New leadership and management departures at Parallel Real Estate Ventures

Second Kintyre Holdings (JA) subsidiary to undergo leader changes in two months

Durrant Pate/Contributor

Kintyre Holdings (JA) has announced another leadership change at another one of its subsidiaries, Parallel Real Estate Ventures with the immediate departure of its two Co-CEOs.

Randy Mattis and Seretse Bell have both resigned as Co-CEOs, effective immediately, according to Kintyre Holdings (JA) President and CEO as well as Chairman of Parallel Real Estate, Tyrone Wilson. However, Mattis will remain as a key shareholder in Parallel and will serve on various board committees in the company.

He continues to be the lead on the company’s Chalet Real Estate Development. In the meantime, the leadership reins of Parallel Real Estate have been transitioned to a new executive team, as part of a strategic management and growth partnership. 

This move, Wilson says, “places the leadership of the business in the hands of seasoned international experts designed to expand the company’s operational capacity and market reach.“

Incoming management team

To this end, American citizen and former Tesla team member, Edwin Xiao has been appointed as President & CEO of Parallel Real Estate. He is joined by Dane Fairweather, also American with Jamaican decent and also of Tesla, who takes the lead as Chief Operations Officer.

The new leadership, Wilson contends, “brings deep institutional knowledge and a proven track record from major global markets and prestigious institutional networks. Edwin Xiao offers over 15 years of experience in real estate development, infrastructure, and energy, with a career that includes serving on the executive board for the Staten Island Ferry Terminal under the New York City Economic Development Corporation during the Bloomberg administration.”

He has also managed hotel construction for Marriott and multifamily residential developments as Head of Construction Management for United Construction & Development, founded a large-scale housing platform serving graduate communities affiliated with institutions such as Yale University, Columbia University, and SKEMA Business School. 

Leadership credentials

He emphasises that Fairweather complements this background with expertise in infrastructure modernisation, regulatory governance, and MEP (Mechanical, Electrical, and Plumbing) systems. 

The Group President and CEO argues, “This leadership takeover connects Parallel to a vast global engineering and informatics ecosystem spanning North America, Europe, and Asia. This network includes high-rise structural engineering expertise in Manila, project coordination teams in Hungary and Estonia, and professional engineering and contracting licenses in multiple U.S. states.”

Wilson reports, “Under this new leadership, Parallel is positioned to scale strategically through renewable energy partnerships, technology integration, and regional business development across the Caribbean. This strategic partnership aligns with Kintyre Holdings’ vision of building globally connected businesses capable of driving innovation and sustainable economic development

For his part, Xiao comments, “What Tyrone has built at Kintyre is rare, a Jamaican investment holding company with the ambition and capital structure of a regional player. Stepping into Parallel alongside Dane, our job is to match that ambition with execution and monetise the over US$10M of real estate assets the company currently owns.”

Continuing, Xiao remarks,“Parallel already holds approximately US$10 million in Net Asset Value and has over US$30 million in projects lined up. The foundation is strong, and our mandate now is to monetise these assets and build out the portfolio even more.”