Canada’s Condo King: The Billionaire Who Rebuilt Ottawa’s Skyline

Indian-Canadian businessman Bill Malhotra has built an empire in Canada’s real estate sector, earning him the title of ‘Condo King.’ As the founder of Claridge Homes, he has transformed Ottawa’s skyline with over 14,000 properties, including luxury condos, retirement homes, and residential developments.  

A Journey from Delhi to Canada  
- Born in Delhi, Malhotra pursued civil engineering at BITS Pilani before moving to Canada in 1971 at the age of 22  
- He initially worked in an engineering firm and later with the city government, gaining valuable insights into the real estate industry  
- In 1986, he established Claridge Homes, which went on to redefine Ottawa’s housing market with innovative living spaces  

Building an Empire  
- Claridge Homes has developed some of Ottawa’s most iconic properties, including Claridge Icon, a 469-foot-tall building that stands as the city’s tallest structure  
- Malhotra’s company has played a crucial role in shaping Ottawa’s urban landscape, catering to both luxury and affordable housing markets  
- His influence extends beyond real estate—he is also the owner of the Ottawa Senators hockey team and actively contributes to community development  

Net Worth and Financial Standing  
- According to Forbes, Malhotra’s net worth is approximately $2.3 billion (around Rs 19,205 crore), making him the richest Indian in Canada  
- Despite his immense wealth, he remains far behind Indian billionaires Mukesh Ambani and Gautam Adani in global rankings  
- His sons, Neil and Shawn, are minority owners of Claridge Homes, ensuring the family’s continued presence in Canada’s real estate sector  

Future Outlook and Industry Impact  
- Malhotra continues to expand his real estate portfolio, focusing on sustainable and high-end developments  
- His success story serves as an inspiration for Indian entrepreneurs looking to make a mark in international markets  
- As Canada’s housing market evolves, Claridge Homes is expected to remain a dominant force in shaping the country’s urban infrastructure  

Sources: DNA India, MSN News, Forbes.