South Asian Home Show Draws A Crowd

Original Publication Date: Saturday, March 20, 2004 - Toronto Star

RAHEEL RAZA
SPECIAL TO THE STAR

A builder's plan to market a downtown condo to different ethnic communities paid off with close to 400 people showing up for a recent event at DNA (Downtown's Next Address) on King St. W.

The South Asian community is a new target market for Canderel Stoneridge, which has been successful with the strategy of marketing to specific groups. Canderel worked with the Web site MyBindi to create a home show targeted to young South Asian professionals earlier this month.

"I believe we created an awareness in the South Asian community that buying is better than renting," said Riz Dhanji, marketing director for Canderel Stoneridge.

He added that for this group of young professionals, owning real estate is preferable to renting.
"In the South Asian community, and being South Asian as well, my whole family has invested in real estate," said Dhanji. "I said, `why don't we target this market?'"

Dhanji said five units sold during the event which featured seminars on mortgage planning, home design and décor, and tips for home entertaining.

Exhibitors displayed exotic textiles, hand-carved furniture and carpets. There were also several cooking demonstrations.

Construction has started on phase 1 of DNA, which is 80 per cent sold. Occupancy is slated for May, 2005. Phase 2, which is targeted for completion in November, 2005, is more than 60 per cent sold.

Original Publication Date: Saturday, March 20, 2004