Criterion Capital, the privately owned real estate owner and platform operator with £6bn+ AUM, has strengthened its senior leadership team with the appointment of Vaqas Farooq as Chief Executive Officer, Steve Silvester as Chief Financial Officer, and the promotion of Thomas Rowland to Director of Development and Design.

 

These appointments come at a significant point in Criterion’s evolution, as the business accelerates its development pipeline across the UK, builds on its established presence in Portugal and develops a platform in Abu Dhabi. Together, the appointments add further capacity and expertise to support Criterion’s strategic priorities.

 

Entrepreneurial and agile, Criterion has a strong track record of unlocking value from underutilised buildings. It operates a vertically integrated model spanning acquisition, development, design and operations, transforming assets into hotels and residential apartments. As a custodian of some of London’s most recognisable real estate, Criterion combines ambitious development with a long-term approach to stewardship – enhancing the character of the places it owns and supporting the communities and neighbourhoods around them.

 

Criterion’s hotel portfolio comprises 28 hotels and growing across key UK cities, including its innovative in-house brand, Zedwell, one of the UK’s fastest-growing hotel brands. Focused on rest in prime city-centre locations, Zedwell has established a significant presence across London, including Piccadilly Circus, Park Lane, Knightsbridge, Tottenham Court Road and Greenwich.

 

Last year, Zedwell opened the world’s largest capsule hotel in the heart of London’s West End, with almost 1,000 beds, and its second capsule hotel in the capital is due to open later this year. Criterion also owns the eponymous Criterion Building at Piccadilly Circus, where it operates Moxy London Piccadilly Circus by Marriott, the world’s largest Moxy hotel outside New York.

 

Alongside hospitality, Criterion’s residential portfolio comprises 5,500+ apartments, while its commercial holdings span more than 50 buildings in prime London locations, including its Piccadilly Circus, Leicester Square and Knightsbridge Green estates.

 

Vaqas Farooq joins Criterion from Deloitte, where he led the firm’s UK Real Estate Legal business. With more than 25 years’ experience advising on major real estate transactions and regeneration projects, he brings strategic, commercial and leadership expertise, alongside a strong track record of building high-performing teams and driving growth.

 

Steve Silvester joins as Chief Financial Officer with more than 20 years’ experience scaling capital-intensive and investor-backed businesses across real estate and infrastructure. He brings expertise in capital allocation, financing, M&A and governance, with previous roles including Skyports Infrastructure and NewRiver REIT plc.

 

Thomas Rowland has been promoted to Director of Development and Design, bringing more than 15 years’ experience across architecture and development and over 3 years with Criterion. In his expanded role, he will lead across hotel development, design and brand evolution, while taking on greater responsibility for acquisitions, new business and future opportunities.

 

Vaqas Farooq, Chief Executive Officer, Criterion Capital, said: “Criterion has a rare energy about it. It is dynamic, tenacious and prepared to take on opportunities and challenges that many other real estate businesses would shy away from – and that was a huge part of what attracted me to the company. There is already an extraordinary platform here, but what excites me most is what we can build from it. We have the appetite to move quickly, think differently and take on complex opportunities with real conviction. I’m excited to work with the Criterion team as we continue to grow in the UK, expand internationally and scale the business for its next chapter.”