NRI cracks the realty code in Canada
Bob Dhillon’s Mainstreet Equity sees 92% rise in its share price in one year.
A Non-resident Indian (NRI) has carved his niche in the real estate sector in Canada as his company has registered a 92% increase in its share price in the last one year.
Mainstreet Equity, owned by an NRI Bob Dhillon, is a publicly traded company which has seen its share price grow from $41 to over $79 in 2019, a gain of 92%. Mainstreet is one of the topperforming real estate companies in Canada, which has shown consistency in growth.
At the conclusion of 2019, the company posted 20 years of annual compounded double-digit growth. It has become a disruptor as it continues to outperform the competition. Currently, Mainstreet owns and operates over 13,000 apartments throughout Western Canada and continues to acquire assets and grow the portfolio.
Dhillon has roots in Punjab. His family originates from Tallewal in the Barnala district of Punjab. After being born in Japan, he attended the Bishop Cotton School in Shimla before immigrating to Canada. Bob Dhillon is the president, CEO and majority shareholder in Mainstreet Equity.
Founded in 2000, Mainstreet has created a business model around investing in mid-market rental properties. After acquiring distressed properties Mainstreet repositions the asset, fine-tunes operational efficiencies and then provides comfortable and wellmanaged rental housing to residents, a process Dhillon coins “The Mainstreet Value Chain”.
“Over the company’s 20year lifespan, the add-value business model has stayed fairly consistent. Mainstreet’s approach to the mid-market multi-family rental business has been the driver of the company’s success. We see opportunity which other businesses overlook, finding ‘diamonds in the rough’ and overhauling assets below replacement cost. As the business continues to move the needle, our position in the real estate sector has room for growth as the company continues to disrupt the marketplace,” said a company official.
As the organisation looks to the future, it plans to continue its opportunistic acquisition strategy.
Bob Dhillon continues to be bullish on Western Canada as he sees the opportunity in the market and the influx of immigration to the region as a key driver of the company’s future success.