IHA Canada Appoints Industry Veteran Asif Khan as CEO to Complete the $900 Million Retirement Master Community Construction Near Ottawa

OTTAWA, Ontario--(BUSINESS WIRE)--The Board of Directors at IHA Canada (Innovative Housing Alternatives) announced the appointment of Asif Khan as CEO, Effective May 23, 2023. IHA’s Glengarry Hills Village is an innovative 54-acre land project set for construction in Alexandria, Ontario, located close to Canada’s capital city of Ottawa.

This state-of-the-art project located in the village of Alexandria, nestled within a short commute to Ottawa and Montreal, Glengarry Hills Village is conceptualized and designed to redefine retirement living.

Asif Khan brings 25+ years of extensive experience in Capital, Financial, and Real Estate Markets, making him a successful entrepreneur with exceptional vision. Currently Asif is the head of Verona Real Estate Group, renowned for its global reach in capital and real estate markets, and CEO of Skymark Management Corporation, Asif spearheaded regulated structures to focus on Shariah and ethical investors seeking investments in the real estate sector.

"We are excited to welcome Asif as the new leader of IHA Canada and celebrate the successful completion of Glengarry Hills Village, a project that began four years ago. I had the privilege of working with Mr. Khan in the early 2000s in finance and eagerly anticipate our collaboration once more. Under Asif's visionary leadership, our team will pioneer an industry-leading retirement village model for today's active seniors," expressed Ms. Françoise E. Lyon, a Board of Directors member.

Mr. Khan stated, “This project embodies a lifetime of preparation, allowing me to align my values, experience, and beliefs to create an unprecedented venture in this market. The approval of the site plan for the first two phases of the 10-phase Master Plan retirement community by the municipality of Alexandria greatly facilitates my role.”

Glengarry Hills Village is a meticulously designed Senior Village with 750 residences and a commercial core. It offers a Unique Value Proposition (UVP) centered around a non-institutional community-based Senior Living environment, allowing seniors to Age in Place. The village provides modern amenities, affordable eco-friendly rentals, and convenient on-demand access to a comprehensive range of home and health care services. It also features a diverse selection of tailored amenities that promote independence, family connections, and freedom of choice for residents.

“Glengarry Hills Village will have cutting-edge technology integrated throughout the village, residents will have effortless access to various services with just a touch of a button,” stated Roy Bernhard, Chief Technology Officer.

The project has garnered strong support from the municipality, local community, and urban areas like Ottawa and Montreal. This is evident through a substantial list of interested individuals looking to reserve a unit.

The construction of the first two phases is scheduled to commence in the summer of 2023, occupation is expected in early 2024.