Indian origin CEOs dominate US tech firms; Mathrani may make real estate their next arena.
Back in 2010, when New York based WeWork introduced the unique concept of providing shared work spaces for tech startups and other services, it did fill up an important overlooked gap.
But the stellar idea did something more than that too – it effectively created a coming together of real estate and tech – by means of an American real estate company providing shared spaces to tech companies.
While over the past one decade WeWork has managed millions of square meters of space, it was about time for WeWork to announce that it is a serious real estate company and not a great tech start up.
And on Sunday, WeWork did just that – by choosing Indian American real estate whiz Sandeep Mathrani to take over as its new CEO.
While American tech continues to grow under the stewardship of a host of Indian American CEOs, Mathrani’s appointment opens another arena of Indian American leadership – real estate.
Even though, the company had been faltering with its failed initial public offering lately, the new CEO with a storied real-estate experience is expected to turn it around.
Mathrani was the CEO of Chicago based Brookfield Properties’ retail group, a role he oversaw for more than a year. Just before that he was the vice chairman with the group.
Mathrani also served as the CEO of General Growth Properties, one of the largest mall operators in the US. for eight years before the group was acquired by Brookfield in 2018.
Before this, Mathrani was the executive vice president with Vornado Realty Trust.
Mathrani’s appointment comes at a very crucial time when WeWork’s co-founder and CEO Adam Neumann resigned from his position under pressure from investors.
Mathrani completed his masters in engineering from Stevens Institute of Technology. His appointment is closely watched by Indian Americans in real estate as it establishes the formidable desi presence in America’s growing real estate space too.