Article Excerpt:
TWST: What is Genesis Land Development Corp.?Mr. Singh: Genesis is a TSX-listed land development company with a building division that has been started recently. Genesis was started by myself and Arthur Wong, who is the other major shareholder in the company. We are both Professional Engineers with extensive business experience. Genesis was founded in 1992 with a small land base and over the last decade has evolved to become one of the largest land developer's in the Calgary area
TWST: Give us an idea of what the business environment is for you and
where your geographic focus is.
Mr. Singh: Firstly, our geographic focus is in the greater Calgary area
and this is where our head office is as well. The economic conditions in
Calgary are very strong. This strength is based on a diversified economy
comprised of oil and gas, high tech, warehousing and distribution and
head offices. Calgary prides itself of being the second largest head
office center in Canada next to Toronto. The provincial government has
demonstrated great fiscal management and today Alberta prides itself for
being debt and deficit free. Genesis builds recreationally oriented
communities. The recreational orientation is achieved by building lakes,
pathways, developing forested areas, while maintaining environmental
friendliness. Our inventory consists of 14,000 to 16,000 and would
probably last us eight to 10 years. We also have a significant land base
in British Columbia amounting to 1,800 acres. This land base,
representing about 5,000 lots, would also be under development over the
next few years.
Tickers included in this excerpt: GDC:TSX
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