Past Projects and Developments
BANC Group of Companies was founded in 1998 by Besim Halef, an engineer with a background in Metallurgical Engineering. Besim, whose career began in the early 1980’s as a design engineer, would later acquire the real estate and assets of the company for which he once was an employee and with that formed BANC Metal Industries Ltd., and continued to operate the fabrication business as owner, enjoying significant success. Within 2 years, BANC would also go on to acquire both the steel fabrication plants at 61 Estates Road (now known as AeconFabco), and the Pictou Shipyard, adding them to the offshore plant now known today as Woodside Industries. In 2002, BANC sold the offshore plant and all its assets to the Irving Group and renamed the plant, as noted above, Woodside Industries. BANC currently still owns the steel fabrication shop at 61 Estates Road and the Pictou Shipyard and has leased them both to Aecon Group, the largest construction company in Canada.
In 1999, BANC Properties Ltd. was also formed under the BANC Group umbrella and purchased the Dartmouth Professional Centre, a commercial investment property, also located in Woodside across from the Dartmouth General Hospital. This building was and still is home to the Dartmouth Provincial Law Courts and Community Services.
The successes Besim enjoyed in the steel fabrication industry spring boarded his various real estate pursuits.
In 2005, a third subsidiary, BANC Developments Ltd., was formed to segregate the development division of the company from the property ownership and management division. BANC, in only a short time has exhibited a penchant for turning raw land into value added investment for HRM as well as the owners of the properties within the developments, in addition to producing a return on investment for BANC itself. Among the key projects to be discussed in more detail below are The Trinity Harbourview Development Project, Mount Royale, Bedford Commons and Kelly Street
In addition to all of the above, Besim Halef, through his many conduits under BANC Group has been involved in the financing of various outside projects by builders and developers as well as ownership of many commercial investments, some of which have been noted. He is also involved in providing mezzanine financing for other projects, such as was the case with the 108 unit 10 story multi family complex known as St. James Place. BANC is debt free across all its assets and enjoys a strong financial cash position.