Aneel Mussarat
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Aneel Mussarat was born in Manchester in 1970 to Pakistani parents settled in Manchester from Faisalabad city. Aneel was ranked the 466th richest person in UK and 21st richest Asian in UK in 2007 by the Sunday Times.[1] He is founder of MCR Property Group.
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[edit] Early life
His father was from a well known and respected background in Faisalabad. His father used to help his maternal uncle in a very famous store in Manchester known as "Chaudhry Hosiery" back in late 60's. Aneel's father died when he was only 8 due to a stress related disease and kidney failure. Aneel had a love marriage at the age of 21 to Mehr. He married Mehr when she was on her holidays from Karachi staying at their house.
[edit] Classic Homes
After completing high school, Aneel Mussarat engaged in collecting rent and managing properties that his family owned. Despite having bitter experiences with tenants, Aneel found interest in this sector and decided to engage completely in the property business.Aneel started to buy,renovate and rent out properties in Manchester. That were within the range of £10,000. Aneel worked dedicatedly in his "buy to let" business and found massive success as time passed.
Aneel developed important contacts with the stakeholders of his business. He utilised cricket pavilion boxes instead of golf cources to extend his Business relations. Aneel's credit record enabled him to get the interest rate that is competitive for his ventures. Aneel moved up the ladder and started managing,constructing, renting out properties through a Private Limited Company named as "Classic Homes". Aneel's interest developed further with success and he continued to expand his business further into residential and from residential to commercial sector. Aneel also specialised in student residences in Manchester and the most famous of the project known as "Student Village". He is also famous by the title of "Student Housing Magnate".
[edit] MCR Property
In 2006 Aneel merged the residential and commercial businesses into one large group formed to be known as MCR Property Group www.mcrproperty.com. MCR now holds a portfolio in excess of £600 m. The Group's combined holdings place it amongst the largest property groups in the North-West England along with Peel Holdings and Bruntwood. The Group's commercial holdings return is very competitive and is a major success.It is also expanding outside Manchester with sections of properties in Mayfair(The most desirable address in London),student accommodations in Liverpool and investment properties in Dubai, Europe and Lahore.
[edit] Groups Success
At this time the goodwill with MCRs' Stakeholders is very high which helps the group to maintain a good control on its massive equity or liabilities raised through banks of around £450 m.
[edit] Interests& Critics
Aneel has co-produced movies with Anil Kapoor Bollywood's movie star by financing his home productions. He has also supposedly financed the APC (All Parties Conference) in Manchester hosted by Nawaz Sharif former Pakistani Prime Minister which involved bringing all political parties of Pakistan on one platform.
Critics have pursued the fact that large property holdings by such groups has enabled and speculated the prices of property rent and value. This has made it increasingly difficult for tenants , first time buyers and low earners in UK such as (Librarians, Teachers and Nurses) to get into the property ladder. The property price inflation in the last decade has taken away the opportunity from the individual buyers even further beyond their reach. The companies have also been criticised for bad management and behaviour towards their tenants. The employees of the group are critical of the working attitude and reward level given to them.[2]
He is known to be very committed in his work and people close to him inform that he works from 6am to as late as 12pm.
He is a family man. He is mostly a private person but is sometimes seen in different social gatherings such as Film awards, movie openings and political receptions. He does like to socialise with close family and friends. His interests involve movies, family and travel.
[edit] References
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