First Gulf
First Gulf Corporation is an integrated commercial real estate developer in Toronto offering development, construction, leasing, finance, and property management across office, industrial, retail, and alternative asset classes, serving enterprise clients including EQ Bank, Coca-Cola Canada, Amazon, BMW, and Sherwin-Williams.
- Company typePrivate
- Founded1987
- HeadquartersToronto, Canada
- Headcount101–250
- GTM typeB2B
- OfferingServices
What First Gulf does
First Gulf Corporation is a privately held, integrated commercial real estate development company headquartered in Toronto, Canada. Established in 1987 as the commercial arm of the Great Gulf Group of Companies, First Gulf operates a single unified platform spanning five core service lines: development, construction, leasing, finance, and property management, delivered across five property verticals: office, industrial, retail, land development, and alternative assets (data centers, hotels, senior living, and life sciences). The company has developed over 30 million square feet of office, retail, and industrial real estate representing more than $5 billion in developed assets, while currently managing 4 million+ square feet of operational buildings and maintaining a pipeline of 6 million+ square feet of industrial and 2 million+ square feet of office under construction.
The company's technical foundation rests on design-build integration with specialized teams across strategic project phases, LEED Gold-certified sustainable building practices (achieved on most recent office developments including Globe and Mail Centre and 25 Ontario), and transit-oriented development near major GTA transit hubs. First Gulf serves enterprise corporations through direct executive-level relationships, evidenced by blue-chip clients including EQ Bank, Coca-Cola Canada, Globe and Mail, Amazon, BMW, Sherwin-Williams, DP World, PwC, Aviva, BMO, Siemens Canada, and Marriott Hotels. The company also delivers build-to-suit, design-build, and third-party construction services for clients such as Toromont Industries and Hullmark Developments.
First Gulf generates revenue through five streams: development fees for planning and entitlements, construction services for design-build and third-party contracting, leasing commissions on its owned portfolio, ongoing property management fees, and investment partnership economics from joint ventures with institutional capital partners including HOOPP, Sun Life Financial, and Nicola Wealth Real Estate. Distribution is sales-led and enterprise-focused, with select broker-assisted leasing through CBRE and Colliers. Following domestic consolidation, the company entered the U.S. market in 2024 with industrial developments in Jacksonville, Florida and Rincon, Georgia, and added data center development through a 2023 STACK Infrastructure partnership.
First Gulf firmographics
Firmographics- Name
- First Gulf
- Legal name
- First Gulf Corporation
- Website
- https://firstgulf.com
- Company type
- Private
- Founded year
- 1987
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- First Gulf Corporation is an integrated commercial real estate developer in Toronto offering development, construction, leasing, finance, and property management across office, industrial, retail, and alternative asset classes, serving enterprise clients including EQ Bank, Coca-Cola Canada, Amazon, BMW, and Sherwin-Williams.
- Ownership category
- akta.pro rank
First Gulf industry classification
Industry- Product category
- Commercial Real Estate Development
- SIC
- Real Estate Dealers (For Their Own Account) (6532)
- akta.pro primary industry
- Transitional/Development Land Brokerage (Entitled, In-Path-of-Growth) (BPAJADAJ)
Keywords
Where First Gulf is headquartered
LocationHeadquarters
- HQ city
- Toronto
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
First Gulf business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Supply Chain, Marketing or Sales, Others
Revenue model
- Development Fees: First Gulf generates revenue through development fees for planning, entitlements, and project management of commercial real estate projects from concept through completion.
- Construction Services: Revenue from design-build, construction management, and third-party general contracting services for office, industrial, retail, and mixed-use developments.
- Leasing Commissions: Revenue generated through tenant leasing services for their portfolio of office, retail, and industrial properties.
- Property Management: First Gulf manages over 4 million SF of fully operational buildings, generating ongoing property management fees.
- Investment Partnerships: Joint venture arrangements with institutional and private equity partners including pension funds, insurance companies, and REITs for co-investment in development projects.
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
First Gulf product offering
Product offeringCore offering
First Gulf is a Toronto-based commercial real estate development company that delivers fully integrated development, construction, leasing, property management, and finance & investment services across office, industrial, retail, land, and alternative asset classes. Its portfolio includes major office towers such as First Gulf Centre and Power Stream, large industrial parks such as the Meadowvale and Hwy 401/427 industrial portfolios, and master-planned mixed-use communities in Liberty Village, Niagara-on-the-Lake, and other Ontario locations.
Product overview
First Gulf is an integrated commercial real estate development company operating as a single unified platform offering five core services: Development, Construction, Leasing, Property Management, and Finance. These services are delivered across five property-type sub-brands: Office Development, Industrial Development, Retail Development, Land Development, and Alternative Assets. The company develops, constructs, and manages commercial properties including office towers, industrial facilities, retail centers, and alternative assets such as data centers and senior living facilities. The portfolio spans over 30 million square feet of completed developments valued at over $5 billion, with projects ranging from Class-A office buildings like EQ Bank Tower and Globe and Mail Centre to industrial logistics facilities for clients such as Amazon and BMW, to retail destinations like Orion Gate and Milton Crossroads. The integrated service model allows First Gulf to manage projects from land acquisition through planning approvals, design-build, construction, leasing, and ongoing property management.
Differentiator
Problem solved
Functional benefit
Products and services
- Development Services End-to-end commercial real estate development including site acquisition, entitlements, design, financing, and master planning for office, industrial, retail, land, and alternative-asset projects across Ontario and Western Canada.
- Construction Services In-house design-build construction of commercial office, industrial, and mixed-use projects, including LEED-certified developments, led by First Gulf's own construction management team.
- Leasing Services Commercial leasing and tenant placement across First Gulf's portfolio of office towers, industrial parks, and retail centres.
- Property Management Services Ongoing property management of First Gulf's commercial real estate assets, providing operational oversight, tenant relations, and building maintenance.
- Finance & Investment Services Real estate finance, capital structuring, and joint-venture equity investment services, including partnerships with private and institutional investors to fund development projects.
Quantifiable outcome
- Over $5 billion in developed assets across 35+ years of operation
- +3 more outcomes
Companies that use First Gulf
Customer profileNamed customers16 records
Segments5 records
Ideal customer profiles4 records
First Gulf technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
First Gulf partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered major and core.
- Colliers | SavannahmajorAwarded leasing assignment for First Savannah Logistics Center in Rincon, Georgia. Colliers will market the ±348,000 SF Class A industrial development near the Port of Savannah.
- Nicola Wealth Real EstatecoreStrategic joint venture partner for multiple industrial developments in the Greater Toronto Area. Partnership includes 901 Hopkins Street in Whitby (293,000 SF facility), Bronte Station Business Park (365,000 SF across two industrial buildings), and combined industrial footprint exceeding 3.5 million SF.
- Nicola Wealth Real EstatecoreDevelopment partner for Bronte Station Business Park in Oakville, a 365,000 SF commercial development with two industrial buildings. Element Materials Technology occupies 55,000 SF in this park as part of a $17 million CAD investment.
- CBREmajorCBRE issued the Sherwin-Williams build-to-suit RFP and First Gulf was selected based on development vision and track record. CBRE represents Sherwin-Williams in the transaction for 350,000 SF facility in Barrie.
- Sun Life FinancialmajorJoint development partner for First Meadowvale Centre campus (FMC1, FMC2, FMC3) in Mississauga and First Halton Business Park in Halton Hills. Multiple phases of partnership spanning over a million square feet of premier office and industrial space.
- Toromont Industries Ltd.majorFirst Gulf secured construction management services contract for Toromont's new 190,000 SF corporate campus in Vaughan, Ontario. Project includes mass timber corporate office with green roof, warehouse and service shop with rooftop solar panels.
- Marriott HotelsmajorLong-standing relationship with Marriott for hotel construction across the GTA. Delivered five hotels over two years including two Residence Inn hotels and three Courtyard Marriott hotels in multiple locations.
Scale indicators10 records
Recent moves10 records
Expansion highlights6 records
First Gulf competitors and assessment
Company assessmentDirect peers
- QuadReal Property Group: Major Canadian commercial real estate developer and investment manager with institutional capital partnerships across office, industrial, retail, and residential — directly comparable to First Gulf's integrated GTA-based platform.
- Menkes Developments: Toronto-based full-service real estate developer active in office, industrial, retail, and residential — closely comparable geography, asset-class mix, and integrated development/construction/leasing model.
- GWL Realty Advisors: Canadian commercial real estate investment manager and developer managing office, industrial, retail, and multifamily on behalf of institutional capital — same GTA footprint and pension-fund-partner business model as First Gulf.
- Morguard: Canadian REIT and real estate operator with diversified office, industrial, retail, and multifamily holdings — comparable mixed-asset Canadian platform with property management and development capabilities.
- RioCan REIT: Major Canadian REIT focused on retail and mixed-use development with growing industrial exposure in the GTA — comparable Toronto-area development pipeline and tenant relationships.
- Choice Properties REIT: Canadian REIT with significant GTA retail, industrial, and office holdings — overlaps with First Gulf's retail development and industrial build-to-suit operations in the same geography.
Broad incumbents
- Oxford Properties Group: Large Canadian-headquartered global real estate developer and investor owned by OMERS — overlaps with First Gulf on Class-A office and mixed-use development but at significantly broader scale and geographic reach.
- Bentall GreenOak (BGO): Global real estate investment manager with strong Canadian presence offering development, asset management, and property services — comparable institutional-platform thesis but at much larger AUM scale.
- Ivanhoé Cambridge: CDPQ-owned global real estate investor with significant Canadian office, retail, industrial, and logistics exposure — comparable institutional capital deployment model, though at materially larger scale.
Others
- Tucker HiRise (Great Gulf Group): Sister division of First Gulf within the Great Gulf Group of Companies, focused on high-rise residential construction — a related-party peer using shared construction capabilities on a different asset class.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
First Gulf social profiles
Digital presenceFirst Gulf financial estimates
Financial estimateRevenue estimate
Valuation estimate
First Gulf leadership team
Management profileNumber of profiles
Profiles9 records
First Gulf funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First Gulf M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about First Gulf
What does First Gulf do?
First Gulf is a Toronto-based commercial real estate development company that delivers fully integrated development, construction, leasing, property management, and finance & investment services across office, industrial, retail, land, and alternative asset classes. Its portfolio includes major office towers such as First Gulf Centre and Power Stream, large industrial parks such as the Meadowvale and Hwy 401/427 industrial portfolios, and master-planned mixed-use communities in Liberty Village, Niagara-on-the-Lake, and other Ontario locations.
Is First Gulf a public or private company?
First Gulf is a private company. It is classified as corporate owned and is currently operating.
When was First Gulf founded?
First Gulf was founded in 1987. It employs 101 to 250 people.
Where is First Gulf based?
First Gulf is headquartered in Toronto, Canada, in the North America region.
How does First Gulf make money?
Five revenue lines are on record. Development Fees are the primary driver. The others are construction Services, leasing Commissions, property Management and investment Partnerships.
Who are First Gulf's main competitors?
Direct peers on record are QuadReal Property Group, Menkes Developments, GWL Realty Advisors, Morguard, RioCan REIT and Choice Properties REIT. Broad incumbents are Oxford Properties Group, Bentall GreenOak (BGO) and Ivanhoé Cambridge. Tucker HiRise (Great Gulf Group) is listed as an others.
Does First Gulf have an API?
No public API is recorded for First Gulf.
What industry is First Gulf in?
First Gulf's product category is Commercial Real Estate Development. Its primary akta.pro industry code is BPAJADAJ, Transitional/Development Land Brokerage (Entitled, In-Path-of-Growth). Its SIC code is 6532.