April 30, 2024
BALFIN Group Lands in Canada, New Real Estate Project in the Making

BALFIN Group is expanding its operational footprint by entering into the Canadian real estate market. Canada is the 11th country to join the Group’s map of operations, following the United States of America, and it is the fourth one where BALFIN is undertaking real estate development.

With a population of 39 million, Canada is well known for having a very active real estate market. Its growing population poses a significant need for additional housing in urban centers. BALFIN Group’s first project in Canada will be a €40 million, 27-unit townhome development in Vancouver, a bustling west coast seaport city in the British Columbia province. It is among Canada’s densest, most ethnically diverse cities and therefore one of the most dynamic real estate markets in North America.

Several other projects in the region are in the planning stage and are expected to begin in the next 18 months.

Steven Grunerud, Vice President of Strategy Development, responsible for the Group’s activities in Canada, says that the market is an excellent one for BALFIN to expand in. “With the Group’s knowledge and experience in residential development, I strongly believe that there will be a good exchange of knowledge and experience between both countries.  BALFIN is partnering with experienced developers that have proven track records in this sector.”

Read also: BALFIN Group establishes its activity in Switzerland

BALFIN Group began its real estate activities in 2003 in Albania, further on expanding its footprint in North Macedonia, Austria, and as of last year, the United States of America. With a portfolio of medium to large residential, commercial, tourist, and mixed-use projects, BALFIN is well-established in the industry as an international investor and developer, whose real estate footprint has had an impact in the industry and local economy.

This establishment represents the further expansion of the Group’s geographic area, thus making BALFIN one of the few truly international Albanian conglomerates.