UK property giant Landsec has announced the appointment of Nisha Manaktala as its new Chief Data and Technology Officer. In this newly created role, Manaktala will join the executive leadership team and report directly to CEO Mark Allan.
Manaktala brings with her over 20 years of technology leadership experience, having worked in various roles across start-ups and global enterprises. Her expertise lies in data, engineering, and operations. Previously, she served as the Chief Technology Officer at insurance group Hiscox Re & ILS. She has been recognized as one of the ‘Top 100 CIOs’ in the UK for her ability to deliver digital business transformation through complex change programs.
Mark Allan expressed his enthusiasm for Manaktala’s appointment, emphasizing the importance of data and technology in Landsec’s strategic progression. He believes that Manaktala’s expertise in delivering digital business transformation will not only help the company navigate the complexities of the industry but also position it for future success.
This appointment comes at a challenging time for Landsec. In May, the company reported an annual loss as the valuation of its portfolio was negatively impacted by surging interest rates and broader economic issues. As a result, Landsec has stated that it is likely to focus on selling more assets rather than making new purchases. The company’s property portfolio, which is valued at £10.2 billion, has decreased by 7.7% compared to the previous year. Losses before tax for the year ending on March 31 amounted to £622 million, a significant contrast to the £875 million profit of the previous year.
However, despite these challenges, Landsec is confident that Manaktala’s addition to the leadership team will better equip them to thrive in the complex world of real estate. The integration of data and technology into their operations will be a key focus, enabling them to adapt to industry changes and drive growth. Landsec remains committed to its long-term strategy and is determined to overcome the current obstacles with the support of its talented leadership team.
Sources:
1. [Nisha Manaktala’s LinkedIn Profile](https://www.linkedin.com/in/nishamanaktala/)
2. [Landsec Official Website](https://www.landsec.com/)
