2023 Summer Issue of Urban Land - 60

Sid Yog, Rui Hua Chang
Reflecting on Philanthropy, Education, and 30
Years in Real Estate with Xander Group's Sid Yog
sid Yog, the founding partner of the
Xander Group, reflected on his career in
discussion with ESR Hong Kong managing
director Rui Hua Chang during a fireside
chat at the ULI Asia Pacific Summit
2023 in Singapore.
" I think every opportunity or every
experience combines to make you who
you are, " he said. " Whether those experiences
be delightful or some of those
experiences be challenging, I wouldn't
change anything. "
Siddharth Yog, better known as Sid,
has experienced plenty in his career,
having worked in global real estate and
infrastructure since 1993.
The following decade, he received his
MBA degree with high distinction from
Harvard Business School, where he was
elected a Baker Scholar and president of
his class. In 2005, he cofounded Xander
Group, an emerging markets-focused
investment firm that manages assets in
excess of $3 billion.
" One common theme [in my working
life] has been a deep-rooted sense of
wanting to change the status quo, " he
said. " The way I've tried to do that was
in being entrepreneurial, in whichever
phase of life. "
From 1994 to 1998, Yog helped set
up CB Richard Ellis's India operations
and led the consulting, valuation, and
research groups. From 1999 to 2002, he
was based in Singapore and Hong Kong
Rui Hua Chang as founding director of
Sid Yog, founding partner of Xander
Group, with ESR Hong Kong managing
director Rui Hua Chang.
CBRE's Asia Pacific strategic consulting
practice.
Addressing the ULI audience, Yog-
also the founder of Virtuous Retail and
cofounder of Ashoka University-said
that the " real estate industry as a whole
is a champion of this entrepreneurial
urge that's really driven me.
" That, I think, is one thing that binds
everybody in this room together, which
is this spirit of creating new things, of
delivering new solutions, in an industry
that touches pretty much every human
being on the planet. "
From 2014 to 2019, Yog served at his
alma mater, Harvard, as a research and
teaching faculty, instructing business
school students on topics such as " Real
Property " and " Property " and " Real
Estate in Frontier Markets " and " Investing
in Emerging Markets. "
Before that, Yog was just 38 years
old when he donated more than $11
million to Harvard in 2011. That notable
gift-one of the single-largest individual
donations by an Indian national to the
university-was to establish new professorships,
fellowships and financial
aid, and an intellectual entrepreneurship
fund.
Asked for his advice to those interested
in becoming an investor, such as a
real estate investor, Yog shared what he
has told his students and others seeking
a career in private-equity investing.
" One of the things I've always told my
students was that if you want to be a
good investor, especially in real estate,
get your hands dirty first. Start in the
industry-it doesn't matter what you
do-and understand the industry first
before you seek to become an investor.
" I really believe this is not about Excel
spreadsheets or fancy software, " said
Yog, who has encountered many people
with aspirations to enter the investing
sector. " You need to 'touch and feel'
real estate, because this is a bricks-andmortar
industry at the end of the day. "
60
URBAN LAND
SUMMER 2023
His second piece of advice? Avoid the
" arrogance of the buy side " for fear of
hubris and becoming humbled by this
demanding industry.
Yog's third piece of advice is to " go
where the growth is, " by which he
means go to a market or a geography
where one sees, for the medium term,
the vectors of growth.
For the next decade and beyond, Yog
is optimistic about India as an " investment
destination " since it is a large
nation with an evolving population that
is adding to its per capita income, with
an emerging segment willing and able
to spend more.
While he is confident of India's growth
story moving forward, Yog highlights
that some challenges remain about
which he cautions investors. " I think
there is great progress being made,
but . . . it is difficult to execute in India.
I mean, it's become easier, but it still
requires [some] ways to go, " he said.
With regard to philanthropy and
giving back-something close to his
heart-Yog expressed gratitude to the
privileges he has received and had one
main message: don't wait.
" In fact, look at the ULI. It's a great
example of how people come together
and give of their time, and of their
talent, to move the industry they're part
of forward.
" I've always believed that to whom
much is given, much is required. And I
hope that all of us who find ourselves
privileged with time, talent, or treasure
are able to give back to those who
don't have the same opportunities and
privileges.
" Writing a check is the easiest thing
to do. Giving time is far more difficult. "
YONG SHU-CHIANG is an editor, writer, and consultant
based in Singapore. He is an alumnus of the University of Texas
at Austin and has written for the Austin Business Journal, the
Straits Times, the Business Times, the Peak, Today, and CNET
Asia.
ULI
2023 Summer Issue of Urban Land

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