Sankey Prasad has stepped down from his position as chairman and managing director of Colliers India and Colliers Project Leaders, Colliers said in a statement on October 28.
While Prasad has relinquished his position as the CMD in the Colliers Project Leaders Middle East business, he will continue to hold a stake in the company.
Based in the Middle East, Prasad will now focus on selective entrepreneurial opportunities and provide technical support at the strategic board level to developer and investor clients in the real estate, infrastructure, and capital projects domains across India and the Middle East and North Africa (MENA) region, Colliers said in a statement.
“While he has relinquished his position in the Middle East – Colliers Project Leaders business of Colliers as CMD, he will continue to hold a stake in the company,” the statement said.
A civil engineer with more than four decades of experience, Prasad began his career in 1983 and held leadership roles with major developers and construction firms in India and overseas before founding Synergy Property Development Services in 2003.
In 2008, Blackstone Inc. made its first real estate investment in India by acquiring a 35% stake in Synergy through a $18 million investment. Following Colliers International’s acquisition of Synergy in 2019, Prasad was appointed chairman and managing director for Colliers India, leading the firm’s operations and growth strategy.
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During his tenure, Colliers Project Leaders Middle East secured several high-value mandates, including the $250 million World Trade Center Yerevan project, and a mixed-use development in Armenia for which the firm will provide end-to-end project management and delivery services.