Latest news with #commercialproject
CTV News
10-07-2025
- Business
- CTV News
$200 million development in LaSalle
Windsor Watch LaSalle is seeing a $200 million commercial project being built. CTV Windsor's Bob Bellacicco checks it out.
CTV News
10-07-2025
- Business
- CTV News
LaSalle celebrates the groundbreaking of massive $200 million commercial development
LaSalle is seeing a $200 million commercial project being built. CTV Windsor's Bob Bellacicco checks it out. There was no hiding how LaSalle mayor Crystal Meloche felt Thursday morning at the site of a massive $200 million development. 'So excited to finally be the day we're breaking ground and, hopefully, in less than a year we will be cutting ribbon,' Meloche said at the official groundbreaking ceremony for the town's largest ever commercial project. 'We're seeing so many different things coming to the site. There's a possibility of the hotel. There's a possibility of a gas bar. There's the grocery store. There's banking. There's Shopper's (Drug Mart). There's restaurants. You name it, it'll all be here,' she said. The D'Amore Group and Petretta Construction have partnered on the commercial development near the Windsor Crossing Outlet Mall. Work will be spaced out over two phases. 'You're going to see a couple of things hopefully open before the end of the year but the majority of the things here in, I'll call it phase 1A, will be opening in the spring of next year,' said Scott D'Amore, president of The D'Amore Group. When The Shoppes at Heritage is complete, D'Amore said it will be the crown jewel of the 280-acre development. The 24-acre site that is under development will house over 250,000 square feet of commercial and hospitality space and create over 400 jobs. Hundreds of jobs have and will be created on-site throughout the duration of the project which is expected to carry over into 2027. 'It truly is the type of project that can transform a community,' D'Amore noted. D'Amore believes, despite the uncertainty of U.S. tariffs, the project will come in on budget because everyone involved in the project is doing their best to work together to be as cost effective as possible. 'There's things currently that are being stored that we're not going to need for six months that we normally wouldn't have purchased for six months, but the price was right,' D'Amore explained. 'We could lock it in, we could adjust it like we talked about it, maybe the vendor eats a point or two, maybe we eat a point or two, but we deliver that end product at an agreeable cost.' LaSalle Shoppes at Heritage ground breaking LaSalle breaks ground at the site of The Shoppes at Heritage in LaSalle, Ont. on July 10, 2025. (Bob Bellacicco/CTV News Windsor) The town's first McDonald's is set to be an early opener with Food Basics, Dollarama, Taco Bell, Pet Valu, and Shopper's Drug Mart also making commitments to the development with others waiting in the wings. D'Amore feels having big name companies interested in their project in LaSalle has helped and will help commercial properties near and far. 'I think you're going to see whether it's across the street and our neighbors at Windsor Crossing, start to get more of a tenant mix or whether you see it other places in Windsor, Essex County,' said D'Amore. 'I think the fact that people have now dug in and looked into Windsor, they're hopefully going to see, I believe they're going to see that we got a market worth investing in.' The development will feed an area in town that is under-serviced and growing. 'We are going through that Howard-Bouffard Secondary Plan where we're going to see the town grow by another 20,000 plus people and this location is very close to where that development will be, so that'll provide those residents with groceries and food options close to home.' Meloche said.
Zawya
07-07-2025
- Business
- Zawya
Drake & Scull enters Dubai's real estate market with commercial project
Dubai-based contractor Drake and Scull International (DSI) has acquired a land plot in Majan master development in the emirate to develop a mixed-use commercial project. DSI will take full ownership of the development process, from concept to completion, the company said in a statement to the Dubai Financial Market on Monday. The project will have more than 156,000 square feet ( sq ft) of built-up area, including more than 10,000 sq ft of retail space on the ground floor and over 67,000 sq ft of office space across nine floors. The three-level podium parking will accommodate nearly 147 vehicles. Soil investigations and topographic surveys have been completed, the statement said. Bel-Yoahah Architectural and Engineering Consultants will handle end-to-end design and supervision. DSI is currently finalising approvals to commence construction with an expected completion date by the end of 2026, the statement added. No financial details were given. (Writing by P Deol; Editing by Anoop Menon) ( Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
Zawya
02-06-2025
- Business
- Zawya
FABMISR leads $85mln syndicated loan for Redcon Properties' Golden Gate project
First Abu Dhabi Bank Misr (FABMISR), the Egyptian subsidiary of UAE-headquartered First Abu Dhabi Bank (FAB), announced on Monday that it has led a syndicated loan of 4.2 billion Egyptian pounds ($85 million) to support the development of Redcon Properties' Golden Gate commercial project in New Cairo. FABMISR served as the initial mandated lead arranger, bookrunner, facility agent, security agent, and account bank for the financing transaction. The syndicate also included Al Baraka Bank Egypt and Abu Dhabi Commercial Bank (ADCB) as mandated lead arrangers, while Arab Bank and Emirates NBD Egypt participated as lead arrangers. The legal counsel for the lenders was provided by Matouk Bassiouny & Hennawy. Redcon Properties laid the foundation stone for Golden Gate in February 2022. A press statement issued by FABMISR said the financing facility, initially targeted at EGP 3.5 billion ($71 million), was oversubscribed 1.2 times, triggering the Greenshoe Option to increase the facility size to EGP 4.2 billion. Structured as a revolving credit facility over 3.5 years, the loan will cover part of the first phase investment cost of EGP 24.3 billion ($489 million). Phase 1 will have 178,000 square metres (sqm) of built-up area. (Writing by Eman Hamed; Editing by Anoop Menon) (
