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ORONTO, October 03, 2024--(BUSINESS WIRE)--BLG Group, a US-based investment fund, has formed a groundbreaking partnership with Verona Real Estate Group to revolutionize Ontario's real estate landscape. The collaboration will see BLG commit $1.2 billion over the long term towards five landmark developments, with an estimated exit value exceeding $3 billion. This strategic move leverages Canada's thriving $2 trillion economy, one of the most stable and promising markets globally.

    The partnership aims to redefine urban living through sustainable and innovative communities across Southern Ontario and the Eastern United States. BLG Group will provide the necessary funding, while Verona Real Estate Group will lead development, design, and construction efforts. Together, they aim to deliver world-class living spaces that cater to evolving resident needs, setting new standards for real estate development in North America.

    Ajay Dubey, CEO of BLG Group, expressed enthusiasm about the partnership: "This collaboration marks a pivotal step in our strategy to expand into North America's booming real estate sector. We chose Verona Real Estate Group for their expertise in finance, capital markets, and risk management, as well as their Canadian and global experience."

    Asif Khan, CEO of Verona Real Estate Group, shared his excitement: "This partnership is about reshaping urban living experiences. Partnering with BLG Group unlocks extraordinary potential, combining our commitment to sustainable development with their financial resources." Both companies are confident that their combined expertise will bring lasting value to the communities they serve, transforming the real estate landscape in Ontario and beyond.