Issued through the Chair of the Provincial-Territorial Forum on Housing, Minister Responsible for Saskatchewan Housing Corporation Gene Makowsky, on behalf of all Provincial-Territorial Ministers Responsible for Housing

REGINA, Saskatchewan–(BUSINESS WIRE)–Provinces and territories (PTs) are calling on the federal government to increase funding in a long-term, flexible, and collaborative manner to support the delivery of affordable housing programs both now and into the future.

Communities across Canada continue to face elevated home prices, increased rates of homelessness, and challenges related to housing affordability, adequacy, and supply. Rising costs in the construction industry have also significantly increased the cost to build and repair homes. While these challenges have strained PT resources, PTs remain committed to working with the federal government to maintain and expand affordable housing in their jurisdictions.

The Parliamentary Budget Officer estimates that the federal government will spend $45.9 billion over ten years on housing until the end of Canada’s National Housing Strategy in 2027-28 in new and pre-existing spending. In comparison, PT governments have invested approximately $20.1 billion over the last four years in housing, including building new homes, making improvements to existing affordable housing, providing services and supports to keep people in their homes, and addressing homelessness.

PTs are on pace to surpass federal investments in affordable housing by the end of the National Housing Strategy in 2027-28. While the federal National Housing Strategy has been marketed as a “$82+ billion plan”, this figure includes both loans and cost-matched spending by PTs, neither of which are true costs to the federal government. In addition, federal funding supports often lack operational funding to keep housing viable after it is built, leaving PTs and other housing partners responsible for ongoing costs.

PTs are the largest providers of affordable housing in Canada. With their understanding of local needs and circumstances, PT governments are best positioned to identify and allocate funding to areas that will have the greatest impact. PTs call on the federal government to work with them and provide financially sustainable and flexible funding that is responsive to local needs.

To support better outcomes on the funding and delivery of affordable housing, PTs request:

• Increased and more flexible federal funding to complement existing PT programs and address local priorities to meet Canada’s current housing challenges.
• Meaningful and proper engagement to develop housing solutions and outcomes that meet the unique needs and priorities of each jurisdiction.

Accessing affordable housing is a challenge for many Canadians. PTs welcome improved collaboration, greater flexibility, and increased funding, which will enable them to respond to this growing need.

Contacts

The Provincial-Territorial Forum on Housing

For media inquiries:

Hunter Baril

Alberta Seniors, Community and Social Services

Hunter.Baril@gov.ab.ca

Clay Suddaby

Communications and Public Engagement, British Columbia

Clay.Suddaby@gov.bc.ca

Communication Engagement Division

Manitoba

newsroom@gov.mb.ca

Robert Duguay

Corporate Communications, New Brunswick Social Development

robert.duguay@gnb.ca

Jenny Bowring

Newfoundland and Labrador Housing Corporation

jmbowring@nlhc.nl.ca

Krista Higdon

Nova Scotia Ministry of Municipal Affairs and Housing

krista.Higdon@novascotia.ca

Tami Johnson

Housing Northwest Territories

tami_johnson@gov.nt.ca

Eric Doiron

Nunavut Housing Corporation

edoiron1@gov.nu.ca

Victoria Podbielski

Ontario Ministry Municipal Affairs and Housing

victoria.podbielski2@ontario.ca, mma.media@ontario.ca

Rebecca Gass

Prince Edward Island Department of Social Development and Housing

rjgass@gov.pe.ca

Media Relations

Société d’habitation du Québec

​medias@shq.gouv.qc.ca

Media Relations

Saskatchewan Ministry of Social Services

mediamss@gov.sk.ca

Laura Lang

Yukon Housing Corporation

Laura.Lang@yukon.ca

Not for distribution to U.S. News Wire Services or dissemination in the United States.

TORONTO–(BUSINESS WIRE)–#valueforgenerations–Choice Properties Real Estate Investment Trust (“Choice Properties” or the “Trust”) (TSX: CHP.UN) announced today that it has completed its previously announced issuance, on a private placement basis in certain Provinces of Canada (the “Offering”), of $550 million aggregate principal amount of series S senior unsecured debentures of the Trust bearing interest at a rate of 5.400% per annum and maturing on March 1, 2033 (the “Debentures”).

The Trust intends to use the net proceeds of the Offering (i) to repay upon maturity its outstanding $250 million aggregate principal amount of 3.196% series G senior unsecured debentures due March 7, 2023, (ii) to repay all or a portion of the balance drawn on the Trust’s credit facility, and (iii) for general business purposes.

DBRS Morningstar has provided the Debentures with a credit rating of “BBB” (high) with a “stable” trend and S&P Global Ratings has provided the Debentures with a credit rating of “BBB”. The Debentures rank equally with all other unsecured indebtedness of the Trust that has not been subordinated.

The Debentures were sold on an agency basis by a syndicate of agents co-led by TD Securities, BMO Capital Markets, RBC Capital Markets, CIBC Capital Markets and Scotiabank. The Debentures offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Debentures in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Choice Properties Real Estate Investment Trust

Choice Properties is a leading Real Estate Investment Trust that creates enduring value through the ownership, operation and development of high-quality commercial and residential properties.

We believe that value comes from creating spaces that improve how our tenants and communities come together to live, work, and connect. We strive to understand the needs of our tenants and manage our properties to the highest standard. We aspire to develop healthy, resilient communities through our dedication to social, economic, and environmental sustainability. In everything we do, we are guided by a shared set of values grounded in Care, Ownership, Respect and Excellence.

For more information, visit Choice Properties’ website at www.choicereit.ca and Choice Properties’ issuer profile at www.sedar.com.

Forward-Looking Statements

This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects Choice Properties’ current expectations regarding future events, including the expected repayment of the maturing debentures and the intended use of proceeds of the Offering. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Choice Properties’ control that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed in Choice Properties’ 2022 Annual Report and current Annual Information Form. Choice Properties does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. All forward-looking statements contained in this press release are made as of the date hereof and are qualified by these cautionary statements.

Contacts

Mario Barrafato

Chief Financial Officer

Choice Properties Real Estate Investment Trust

t (416) 628-7872

e Mario.Barrafato@choicereit.ca

• Plans to further speed up the expansion process in becoming the No. 1 jewellery retailer globally
• Immediate expansion plans into the UK, Bangladesh, Australia, Canada, Egypt, Turkey, and South Africa.
• Dallas store is the 300^th global showroom of Malabar Gold & Diamonds

DHAKA, Bangladesh–(BUSINESS WIRE)–#Gold–The grand inauguration of the 300^th global showroom of Malabar Gold & Diamonds, the 6^th largest jewellery retailer globally with a retail network of 300 showrooms across 10 countries, was held in Dallas, USA.

Ms. Susan Fletcher, Collin County Commissioner and Mr. Jeff Cheney, Mayor of Frisco, Texas, jointly inaugurated the showroom in the presence of Mr. Shamlal Ahamed, Managing Director – International Operations. The event was virtually attended by Mr. M. P. Ahammed, Chairman, Malabar Group; Mr. KP Abdul Salam, Vice-Chairman, Malabar Group; Mr. O Asher, Managing Director – India Operations, other team members, well-wishers and dignitaries.

“It is a moment of great pride for us as we touch the 300^th mark with this new showroom in Dallas, USA. We started off with a small showroom in Calicut, Kerala, India and today, in less than 30 years, we have a strong retail presence of 300 showrooms across 10 countries; all thanks to our customers, shareholders, employees and other stakeholders. We will continue to strengthen our retail presence in the regions where we have established a robust presence, as well as enter new markets with our differentiated products, services and assurances. The acceptance and patronage received by the brand gives us the confidence to further speed up the expansion process in becoming the No: 1 jewellery retailer globally,” said Mr. M. P. Ahammed, Chairman, Malabar Group.

Malabar Gold & Diamonds currently operates in 10 countries and has immediate expansion plans into the UK, Bangladesh, Australia, Egypt, Canada, Turkey, South Africa. The future expansions are expected to create approximately 6,000 job opportunities in the retail, manufacturing, technical and management areas related to jewellery trade.

Malabar Gold & Diamonds is renowned globally for offering an unparalleled jewellery buying experience with convenience, and customer-friendly policies along with the ‘Malabar Promise’ of incomparable quality and service assurance. Malabar Promise includes assured lifetime maintenance from any of the showrooms across 10 countries, guaranteed buyback, IGI and GIA-certified diamonds ensuring 28-point quality check of global standards, zero deduction gold exchange, complete transparency, 916 hallmarked pure gold, responsible sourcing, fair price policy and fair labour practices.

The showroom in Dallas has a stunning display of more than 30,000 jewellery designs from 20 countries across gold, diamonds, precious gems and platinum, catering to the design preferences.

Malabar Group believes that the most successful companies are those which integrate responsibility and sustainability into their core business and commit 5% of their profit to support socially responsible purposes both India and abroad, since its inception in 1993.

Contacts

Media Contact:
Name: Ganesh Somwanshi

Contact: +91-77388 91198

Email ID: ganesh@bloomingdalepr.com