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Canadian property developer open to more Asian partnerships

By Karl Cryer
-    Feb 20, 2015
Credit : GMI Post

Easton’s Group is preparing to unveil several new condominium projects in Canada following its successful foray into residential property development with its King Blue Condominiums in downtown Toronto, after over three decades of managing hotels.

 

Easton's Group runs Toronto's top hotel brands, including the Hilton and Marriott. Photo Credit: Easton's Group

President and CEO Steve Gupta said: “People think it’s a completely different business. But we look at (condominiums) as a hotel away from home, and now we’re just building a permanent housing for our guests. So for us, it was natural progression.”

Shanghai-based multinational Greenland Holding Group Co. made a major investment in the Canadian real estate sector through its acquisition of the King Blue Condominiums from the Easton’s Group and The Remington Group last year.

The Easton’s Group is in the process of rebranding itself as the Gupta Group, in recognition of company founder Steve Gupta, who helped shape the private company’s growth and development in the last 35 years.  Gupta, an Indian immigrant, took what was initially a one-person operation and turned it into one of the most successful companies in the Greater Toronto area.

The company has not stopped pursuing opportunities to expand its property portfolio.

Gupta also said: “We have three major projects, including one project we sold to a giant Chinese company in Greenland Holdings last year, who came knocking on our door wanting a trophy project in Toronto.”

In its nearly four decades of operations, Easton’s Group has won various awards year-after-year, including the Marriott Full House Award in 2012 and Expedia Excellence Award as a Top Hotel in 2013.

With 15 hotels, the company has become a dominant force in Ontario’s hospitality and service industry. Its flagship properties include the luxury brands Hilton and Marriott.

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