Emad Abdullah Al-Essa

Mr. Emad Al-Essa has held the post of Chief Executive Officer of Kuwait Real Estate Company (AQARAT) since 2009. He has long history within the company and an unrivaled reputation as a successful leader spanning three decades in executive level positions. During his tenure, the company has made great strides, both in regards to management restructuring as well as financial performance.

Beginning his career in 1986, he was initially appointed to the position of Investment Analyst at Pearl Investment Company, which was, at the time, the investment arm of KREC. During his time at Pearl, he was responsible for overseeing a KWD 120 million portfolio of international properties. The company held significant hospitality, industrial, commercial and residential assets spanning the Middle East, Europe and North America.

After having been promoted to Investment Manager in 1993, Mr. Al Essa was responsible for growing Pearls asset portfolio by over 40% in the span of four years. He was also was responsible for overseeing the decoupling of Pearl and KREC prior to his leaving the company in 1997.

Following his departure from Pearl, Mr. Al-Essa was appointed to the position of Investment Manager at Kuwait Real Estate Company, where he was instrumental in growing and diversifying the companys investment portfolio. Through investments in various sectors, including the food industry, the company was able to expand its portfolio into lucrative businesses, some of which are still maintained to this day.

In 2005, Mr. Al-Essa left to become of the founders of Aqar Real Estate Company where he was appointed as General Manager. In his four years as GM, he was responsible for acquiring and developing a portfolio of residential assets in Kuwait that grew to over KWD 45 million in value.

Rejoining KREC in 2009 as Chief Executive Officer, Mr. Al-Essas initial task was the restructuring of the staff and management team. That was accomplished through his appointment of new heads of departments, including Investments & Acquisitions, Facilities Management, Real Estate Development, Finance and Human Resources. His next undertaking as CEO was the restructuring of the companys debt structure. In 2010, in the midst of the international real estate and bank liquidity crisis, Mr. Al-Essa was able to secure corporate debt in excess of KWD 50 million.

During his first 18 months in office, he was able to reduce the companys operating budget by more than 50% by identifying redundancies and increasing operational efficiencies. Since his appointment to the post of CEO, the company has seen its asset base grow from KWD 164 million in 2010 to over KWD 191 million in 2013 and its market capitalization increase by 67% in the same timeframe.