Groupe HD Immobilier signs a strategic acquisition with Praxis Construction for the launch of HD's construction division

MONTRÉAL, Feb. 1, 2023 /CNW Telbec/ - Groupe HD Immobilier, a real estate developer with an established reputation in Québec, is proud to announce the acquisition and integration of Praxis Construction, effective January 1, 2023.

The residential construction industry has been particularly impacted over the past few years, and general contractors have had to be vigilant and rigorous in order to provide quality homes while respecting construction schedules and costs. With this in mind, Groupe HD Immobilier and Praxis have decided to join forces to ensure a stronger link between development and construction operations.

As a general contractor specializing in high-density residential building, Praxis Construction will be in charge of project and site management for all upcoming Groupe HD Immobilier projects. Praxis's expertise is a major asset for the coordination and management of the entire construction process.

"This partnership is about performance and efficiency, and I am very pleased that we are becoming a division of Groupe HD Immobilier," says François Beaulieu, Eng., MBA, CPA, President of Praxis Construction. "This merger of our areas of expertise will make us more efficient and, in turn, more competitive in the marketplace."

For Groupe HD Immobilier, the acquisition represents an important competitive advantage that will allow them to offer integrated and efficient service to all their partners and, above all, ensure optimal financial and operational rigour.

"Nowadays, one of the most effective ways to react to unforeseen market events is to integrate business lines," notes Thomas Dufour, CPA, CFA, M.Sc., Co-President of Groupe HD Immobilier, adding: "This acquisition fits perfectly into our mandate with our partners and clients."

With several projects under development, this union will enable Groupe HD Immobilier to add an important component to its business activities and position the group among Greater Montréal's most influential and active developers. Merging the two entities will also allow for greater transparency of operations with partners and investors.

Groupe HD Immobilier welcomes the Praxis Construction team!

Groupe HD Immobilier is a Québec-based company that specializes in the investment, development, construction, and management of residential real estate projects. To date, the company has been a part of more than a dozen projects totalling more than 3,000 residential units, including condominiums as well as multiresidential rental properties, and has raised more than $100 million in equity, along with over $400 million in financing. Focused on actively contributing to the expansion of the Greater Montréal housing market, Groupe HD Immobilier strives to create attractive, lively, and integrated living environments that exceed the community's expectations.
groupehdimmobilier.ca

As a general contractor specializing in residential construction, Praxis Construction manages and coordinates large-scale projects. Praxis's expertise is aimed at optimizing the construction process and operations while ensuring sound cost- and time-management. With a wealth of experience, the company's president has been involved in the management of projects worth over $450 million and the construction of more than 2,500 residential doors. The company is recognized and appreciated for the rigour of its operations and the quality of its worksites.
praxisconstruction.net

For more information, please contact:

Isabelle Drolet, Director, Marketing and Communications
Groupe HD Immobilier   

1751 Richardson St., Montreal, Suite 5.109, H3K 1G6
514 775-4758
[email protected]
groupehdimmobilier.ca

SOURCE Groupe HD Immobilier