About us
Malabar Hill Capital is a Houston-based commercial real estate development firm specializing in the ground-up development of neighborhood shopping centers across high growth Texas markets. With more than 50 years of combined experience, the firm has established a reputation for delivering high-quality projects through disciplined execution, thoughtful site selection, and institutional development standards.
Malabar Hill Capital’s strategy is centered on securing prime parcels of commercially zoned land within and adjacent to established and rapidly growing master-planned communities. These locations benefit from built-in customer bases, efficient infrastructure, and controlled development environments, key drivers of long-term stability and value creation.
Malabar Hill Capital operates with a merchant-builder approach, developing assets at cost, leasing to high-quality national and regional tenants, and exiting at market value. This approach supports shorter execution timelines while maintaining a focus on disciplined underwriting and risk-adjusted outcomes.
Mounang Desai MD MBA
Fo-Founder & Managing Partner
Mounang Desai is a physician, entrepreneur, and real estate developer with experience across clinical leadership, capital markets, and strategic development. As a founding physician of North Cypress Medical Center, he led executive initiatives and the delivery of ancillary real estate within surrounding master-planned communities.
As Co-Founder of Malabar Hill Capital, Mounang oversees debt and equity structuring, guiding disciplined capital deployment and institutional-quality ground-up shopping center development across high-growth Texas markets.
As Co-Founder of Malabar Hill Capital, Mounang oversees debt and equity structuring, guiding disciplined capital deployment and institutional-quality ground-up shopping center development across high-growth Texas markets.
Parvez “Chris” Merchant
Fo-Founder & Managing Partner
Parvez “Chris” Merchant is a Houston-based real estate developer with over three decades of experience across shopping centers, hospitality, and self-storage. He began his career on the tenant side, building and scaling a retail business—an experience that continues to inform his tenant-focused approach to development.
As Co-Founder of Malabar Hill Capital, Chris brings a hands-on, ground-up development mindset, overseeing projects from land acquisition through construction and lease-up to deliver high-performing commercial assets across high-growth Texas markets.
As Co-Founder of Malabar Hill Capital, Chris brings a hands-on, ground-up development mindset, overseeing projects from land acquisition through construction and lease-up to deliver high-performing commercial assets across high-growth Texas markets.
Why We Focus on Retail Development
We specialize in neighborhood shopping center developments, which generate stable income and high growth potential through:
Long-Term Leases
National and regional tenants sign multi-year leases, ensuring reliable cash flow.
Lower Operating Costs
Triple Net (NNN) lease structures pass property expenses (taxes, insurance, and maintenance) onto tenants, protecting investor returns.
Consistent Cash Flow Growth
Contractual rent increases drive long-term value appreciation.
Hands-Off Management
NNN leases reduce landlord responsibilities, making these investments highly efficient.
High-Traffic Locations
Our projects are positioned in thriving communities with strong retail demand and limited competition.