PROFILE
Empire’s real estate business includes commercial and residential property operations. Our commercial real estate operations are focused on the development of food-anchored shopping plazas through a 100 percent ownership interest in ECL Developments Limited and ownership of retail and office properties through a 47.4 percent ownership interest in Crombie REIT. The focus of our residential operations is on land development, predominantly through a 35.7 percent ownership interest in Genstar Development Partnership.
COMPETITIVE STRENGTHS
Our knowledge, experience and management strength in real estate.
The close working relationship with Sobeys and Crombie REIT that enables Empire
to optimize the development of food-anchored shopping plazas across Canada.
The preferential development agreement between our commercial real estate
division and Crombie REIT. This agreement reduces risk and enhances opportunities
for both businesses.
Our residential property operation, through Genstar, has attractive land holdings primarily in Western Canada and a proven, experienced management team.
KEY PERFORMANCE INDICATORS
STRATEGIC PRIORITIES
Real estate development at Empire is focused on establishing both certainty and
a healthy pace of growth for Sobeys and Crombie REIT. Our strategy rests firmly
on Sobeys’ substantial in-house expertise in selecting commercial locations, ECL Developments’ property development capabilities and Crombie REIT’s operational excellence. At all times we are guided by criteria that exemplify Empire’s investment discipline and tradition of building assets to own for the long-term.
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Investor Kit