business.

What sets you apart from other real estate companies is what you do with decoration, design, and furniture.

In what sectors is your company active? What companies are you associated with?

My company is called Orchid Real Estate. We are active and operate in local and international residential and commercial real estate sectors. I am also the chairman of Jood Gulf Holding Company.

What are the types of businesses you are involved in?

I’m involved with all the subsidiaries of Jood Gulf Holding Company. Our subsidiaries deal with real estate, logistical work, air conditioning, kitchen manufacturing, aluminium factories, sliding, and the list goes on.

You are a very large group with a lot of activities. What do you specialize in on the real estate side of your business? What are the strengths of Orchid Real Estate?

Orchid Real Estate specializes in buying and selling buildings within Kuwait and internationally. We buy buildings, renovate them, and then prepare them for resale. Once touched by us, the buildings’ value increases (often double) and this is where our speciality lies.

Are you involved in the decoration, design, or choosing furniture?
I’m involved in all three. Our process involves visiting furniture companies, talking to their engineers, deciding on design, and more. What sets you apart from other real estate companies is what you do with decoration, design, and furniture. You have to be creative but the most important thing is love. Love what you do and do what you love.

How would you assess the current market in Kuwait? Is there a lot of demand?

It is fluctuating. In the last four to five months it has slightly decreased due to our economy but I am optimistic that it will grow again and real estate will thrive.

Is there a specific area of your business that you want to focus on?

We want to focus on residential real estate through hotels. Hotel apartments are beneficial because as tourism increases, the demand for these spaces increases. Many people from the Gulf area are coming to Kuwait and need these spaces so we want to concentrate on this area.

Are you interested in attracting investors or international brands and companies to partner with, or do you want to keep your business a family business?

I am open to expansion if it will increase our brand and reputation and is good for the country. Expansion is often a discussion in our daily and weekly meetings.

Is there space for you to expand into other sectors?

In 2020, Kuwait aims to be the capital of the food industry. Visitors from surrounding countries often come for our restaurants and are increasing in numbers. We would like to expand into the food sector and there is space and opportunity to do so. We are particularly interested in providing specialty coffees and Italian foods.

What would you tell the members of the business community abroad that are interested in Kuwait? Why should they come here?

It is a great time to come and invest in Kuwait. Kuwait has incredible opportunities for entrepreneurs with new ideas and big dreams. Anyone who concentrates and has a promising business plan can achieve something here.

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