Search for "real estate"

Displaying 1-5 of 5 results
timeline event

Money Laundering in BC Raised Home Prices by 5 Per Cent, Study Finds

An independent study found that $47 billion was laundered in Canada in 2018, with $7.4 billion in BC alone. It also estimated that $5 billion was laundered through the BC real estate market, and that this raised the cost of buying a house by at least 5 per cent. The study was conducted by an expert panel led by former BC deputy attorney general Maureen Maloney.

timeline event

Money Laundering in BC Estimated at $1 Billion A Year

An international report and a second completed by the RCMP both estimated the amount of money laundered through BC real estate to be more than $1 billion per year — contradicting an earlier federal government report that pegged it at $200 million per year. BC Attorney General David Elby expressed shock and dismay at not receiving accurate information directly from the federal government. “It's those information gaps that organized crime thrives in and we need to do a better job between our governments,” he said.

Article

Stephen Smith

Stephen J. R. Smith, financial services entrepreneur, civic leader, philanthropist (born 2 June 1951 in Ottawa, ON). Stephen Smith is a successful entrepreneur in the financial services industry. He is co-founder, chairman, president and CEO of First National Financial LP, Canada’s largest non-bank mortgage lender, as well as chairman and co-owner of the Canada Guaranty Mortgage Insurance Company, Canada’s third largest mortgage insurance provider. He is also involved in the administration of cultural organizations such as the Royal Ontario Museum, Rideau Hall Foundation and Historica Canada — publisher of The Canadian Encyclopedia — where he has been chair of the board of directors since 2009. The business school at his alma mater, Queen’s University, was named in his honour after his record $50 million gift to the university in 2015. He is a Companion of the Canadian Business Hall of Fame (2019). A licensed pilot, he is renowned among friends and associates for his daredevil approach to his favourite sports, which include heli-skiing and long-distance cycling. As Charles Brindamour, president and chief executive officer of Intact Financial Corp. has said, “Stephen is a force of nature.”

Article

Irving Group of Companies

Companies owned by New Brunswick’s Irving family dominate the province’s natural resource industries, as well as its media, engineering and construction industries. The first Irving business was a sawmill purchased in 1881. The family now owns many companies that supply each other from different steps in the chain of production. These companies largely fall under four umbrellas: J.D. Irving Limited (whose many segments include forestry, food, construction and transportation), Brunswick News (newspapers), Irving Oil (oil refining and marketing) and Ocean Capital Holdings (real estate, radio, construction and materials). The Irving family owns Canada’s largest oil refinery, is one of the five largest landowners in North America, and employs 1 in 12 people in New Brunswick. It is one of the wealthiest families in Canada.

Article

George Weston Limited

George Weston Limited is one of North America’s largest processors and distributors of food. The company operates three subsidiaries: Loblaw Companies Limited, a grocery, drugstore and general retailer; Weston Foods, a baking company; and Choice Properties, a real estate investment trust. George Weston Ltd. owns a variety of brands and retail banners. Loblaw brands include No Name, President’s Choice, Life Brand and Joe Fresh. Loblaw stores include Loblaws, Zehrs, Your Independent Grocer, Provigo, Atlantic Superstore, Fortinos, Dominion, Independent City Market, Valu-mart, ARZ Bakery, Wholesale Club, T&T Supermarket, Real Canadian Liquorstore, Real Canadian Superstore, No Frills, Maxi, Extra Foods and  Shoppers Drug Mart. In 2020, George Weston Ltd. registered $54.705 billion in revenue and $919 million in profit and held assets valued at $48.075 billion. George Weston Ltd. Is the country’s largest private-sector employer, with over 200,000 full- and part-time employees. It is a public company headquartered in Toronto and listed on the Toronto Stock Exchange under the symbol WN.