New Delhi, July 8 -- Singapore-headquartered CapitaLand Group, one of Asia's largest diversified real estate groups, is set to bring on board a senior executive from a firm backed by private equity behemoth Blackstone as its India head, multiple people familiar with the development told VCCircle.
CapitaLand, which manages office parks, warehouses, data centres and coworking spaces in India, has hired Quaiser Parvez as its India head, the people said, asking not to be identified. Parvez will lead CapitaLand's businesses across business parks, warehouses, data centres, industrial logistics and other segments, the people said.
"He [Parvez] will be responsible for all the verticals going forward and will take care of all the strategies of CapitaLand in India," one of the persons mentioned above said.
A second person said that Parvez has stepped down as the chief operating officer of Knowledge Realty Trust, a Mumbai-listed real estate investment trust sponsored by Blackstone and Bengaluru developer Sattva Group.
"He will formally join CapitaLand in July and will be based in Mumbai," the second person said.
Knowledge Realty Trust hasn't yet made any disclosure to stock exchanges about his departure. A spokesperson for the REIT declined to comment. CapitaLand also declined to comment. Parvez was not immediately available.
Parvez was previously the chief executive officer of Nucleus Office Parks, the India commercial real estate platform of Blackstone, from 2019 to 2025. After Nucleus' assets moved to Knowledge Realty Trust, he became its COO.
Parvez has over two decades of experience and has worked with companies such as GE Capital, Convergys, JLL, CBRE and Radius Group, besides Nucleus Office Parks and Knowledge Realty Trust.
The appointment comes after the departure of Sanjeev Dasgupta late last year. Dasgupta was India CEO at CapitaLand Investments.
At CapitaLand, Parvez will lead the India business and be responsible for its overall strategy, operations and growth across business parks, data centres and logistics, while driving capital deployment and long-term value creation for the business, the people cited above said. He will report directly to the CapitalLand headquarters in Singapore.
CapitaLand's India team also includes chairman Kishore Moorjani; Gauri Shankar Nagabhushanam, CEO of the Singapore-listed CapitaLand India Trust; Sumit Gera, CEO of business parks; and Aloke Bhuniya, CEO of the logistics vertical Ascendas-Firstspace.
CapitaLand has a presence in India through both private funds and CapitaLand India Trust (CLINT). It currently has five India-focused private funds spanning offices, warehouses and data centres, besides CLINT.
With close to 39 million sq ft of diversified assets, CapitaLand operates across India's key markets of Bengaluru, Chennai, Goa, Gurugram, Hyderabad, Kolkata, Mumbai and Pune. The group started in India with the first business park in 1994 and diversified into other asset classes over the years.
CapitaLand Investments recently raised approximately S$150 million equity in the first close of its latest fund, CapitaLand India Data Centre Fund (CIDCF). The fund is targeting a final close of approximately S$300 million.
Published by HT Digital Content Services with permission from VC Circle.