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Introduction

Vaughan Mills Mall, a popular retail hub in the city of Vaughan, Ontario, Canada, brims with shoppers every day. In understanding Vaughan's economy, it's crucial to understand the backbone holding up this successful mall venture. So, who owns Vaughan Mills Mall?

Ownership of Vaughan Mills

Ivanhoé Cambridge, a real estate company based in Montreal, Quebec, Canada, owns Vaughan Mills. Ivanhoé Cambridge is a subsidiary of the Caisse de dépôt et placement du Québec (CDPQ), one of Canada's leading institutional fund managers. The operations and management of Vaughan Mills Mall fall under the purview of this company.

About Ivanhoé Cambridge

Ivanhoé Cambridge was established in 2011 as a merger between Ivanhoé, a real estate company, and SITQ, a real estate investment group. The company invests in high-quality properties, projects and real estate companies in key markets around the world. It also draws on vast industry networks to find the best investment opportunities and manage them efficiently. Today, Ivanhoé Cambridge is among the ten largest real estate companies globally.

The Role of the Caisse de dépôt et placement du Québec (CDPQ)

The CDPQ acts as a primary parent company, providing Ivanhoé Cambridge with working capital to further its investments. The CDPQ, which has a diversified global portfolio, operates in financial markets, private equity, infrastructure, and real estate. Its strategic relationship with Ivanhoé Cambridge demonstrates its significant investment in the real estate sector.

Why Vaughan Mills is Significant

Vaughan Mills is one of the largest enclosed shopping centers in Canada and the largest shopping mall in York Region with over 200 retail stores. The mall contributes significantly to Vaughan's economy by attracting millions of shoppers annually and creating numerous jobs. Since opening in 2004, Vaughan Mills has become a staple in Vaughan’s community, demonstrating the successful investment by Ivanhoé Cambridge.

Urban Development in Vaughan

The ownership and success of Vaughan Mills is a reflection of the city's urban development. Vaughan is one of the fastest-growing municipalities in Canada, and the construction and success of Vaughan Mills by Ivanhoé Cambridge reflect the city’s upward trajectory. The city's planning divisions work closely with such stakeholders to help drive and facilitate economic growth and prosperity.

Conclusion

Vaughan Mills Mall is much more than a shopping center; it's a testament to the ongoing investment and urban development taking place in Vaughan. Ivanhoé Cambridge, backed by the financial power of the CDPQ, owns and manages Vaughan Mills, bringing significant economic benefits to the city. Their continued investment in the city ensures a vibrant future for Vaughan, boosting both its economy and reputation in Canada and beyond. For those intrigued by Vaughan's cultural, environmental, and urban dynamics, the story of Vaughan Mills and its ownership remains an integral part of the narrative. In summary, much lies behind the bustling scene of Vaughan Mills Mall to appreciate its contribution to the city's landscape and economy; one must also recognize the vision and investment of its owner, Ivanhoé Cambridge. This deep dive into Vaughan Mills' ownership and the consequent economic implications for Vaughan provides a clearer understanding of Vaughan's rich business landscape and a more comprehensive picture of its vibrant community.