+1 - 844 - 66 - DELMA (663 - 3562)

About Us

The DELMA Team has decades of experience in development, acquisition and management.

The Delma Group

Diversified Real Estate Investment & Development Company


With its origins starting in the 1990's, the Delma Group (“Delma”) was established in 2015 from the amalgamation and partnership of several companies and real estate investors. Delma is headquartered in Montreal, Canada and is a multinational, owner-operator-developer-manager of quality properties and projects in North America, Europe, and other regions.


Delma is a vertically integrated real estate investment, development and operating company pursuing a strategic phase of expansion and acquisitions. The company has positioned itself as a leader in mid-size real estate operations currently operating and managing office, retail and industrial real estate, with 26.5 million Square Feet of land available for development of new projects.


Delma’s business model offers low risk-adjusted returns with stable cash flows. Its properties are less exposed to uncertain business and financial risks, and have generated returns that have consistently met management's estimated returns for shareholders. Delma aims to create diversified portfolios that are resilient to changing markets and macro-economic conditions, and to provide long-term returns that outperform the real estate industry.


Publicly traded on the Canadian Securities Exchange (CSE) since April 2018


Montreal-based, owns and operates real estate assets in Canada, USA and Europe


Broad diversification through vertical and horizontal integration


Agile and efficient investment platform to optimize yield whilst mitigating risk

Performance Business Model

  • Fully Integrated Company >

    • Active in all key real estate asset classes, including retail, multi-residential, senior homes, student housing, office, industrial and hospitality
    • Active in all stages of the real estate value chain
  • Seasoned Management Team >

    • Decades of combined experience from the Executives and Senior Leadership Team in driving the portfolio value at the stages of acquisition, development and operations
    • Management team fully invested, owning 87.5% of the company
  • Opportunistic >

    • Wide-angle platform, creative vision and global network of contacts provide a definitive head start in accessing off-market opportunities

Our Goals

Based on its fully integrated platform, experience and network, DELMA exploits privileged access to market opportunities, which ensures continual growth.  We strive to:

  1. Become a leader in mixed-use real estate ownership, development and management, based on a different, creative and environment sensitive approach
  2. Build a high-yield portfolio of $ 2B within 5 years
  3. Ensure a sustained and solid return to shareholders, including the distribution of yearly dividends, starting year 3
  4. Capitalize on established global network to source investment and development opportunities on and off-market
  5. Deploy financial structures engineered to ensure long term profitability and market downturn resilience
  6. Preserve exemplary governance and ethic practices

Structure - Three Main Divisions


Organizational Chart

Board of Directors

The Delma Group currently has seven Directors.

Mr. Hassan Shawwa, Chairman and CEO, The DELMA Group


Mr. Shawwa has accumulated over 32 years of experience in business development and real estate in North America and the Middle East, and has been involved in investment & real estate projects since 1986.


Hassan is a co-founder and member of the Board of Directors of Physinorth Acquisitions Corporation Inc. (PSN), a TSX-Venture publicly listed company. Hassan is a speaker and lecturer at Canadian real estate, business, and political conferences and round table discussion panels including the prestigious Conference Board of Canada.  Hassan Sits on the Advisory Board of Concordia University’s Engineering & Science Faculty, and on the Advisory Board of the OMNI TV Network, Canada’s multilingual & multicultural TV broadcaster.


Mr. Shawwa and his wife were members of the Prime Minister of Canada’s Round Table Conferences across the Country in 2010 & 2011 covering the Canadian Economy, and the Immigration & Citizenship Policy. Mr. Shawwa is quoted and interviewed in the Canadian mainstream media. He is a former member of two editorial boards at the Canadian Broadcast Corporation (CBC), Canada’s national broadcaster. He was awarded the Real Estate Businessman of the Year Award in 2005 by the Federal Minister of Development, The Maple Leaf Award for best Projects of the Year in 2007, and was nominated in 2008 by over 70 leading figures in Canada, including Ministers, Members of Parliament & Senate, former Ministers, Ambassadors, Politicians, Captains of Business & Industry, and leading Journalists for the prestigious Ordre National du Quebec Award, given by the Government of Quebec for contributions to the economy and Society.


Hassan is the former President of the National Council on Canada Arab Relations, a 35 years old Ottawa based political advocacy organization. Mr. Shawwa has held board seats and senior executive positions with several other Canadian NGO’s, and was involved with several Canadian Government Ministries and bodies on policies dealing with the Canadian Arab community, foreign policy, and business relations.


Hasan is also a member of the Advisory Board of the Al-Shawwa Family Educational Fund.

Mr. Francois Castonguay, President of The DELMA Group


Mr. Castonguay is the former President & CEO of the Uniprix Group, a leading Canadian Pharmaceutical Company. He has a rich and diverse background in business, finance and retail. He is currently working as a consultant and strategic advisor to meet the needs of several companies, financial institutions and boards of directors in these areas. He graduated with a degree in Business Administration and advanced in finance at York University in Toronto.


He began his practice as Director and then Vice-President at CitiBank Canada in financing medical equipment, leasing, medical, dental, hospitals, medical clinics and pharmacies. It is during these years that, wishing to put in place a financing adapted to the reality of its clients in the field of health, he introduced the concept of financing of goodwill in Quebec, thus creating new clusters of economic growth and growth among healthcare entrepreneurs.


He then joined the Uniprix Group, where he served as Executive Vice President (for 5 years) and then as President and Chief Executive Officer (for 15 years). During his time, he was involved in the implementation of the major transaction to acquire Cumberland Pharmacies. He also increased the number of Uniprix Group pharmacies from 147 to 374, and the banner turnover from $437 million to more than $1.9 billion.


Mr. Castonguay has always been committed to being involved in his economic and social environment with boards of directors and foundations. He was a member of the IUSSM (Louis H. Lafontaine) as Chairman of the Board of Directors for more than 11 years and is very active with the following foundations: Cystic Fibrosis (Governor), Charles Bruneau, Cancer Research Society of Canada, Arthritis Society, Heart and Stroke Foundation, Longueuil Symphony Orchestra (Governor), Pierre-Boucher Hospital and Charles-Lemoyne Hospital.


As Group President, Mr. Castonguay will be the public face of the Company, will be the contact point for the media, financial analysts, Government, and others.

Mr. Henri Petit, Corporate Secretary, The DELMA Group, President and CEO, DREC


Mr. Petit is a Lawyer by profession (Business Law) since 1991.  He started practicing law with the law firm Guy & Gilbert in Montreal, before starting his own law office.  As president and CEO of GHP Group since 1996, has been acting as developer and managing partner in various commercial, industrial and multi-residential real estate developments or redevelopments, developing and owning over $ 200 million in projects. Mr. Petit has also acted as executive on various executive committees and as business consultant for various private companies in the 1990s and early 2000s.  Mr. Petit has extensive experience in real estate acquisitions, leasing, financing and management.

Mr. Hazem Shawwa, President DHC


Mr. Shawwa is a principal of the Delma Group and has a law degree and 26 years of experience in acquiring, owning, managing and redeveloping real estate and operating businesses. He served at several Delma subsidiaries in different capacities and in different countries were the Group operates, including; Kuwait, Cairo, New York, and Montreal.

Mr. Joseph Cianci, CFO & Treasurer, The DELMA Group


Mr. Cianci has obtained his CPA, CA since 1986 and presently manages his CPA practice. He has extensive experience in banking, finance, taxation and management advisory services gained through his years at DBO Dunwoody, Raymond Chabot Grant Thornton and previous positions over the past 35 years as the CFO of a financial services trust, a publicly listed real estate company, privately owned retail and real estate companies. Currently advices on a consulting basis several companies listed on public exchanges and is a trustee for several privately held family trusts.

Mr. Hubert Marleau, Independent Director


Mr. Marleau is President, Founder and Director of Palos Capital Corporation. With over 45 years of experience in the investment and financial community, Mr. Marleau is one of the top leading financial figures in Canada and has a distinguished career in the financial services industry. Throughout his career, Mr. Marleau has been a Governor of the Toronto Stock Exchange, the Montreal Stock Exchange, and the Vancouver Stock Exchange, and has been a director of the Investment Dealer Association of Canada. Mr. Marleau is and has been a board member of over 50 publicly traded companies.


In the 70’s he was a Senior Vice President at Nesbitt Thomson (Nesbitt Burns-Bank of Montreal), he was previously the chief economist and director of research.  In the 80’s he was the Senior Executive Vice President for Levesque Beaubien (National Bank Financial) in charge of the Money Market Dept., the Bond Department, Research Dept., the Derivative Dept., Equity Dept. and Development Dept. In the 90’s he was President and CEO of Marleau Lemire (a publicly listed investment Banking Firm). Since 2000, he’s been the Founder and Chairman of Palos Capital (a merchant bank and money management firm)


He has raised funds privately and publicly for hundreds of emerging and mature companies, structured numerous mergers and acquisitions as well as designed and created numerous financial deals in Canada including taking almost 300 companies public. He has over the years built an extensive network of personal contacts in the business and investment communities.  Mr. Marleau also sits on an advisory committee that is advising the Canadian Government on the current renegotiations of NAFTA with the United States & Mexico. Mr. Marleau holds a Bachelor of Science in Economics from the University of Ottawa.

Mr. Terence Badour, Independent Director


Mr. Badour has had a distinguish career as a lawyer with over 30 years of professional experience with publicly listed companies, 20 years of which have been in the lodging and hospitality industry. Until July 2016 he served as Executive Vice-President of Law and Administration at Fairmont Raffles Hotels & Resorts, where he had oversight of the legal, corporate, risk management and administrative functions and was a key contributor to the development of Fairmont and Raffles into global luxury hotel brands.  Mr. Badour was also a key player in the establishment of Legacy Hotel REIT which was one of the largest public traded hotel REITs in North America until it was taken private in 2007. He has been a director a several private public companies including Fairmont Hotel & Resorts and Legacy Hotels.


Terry has in-depth experience in hotel purchase and sales, hotel financing, corporate structuring, management agreements, branded residential agreements and hotel operational matters, including food & beverage, spa and licensing.  Terry was instrumental in taking a collection of 24 owned and operated hotels located exclusively in Canada and creating the luxury multi-brand global hospitality company that Fairmont Raffles became before it was acquired by Accor in 2016.  Over his 19 years tenure at Fairmont Raffles, Terry was primarily responsible for the oversight of all legal, corporate services, compliance and related administrative functions, including executive compensation and internal audit, as well as serving as a member of Fairmont’s Executive Committee. He over saw execution of the company’s development and strategic plans and all merger and acquisitions. Before joining Fairmont Raffles, between 1996 and 1999, Terry was Corporate Counsel and Assistant Secretary at Canadian Pacific Limited (one of Canada’s then leading conglomerates), where he was responsible for legal services at the company’s executive office in Calgary, Canada. Prior to joining Canadian Pacific Limited, Terry was in private practice at Norton Rose (formerly Ogilvy Renault) and subsequently at Lavery DeBilly. In 2002, Terry was named one of Canada’s top general counsels by Lexpert magazine. In 2006, he was bestowed the Canadian General Counsel Award “Dealmaker of the Year”. Terry holds a B.A. (cum laude) in Political Science from Concordia University (Montreal, Canada) and a LL.L. and J.D. from the University of Ottawa (Ottawa, Canada).  He is fluent in English and French.  Terry is a member of the Ontario, Quebec and Canadian Bar Associations and the Association of Corporate Counsel, and a past member of the General Counsels Committee of the American Hotel and Lodging Association, the Advisory Board of the Georgetown Law School Legal Hospitality Conference, the ALIS Legal Conference and the Quorum Club of Canada. In 2010 he was inducted into the University of Ottawa Law School Honour Society in recognition of his contribution to the legal community and the Law School. He is also a founding member of Legal Leaders for Diversity (LLD) and an active volunteer for the United Way of Toronto.  Terry is a frequent speaker at legal and hospitality industry conferences.

Advisory Board

The Group’s Advisory Board is a valuable tool for the Company’s Board of Directors; it provides high level advice and contacts that represents great value to the Group’s various operations and its shareholders


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Suite 160 - 640 Avenue Orly

Dorval, QC, Canada


Tel:    +1 - 844 - 66-DELMA

          +1 - 844 - 663 - 3562

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