MONTREAL — Quebec-based developer Groupe HD Immobilier has announced the acquisition of Praxis Construction, which was effective Jan. 1.
A recent statement said Groupe HD Immobilier and Praxis decided to join forces to ensure a stronger link between development and construction operations.
Montreal-based Praxis is a general contractor specializing in high-density residential building. The firm will be in charge of project and site management for all upcoming Groupe HD Immobilier projects.
Groupe HD Immobilier specializes in the investment, development, construction and management of residential real estate projects and to date has been a part of more than a dozen projects totalling more than 3,000 residential units.
“Nowadays, one of the most effective ways to react to unforeseen market events is to integrate business lines,” stated Groupe HD Immobilier co-president Thomas Dufour in a statement. “This acquisition fits perfectly into our mandate with our partners and clients.”