We talk exclusively to Nori Touati, founder and managing director of Ankor Property Group, about his career path and what he loves about working in the property industry.
Please tell us a little about yourself and your current role.
I’m managing director of Ankor Property Group, a London-based developer which delivers a range of property solutions including private sale, student and discount market rent housing. I oversee all aspects of the business, with a focus on finding sites and structuring deals with our investors.
Yours is a unique path into property – what journey got you into it?
I came to the UK from Algeria at the age of 16 and my first job was with McDonalds. Soon after I got into the hospitality industry and met some inspiring entrepreneurs who taught me about starting a business. This led me to my first property – a single flat renovation in East Ham which got me hooked. Things started to take off from there with Ankor Ltd founded in 2006 and Ankor Property Group officially founded in 2015. Since then we have delivered well over 500 units – and we hope to hit the thousands in the next couple of years, many of which will be affordable, in partnership with local authorities.
Is there something about property – in particular the residential sector – that you find especially satisfying?
The biggest satisfaction for me comes from providing housing for normal people like key workers and young professionals. My late teens were spent in a council estate in the East End and I saw first-hand the problem we have with proper housing delivery in London, which sticks with me today. That remains a key driver for me with the company.
Do you see first-hand many of the wide range of skills needed for a successful development?
I remain close to all of our projects so I’m exposed to our great team at most parts of the journey, whether land and planning, investment or construction. The thing that connects us all is a desire to solve problems and unlock opportunities – even those who are younger and just starting out.
One example is our junior QS, Charlie, who is studying part time at the University of Westminster on an undergraduate course in Quantity Surveying and Commercial Management. His astute nature and willingness to learn has made him an integral part of the team already.
What are the skills you really admire?
Problem solving and the ability to think laterally are hugely important. As a business we have created a bit of a name by turning around deals that many would deem as extremely complex or unviable. We can’t compete like for like with the more conventional firms but on innovation, we can get an edge.
Throughout your time in property, are there onsite and offsite roles that you have found difficult to recruit for?
We find that the property management side can be hard to recruit for. This is a frontline role and often the first impression that people will get of your development – so it’s imperative that they are the right fit.
Who’s provided your best inspiration and support?
Some of my earliest inspirations was Robert Cohen and John Anderson, from Urbium, which ran the Tiger Tiger brand of restaurants and clubs. I got to work with them during my hospitality days and learnt a huge amount – how to start and run a business, and more importantly keep it growing.
With your own success, and others you admire, are there personal qualities essential for would-be property entrepreneurs?
I think vision, personality and charisma are important. There are some days when nothing seems to be going right but you have to put on your face and rally the team around you.
Networking and ‘getting out there’ are important – so that people will come to you first with opportunities. For example, there are thousands of sites out there that most people will never hear about. If you can be the 1% that gets the early call about them it puts you in a much better position.
For somebody considering a career in property – whatever the role – what’s your advice?
Don’t rule out small businesses – the graduate schemes of the big players are definitely good but at a small business you get exposed to a lot more early on. Also, have patience, property is a long term game and you’ll need to have tenacity to stick it out.
