{"id":2137,"date":"2023-04-06T23:31:28","date_gmt":"2023-04-07T05:31:28","guid":{"rendered":"https:\/\/calgaryski.net\/?p=2137"},"modified":"2024-11-29T01:38:55","modified_gmt":"2024-11-29T07:38:55","slug":"riaz-mamdani-founder-of-calgarys-strategic-group-investment-and-development-company","status":"publish","type":"post","link":"https:\/\/calgaryski.net\/en\/eternal-2137-riaz-mamdani-founder-of-calgarys-strategic-group-investment-and-development-company","title":{"rendered":"Riaz Mamdani \u2013 Founder of Calgary&#8217;s Strategic Group Investment and Development Company"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">In the 1990s, Riaz Mamdani became famous in Calgary as a financier of various startups, and in the early 2000s, he fully immersed himself in real estate. Riaz, an entrepreneur, founder of Strategic Group, and philanthropist, used his energetic personality combined with his business and financial knowledge to become an expert in his field and one of Calgary\u2019s wealthiest individuals. Learn more about his life and career on <a href=\"https:\/\/calgaryski.net\/\" data-type=\"link\" data-id=\"https:\/\/calgaryski.net\/\">calgaryski.net<\/a>.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_74 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<label for=\"ez-toc-cssicon-toggle-item-6a3e9aa224817\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3e9aa224817\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/calgaryski.net\/en\/eternal-2137-riaz-mamdani-founder-of-calgarys-strategic-group-investment-and-development-company\/#Immigration_and_Education\" >Immigration and Education<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/calgaryski.net\/en\/eternal-2137-riaz-mamdani-founder-of-calgarys-strategic-group-investment-and-development-company\/#Early_Career\" >Early Career<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/calgaryski.net\/en\/eternal-2137-riaz-mamdani-founder-of-calgarys-strategic-group-investment-and-development-company\/#Founding_Strategic_Group\" >Founding Strategic Group<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/calgaryski.net\/en\/eternal-2137-riaz-mamdani-founder-of-calgarys-strategic-group-investment-and-development-company\/#Philanthropy\" >Philanthropy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/calgaryski.net\/en\/eternal-2137-riaz-mamdani-founder-of-calgarys-strategic-group-investment-and-development-company\/#Assassination_Attempt\" >Assassination Attempt<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/calgaryski.net\/en\/eternal-2137-riaz-mamdani-founder-of-calgarys-strategic-group-investment-and-development-company\/#Charges_of_Violence\" >Charges of Violence<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Immigration_and_Education\"><\/span>Immigration and Education<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Riaz was born in Uganda (East Africa) in the late 1960s. In July 1973, at the age of 4, he emigrated to Calgary with his parents and younger brother. His parents owned several stores and real estate in Calgary and East Africa.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In 1992, Mamdani earned a Bachelor\u2019s degree in Pharmacy from the University of Manitoba and four years later graduated from the Faculty of Law at the University of Calgary.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1068\" height=\"1600\" src=\"https:\/\/cdn.calgaryski.net\/wp-content\/uploads\/sites\/36\/2024\/11\/1-2.jpg\" alt=\"\" class=\"wp-image-2138\" srcset=\"https:\/\/cdn.calgaryski.net\/wp-content\/uploads\/sites\/36\/2024\/11\/1-2.jpg 1068w, https:\/\/cdn.calgaryski.net\/wp-content\/uploads\/sites\/36\/2024\/11\/1-2-200x300.jpg 200w, https:\/\/cdn.calgaryski.net\/wp-content\/uploads\/sites\/36\/2024\/11\/1-2-768x1151.jpg 768w, https:\/\/cdn.calgaryski.net\/wp-content\/uploads\/sites\/36\/2024\/11\/1-2-1025x1536.jpg 1025w, https:\/\/cdn.calgaryski.net\/wp-content\/uploads\/sites\/36\/2024\/11\/1-2-696x1043.jpg 696w\" sizes=\"auto, (max-width: 1068px) 100vw, 1068px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Early_Career\"><\/span>Early Career<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">From 1992 to 1996, Riaz worked as a pharmacist at the Foothills Medical Centre in Calgary. From 1996 to 1998, he worked as a lawyer and solicitor at the Calgary law firm Beaumont Church, specializing in corporate law, commercial law, and securities law.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the late 1990s, Riaz\u2019s professional interests gradually shifted from legal practice to funding startups. Companies in their early stages required office spaces, so Mamdani ventured into real estate, deciding to rent out office spaces.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Founding_Strategic_Group\"><\/span>Founding Strategic Group<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Riaz accumulated significant wealth through investments in technology companies and dot-coms (companies operating solely online). By the end of March 2001, stock prices had dropped by 98% in one year. About a month later, Mamdani liquidated several of his investments.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In 2001, with his savings, he founded Strategic Group to continue investing in commercial real estate in the city and surrounding areas. It all started with two properties, and by 2008, Strategic Group owned over 60 offices and retail properties in industries such as construction, oil, hospitality, pet care, corporate finance, agriculture, and technology.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Riaz became well-known in the real estate business for his unconventional thinking. Since the founding of <em>Strategic Group<\/em>, Mamdani used his legal skills and experience to expand the company\u2019s business portfolios and holdings. He applied his extensive knowledge of finance to promote two separate companies from their inception to becoming international multi-million-dollar corporations.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Strategic Group<\/em> is an investment and development company that owns, manages, develops, and repurposes office, retail, and residential properties across Canada.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"800\" src=\"https:\/\/cdn.calgaryski.net\/wp-content\/uploads\/sites\/36\/2024\/11\/2-3.jpg\" alt=\"\" class=\"wp-image-2141\" srcset=\"https:\/\/cdn.calgaryski.net\/wp-content\/uploads\/sites\/36\/2024\/11\/2-3.jpg 800w, https:\/\/cdn.calgaryski.net\/wp-content\/uploads\/sites\/36\/2024\/11\/2-3-300x300.jpg 300w, https:\/\/cdn.calgaryski.net\/wp-content\/uploads\/sites\/36\/2024\/11\/2-3-768x768.jpg 768w, https:\/\/cdn.calgaryski.net\/wp-content\/uploads\/sites\/36\/2024\/11\/2-3-696x696.jpg 696w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Philanthropy\"><\/span>Philanthropy<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Over the years, Mamdani has made charitable contributions to various organizations, including <em>Make-a-Wish<\/em> and the Project Warmth Society of Alberta. He has also supported the Alberta Women Entrepreneurs (AWE) community, worked with the Calgary Food Bank to gather food and monetary donations for the needy, and made a donation to the <em>Calgary Opera<\/em> company to help it transition to a new location in Calgary, now called the Mamdani Opera Centre.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In 2012, he led <em>Strategic Lets Eat!<\/em>, an annual food collection campaign. In 2015, during a four-day food drive at <em>Strategic Group<\/em>\u2019s headquarters and offices, Riaz managed to gather over 4,000 pounds of food and made a financial donation to further demonstrate his support.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In 2015, Riaz organized a shelter for Syrian refugees arriving in Canada, opening several of his company\u2019s properties for the cause. In addition to apartments, <em>Strategic Group<\/em> worked with municipalities and local authorities to ensure that refugees could afford to rent housing. This desire to help was influenced by Mamdani\u2019s family history, as they had once required refuge in Calgary.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Strategic Group<\/em> is also a long-time supporter of Project Warmth, an initiative that collects warm clothing for homeless people in the city. The company\u2019s buildings serve as collection points. In May 2022, Mamdani donated $500,000 to help deliver medical and search-and-rescue drones to the front lines in Ukraine.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1500\" height=\"1001\" src=\"https:\/\/cdn.calgaryski.net\/wp-content\/uploads\/sites\/36\/2024\/11\/3-2.jpg\" alt=\"\" class=\"wp-image-2144\" srcset=\"https:\/\/cdn.calgaryski.net\/wp-content\/uploads\/sites\/36\/2024\/11\/3-2.jpg 1500w, https:\/\/cdn.calgaryski.net\/wp-content\/uploads\/sites\/36\/2024\/11\/3-2-300x200.jpg 300w, https:\/\/cdn.calgaryski.net\/wp-content\/uploads\/sites\/36\/2024\/11\/3-2-768x513.jpg 768w, https:\/\/cdn.calgaryski.net\/wp-content\/uploads\/sites\/36\/2024\/11\/3-2-696x464.jpg 696w\" sizes=\"auto, (max-width: 1500px) 100vw, 1500px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Assassination_Attempt\"><\/span>Assassination Attempt<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">In December 2016, while Riaz was sitting in the driver\u2019s seat of his <em>Rolls-Royce Phantom<\/em>, he became the target of a shooting right in front of his home in the Mount Royal neighborhood. The entrepreneur was hit six times. Shortly after the shooting, explosions were heard on 6 Ave S.W. Mamdani sustained severe injuries, but his condition stabilized in the afternoon. The front of the car was heavily damaged, and at least three bullet holes were found in the driver\u2019s side window. Another person was in the car, but they were unharmed.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The police classified the targeted attack as an attempted murder. Despite Mamdani\u2019s friends offering a $250,000 reward for any information about the crime, no one was arrested.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">After the shooting, Calgary\u2019s then-mayor Naheed Nenshi stated that Riaz was a person who came to Canada as a refugee with nothing, but managed to build one of the most successful businesses in Calgary and became an incredibly important patron for the city.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"719\" height=\"386\" src=\"https:\/\/cdn.calgaryski.net\/wp-content\/uploads\/sites\/36\/2024\/11\/4-2.jpg\" alt=\"\" class=\"wp-image-2147\" srcset=\"https:\/\/cdn.calgaryski.net\/wp-content\/uploads\/sites\/36\/2024\/11\/4-2.jpg 719w, https:\/\/cdn.calgaryski.net\/wp-content\/uploads\/sites\/36\/2024\/11\/4-2-300x161.jpg 300w, https:\/\/cdn.calgaryski.net\/wp-content\/uploads\/sites\/36\/2024\/11\/4-2-696x374.jpg 696w\" sizes=\"auto, (max-width: 719px) 100vw, 719px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Charges_of_Violence\"><\/span>Charges of Violence<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">In November 2021, Riaz\u2019s former partner, 54-year-old Kate Abbott, accused Mamdani of assault. She told emergency services that she had sustained bruises, a broken tooth, and torn ligaments. The woman also posted about the incident on Instagram, urging other victims of domestic violence to stand together.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In January of the following year, the case went to court, and Riaz\u2019s lawyer told journalists that the charges were baseless and part of a campaign aimed at gaining financial profit from the breakdown of a four-year personal relationship. Specifically, Kate sought over a million dollars a year and a six-figure sum in child support for her child from a previous relationship.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In June 2022, the prosecution dropped the domestic violence charges against Mamdani. In a prepared statement, Mamdani said he felt relieved that his legal issues had ended. He also stated that the consequences of baseless accusations could be as damaging as a conviction, partially becoming a sentence to one\u2019s reputation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s worth noting that Mamdani was the subject of several other lawsuits, including a $10 million lawsuit filed in 2014. The lawsuit claimed that Mamdani and other businessmen collected $6.4 million to buy a piece of land, but the deal ended without providing proper explanations to investors.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In addition, Riaz is one of several defendants in a class-action lawsuit involving companies connected to <em>Platinum Group<\/em>. 2,200 investors lost about $200 million, buying commercial real estate companies between 2002 and 2012.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the 1990s, Riaz Mamdani became famous in Calgary as a financier of various startups, and in the early 2000s, he fully immersed himself in real estate. Riaz, an entrepreneur, founder of Strategic Group, and philanthropist, used his energetic personality combined with his business and financial knowledge to become an expert in his field and [&hellip;]<\/p>\n","protected":false},"author":404,"featured_media":2150,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[190],"tags":[1447,1448,1450,1454,1445,1451,1449,1458,1446,1457,1456,1444,1453,1452,1455],"moimportance":[30,33],"motype":[196],"moformat":[1428],"class_list":["post-2137","post","type-post","status-publish","format-standard","has-post-thumbnail","category-success-stories","tag-business-success","tag-calgary-business-leaders","tag-calgary-entrepreneurs","tag-calgary-philanthropy","tag-calgary-real-estate","tag-canadian-businessmen","tag-charitable-contributions","tag-financial-success","tag-investment-companies","tag-legal-career","tag-real-estate-development","tag-riaz-mamdani-3","tag-strategic-group-3","tag-syrian-refugees","tag-violence-allegations","moimportance-golovna-novyna","moimportance-retranslyacziya-v-agregatory","motype-eternal","moformat-s-l"],"_links":{"self":[{"href":"https:\/\/calgaryski.net\/en\/wp-json\/wp\/v2\/posts\/2137","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/calgaryski.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/calgaryski.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/calgaryski.net\/en\/wp-json\/wp\/v2\/users\/404"}],"replies":[{"embeddable":true,"href":"https:\/\/calgaryski.net\/en\/wp-json\/wp\/v2\/comments?post=2137"}],"version-history":[{"count":1,"href":"https:\/\/calgaryski.net\/en\/wp-json\/wp\/v2\/posts\/2137\/revisions"}],"predecessor-version":[{"id":2153,"href":"https:\/\/calgaryski.net\/en\/wp-json\/wp\/v2\/posts\/2137\/revisions\/2153"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/calgaryski.net\/en\/wp-json\/wp\/v2\/media\/2150"}],"wp:attachment":[{"href":"https:\/\/calgaryski.net\/en\/wp-json\/wp\/v2\/media?parent=2137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/calgaryski.net\/en\/wp-json\/wp\/v2\/categories?post=2137"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/calgaryski.net\/en\/wp-json\/wp\/v2\/tags?post=2137"},{"taxonomy":"moimportance","embeddable":true,"href":"https:\/\/calgaryski.net\/en\/wp-json\/wp\/v2\/moimportance?post=2137"},{"taxonomy":"motype","embeddable":true,"href":"https:\/\/calgaryski.net\/en\/wp-json\/wp\/v2\/motype?post=2137"},{"taxonomy":"moformat","embeddable":true,"href":"https:\/\/calgaryski.net\/en\/wp-json\/wp\/v2\/moformat?post=2137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}