Richest People

Canada’s Richest People: The Lalji Family

Canada’s Richest People
Lalji Family

Lalji Family

Net Worth:
$3.07 billion
(No change from 2017)

Rich 100 rank: #30
Change in rank from 2017: ▼4
Major company holdings: Larco Group of Cos.
Location: Vancouver

The Laljis were among many low-profile players whose names came up in the Panama Papers leak in 2015. That database, obtained from Panama City law firm Mossack Fonseca and made public by the International Consortium of Investigative Journalists, showed Amin and Mansoor Lalji have an ownership position in the J.W. Marriott Las Vegas Resort and Rampart Casino, and brother Shiraz Lalji has connections to Oakdene Finance Ltd., a holding company based in the British Virgin Islands. In Canada, the Laljis are best known as the owners of the Park Royal Shopping Centre in West Vancouver, the iconic Fairmont Hotel Vancouver, federal office buildings in five cities and the Maple Leaf self-storage network.

In 2007, The Laljis’ company, Larco Group, struck a $1.7-billion deal with the federal government to buy and then lease back seven Ottawa office buildings; the CBC reported in 2015 that the arrangement has been plagued by years of disputes between the two parties, including acrimony over repairs, contract tendering and even parking fees.

Updated Thursday, November 9, 2017