EDMONTON, Alberta , May 08, 2019 (GLOBE NEWSWIRE) — Melcor Developments Ltd. (TSX: MRD), an Alberta-based real estate development and asset management company, today reported results for the quarter ended March 31, 2019. Revenue for the quarter was $34.88 million, down 21% over Q1-2018. Lower sales in the Community Development division led to a 53% decrease in divisional revenue. Investment Properties revenue grew by 27% over Q1-2018 as a result of new transfers from the Property Development division and third party acquisitions, which led to 27% growth in owned gross leasable area.