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Real Estate Makes Canadian Business 500

Written by Posted On Tuesday, 29 July 2003 00:00

According to Canadian Business Magazine: "For the second year in a row, precious metals/mining stocks led the rankings, capturing nine of the top 10 spots. If you invested in sectors such as energy and real estate, you also may have seen some impressive gains."

In a Special Issue entitled "The Top 500 Stocks in Canada" , Calgary-based Genesis Land Development Corp. , the only real estate sector company listed in the top 100 companies, was ranked at number 63 in the "Investor 500" list. Genesis was identified as the top performing company in the real estate sector, based on a one year return of 43.84%. The article also quoted a three-year return of 141.38%, based on figures obtained on April 4, 2003.

Gobi Singh, President and CEO of Genesis, comments, "We are pleased to see that our hard work and substantial progress in building Genesis as a major real estate force in the Calgary metropolitan area is starting to be recognized in the marketplace. However, Genesis is just beginning to demonstrate its financial growth, with the development and sale of 1,500 lots in the past three years. In 2003, we expect to develop and sell approximately 1,000 lots, sustaining approximately 1,200 annual lot sales over the next decade from our large existing land inventory, assuming current market demands are sustained."

Genesis Land Development Corp. is a Calgary-based land development company with an inventory of more than 17,000 future residential building sites and over 300 acres of commercial/industrial lands in Western Canada, with the bulk of its real estate located in the Calgary metropolitan area.

Although recognition by Canadian Business is an achievement, investors are cautioned about acting on this acknowledgement alone. "The Corporation's line of business involves risk, uncertainties and other factors (including how many residential sites will actually sell) which may cause actual results, performance or achievements of Genesis to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements."

A note on Canadian Business methodology in compiling the "Investor 500": They ranked Canada's largest companies (as measured by market cap on May 3) by one-year return. Ties were broken by three-year return; companies with a three-year return were given priority over those without. The "Investor 500" ranking was compiled by researchers Geoffrey White, Mark Brown and Adam Basquill, with the help of research associate Miguel Rakiewicz, using Bloomberg and other sources.

A few other real estate companies made it into the top 200, including Brookfield Properties Corp. (#162) which narrowly missed financial disaster when it lost out in the bidding on New York's World Trade Centre towers, months before the terrorist strike that destroyed the complex. Also in the top 200 were Dundee Realty Corp (#120), Wall Financial Corp. (#140), BPO Properties Ltd. (#151) and Willmington Capital Management Inc. (Unicorp) (#172).

If you can't afford to buy real estate as an investment, consider investing in real estate stocks. The same due-diligence rules apply, but at least you'll be able to see what you're investing in.

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