Name: Mohammed Parekh
Job title: Founder and director of MRP Premier Group
What I do: I am the founder and director of MRP Premier Group – a real estate consultancy, providing development, investment and regeneration advice to clients in both the private and public sector.
Why I got into the property industry: I was drawn to a career in the property industry from a young age because it offers a dynamic and diverse range of experiences while envisaging I would one day be building new communities. I love the fact that no two days are the same. I’m able to immerse myself in various projects, from commercial high rises and luxury residential developments through to estate regeneration initiatives. The versatility of the work allows me to engage in different aspects of projects, from conducting site visits and building relationships with stakeholders, to delving into the intricate details of financial viabilities and examining detailed drawings. I appreciate the personal touch that the property industry provides, allowing me to interact with people on a more personal level while also delving into the technical and financial aspects of the projects. This combination of variety, interpersonal engagement and intellectual challenge ultimately fuelled my passion for the property industry.
How I did it: I undertook a BSc in geography with business at Hull University and later earned an MSc in international real estate and planning from University College London. I have over 16 years of direct experience in real estate focusing on investment, development, acquisition and social housing.
My first proper job: My first proper job was a two-month internship in the West End investment team at DTZ which later merged to become part of Cushman & Wakefield. I have some of the best memories in real estate from those eight weeks.
My first big break: The first major breakthrough in my career happened during a summer internship when I assisted a senior agent during a site visit with a Kuwaiti fund delegate. I provided Arabic translations for an investor struggling with technical terminology, showcasing my linguistic and interpersonal skills. This caught the attention of senior surveyors in attendance, who praised my ability to relate to investors. As a result, I was invited to a meeting with the head of UK operations which opened doors for me within the company. This underscored the importance of not only technical expertise, but also soft skills such as communication and cultural understanding in the property industry.
My inspiration(s): My parents are my primary inspiration. My father’s journey, coming to the UK in the 1980s as the head of his family after his father’s passing at a young age, showcased resilience and determination. Despite facing adversity, he worked tirelessly to support his family spread across three continents while excelling in his own profession. My mother excelled in banking and then had a sudden desire to change her career path to education. Both their work ethic, commitment to ethical business practices, and pursuit of excellence in each field continue to inspire me every day.
The biggest challenge I’ve encountered to date: Most recently it has been the financial viability of schemes with rising build costs along with sadly many contractor insolvencies. Navigating the complexities of real estate is always tricky.
My greatest achievement/proudest moment to date: My greatest achievement so far is launching MRP Premier Group and growing the company. We are celebrating our three-year anniversary later this month. Taking the leap of faith and starting off on your own was daunting but well worth the hard work and sacrifice.
My biggest screw-up: When I was a graduate, I included an incorrect formula in a financial viability, which I later presented to the managing director. I felt embarrassed that I didn’t double check everything. However, every setback is a learning opportunity. There have been instances where a deal had fallen through or a project didn’t meet expectations, teaching valuable lessons along the way.
The biggest misconception people have about the property industry: Many people believe that the property industry is solely driven by profit and success is instant. In reality, development can be a force for positive change and community development. Local authorities regularly deliver schemes at cost, while private developers really focus on public realm improvements. Projects can take a number of years, therefore having patience is key.
My biggest bugbear about the industry/the one thing I would change about the industry: The property industry is so entwinned with political ambitions and manifestos, it stifles development especially in the UK. The current UK government continues to neglect the housing minister position with the minister changing far too many times in the past five years. We are in desperate need for new homes and services across the UK. We have disparity in respect to development across the UK, political ambitions of parties and NIMBYISM stifling development, as well as a planning system which is stretched to say the least.
Where I’d like to be in five years’ time career-wise: MRP Premier Group will be eight years old by then. I would like to have several partnerships with local authorities and housing associations in place, while growing my business across different sectors of the property industry.
My main career goals right now: To continue and further my personal development. Our sector is constantly changing and I am really intrigued by how technology for smart homes and innovative heating/cooling systems will drive the delivery of new homes. I’m passionate about modern methods of construction (MMC) and I really want to champion this moving forward.
Who I’d invite, living or dead, to a dinner party: This is a tough one. It would have to be Nelson Mandela, Gordon Ramsay as I would like him to be the chef and Muhammad Ali for the entertainment.
What I do in my downtime: Spending time with family and friends, watching Manchester United who regularly disappoint me and following cricket in all formats. There is no better time spent than at a test match at Lords. A picnic bag full of cheese and grapes and the magic of the test cricket! Although I’m not a huge fan of Baz Ball recently.
The job I’d be doing if I was not doing this: I would have definitely been a commercial pilot or had a career in the air force. I was very close to pursuing a career in the air force before I started my career in the property industry.
My advice for someone just starting out: Stay grounded and committed to your principles. Make sure to seek knowledge and mentorship, and always strive to make a positive difference through your work. Don’t be scared to ask questions or suggest different ideas. Being in a healthy working environment is key to learning and improving your knowledge. Do not fear working for a small company and carve a path out for yourself. There is no set rule or pathway for a career in the industry.
My motto/mantra: Integrity and innovation drive success. Always strive to make a positive impact, both professionally and ethically. The way you conduct business is a testament to your character. People do business with people. Be yourself and show your personality at every opportunity.
