What Format Group Inc. does

Format Group Inc. is a privately held, Toronto-based real estate developer (11-50 employees) focused on residential and mixed-use developments across the Greater Toronto Area, including Toronto, Oakville, and Newmarket. The company acquires land, secures planning approvals, coordinates architectural and engineering design, arranges project financing, and markets and sells condominium and townhouse units — either directly or via its partnership with Pegah Construction Ltd. for general contracting. Its portfolio includes active projects Earlscourt Condos (55 suites at St. Clair Avenue West, featuring integrated Smart One smart-home technology) and 16 Kirtling Pl. (7 luxury units in St. Andrews-Windfields, 2,200-3,500 sq.ft.), upcoming projects at 42 Lakeshore Rd. West (Oakville), 315 Davis Dr. (Newmarket), and 2 Sandfield Rd. (Toronto), and past projects totaling over 400 delivered units including King+ Condos (2015), 875 The Queensway, 707 Dovercourt, Bayview Ridge Gate (2018), and 3686 St. Clair E. Towns. Revenue is generated primarily through one-time sales of completed or pre-construction residential units to individual buyers and real estate investors, supplemented by professional development services covering site selection, feasibility studies, planning approvals, architectural coordination, project financing, and marketing/sales coordination. The company operates a sales-led, direct-to-consumer go-to-market via a sales center at 5050 Dufferin St. in North York, project registration landing pages, email newsletter capture, and Facebook/Instagram organic social channels. Leadership is concentrated in two principals — President Babak Sarshar and CEO Ali Mohtashami — each with 30+ years of GTA real estate development and construction experience.

Name

Format Group Inc.

Legal name

Format Group Inc.

Website

https://formatgroup.ca

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Others

Revenue model

1. Real Estate Development Sales: Format Group generates revenue through the sale of residential units including condominiums, townhouses, and mixed-use developments. Revenue is transaction-based, derived from one-time sales of completed or pre-construction residential units to individual buyers and investors.
2. Development Services: Provides real estate development services including site selection, land acquisition, project feasibility studies, planning approvals, architectural coordination, project financing, and marketing/sales coordination for third-party clients.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Format Group Inc. is a Toronto-based real estate developer that acquires, plans, develops, and sells residential and mixed-use real estate projects, primarily condominium and townhouse developments in the Greater Toronto Area. The company manages the full development lifecycle — including site selection, land acquisition, feasibility analysis, planning approvals, architectural coordination, project financing, construction oversight (via partner Pegah Construction Ltd.), and sales/marketing coordination. It also provides development services to third-party clients on a consulting basis.

Product overview

Format Group Inc. is a real estate development company offering a portfolio of residential and mixed-use projects across the Greater Toronto Area. The company's core product portfolio consists of multiple condominium and townhouse developments including current projects (Earlscourt Condos with Smart One technology, 16 Kirtling Pl.), upcoming developments (42 Lakeshore Rd. West in Oakville, 315 Davis Dr. in Newmarket, 2 Sandfield Rd. in Toronto), and completed past projects (King+ Condos, Bayview Ridge Gate, 875 The Queensway, 3686 St. Clair E. Towns, 707 Dovercourt). Alongside these development projects, Format Group provides integrated real estate development services including site selection and land acquisition, project feasibility studies, planning and development approvals, architectural and engineering design coordination, project financing, marketing and sales coordination, and general contracting services delivered through its partnership with Pegah Construction Ltd.

Differentiator

Problem solved

Functional benefit

Products and services

• Earlscourt Condos A Format Group Inc. residential condominium development in the Greater Toronto Area, delivered through the firm's integrated development and construction workflow in partnership with Pegah Construction Ltd.
• 16 Kirtling Pl. A Format Group Inc. residential development project at 16 Kirtling Pl. in the Greater Toronto Area, executed end-to-end by the developer with construction delivered via Pegah Construction Ltd.
• King+ Condos A Format Group Inc. residential condominium project in the Greater Toronto Area, developed and constructed via the firm's integrated workflow with Pegah Construction Ltd.
• Bayview Ridge Gate A Format Group Inc. residential development project named Bayview Ridge Gate in the Greater Toronto Area, delivered under the firm's integrated development and construction model.
• 875 The Queensway A Format Group Inc. mixed-use development at 875 The Queensway in the Greater Toronto Area, combining residential and commercial components and delivered through the firm's integrated development workflow.
• 3686 St. Clair E. Towns A Format Group Inc. townhouse development at 3686 St. Clair East in the Greater Toronto Area, executed end-to-end by the developer with construction delivered through Pegah Construction Ltd.
• 707 Dovercourt A Format Group Inc. residential development project at 707 Dovercourt in the Greater Toronto Area, delivered under the firm's integrated development and construction model.
• Development Services A consulting/engagement service through which Format Group Inc. provides third-party clients with site selection, land acquisition, project feasibility, planning approvals, architectural coordination, project financing, and marketing/sales coordination for real estate development projects. Targeted at landowners, property owners, and project sponsors who need end-to-end development execution support.

Quantifiable outcome

• Multiple successfully completed developments across the GTA with over 400 total units delivered

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Pegah Construction Ltd.coreStrategic or Co-development PartnerFormat Group partners with Pegah Construction Ltd., a general contracting and project management firm, for construction services. Pegah has decades of experience in Commercial, Industrial, Residential, Transportation, Recreational, Retail and Historical Building sectors. They provide quality workmanship and custom designs, supporting Format Group in bringing greater value to their development projects.

Scale indicators2 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Tridel: One of the largest and longest-tenured GTA condominium and residential developers, operating a much broader multi-tower portfolio than Format Group. Comparable as a GTA-focused residential developer, but at significantly larger scale with broader geographic reach and product mix.
• Menkes Developments: Major Toronto-based residential, commercial, and mixed-use developer with a deep condo pipeline across the GTA. Overlaps with Format Group on residential/mixed-use GTA projects but operates at much larger scale with broader product categories.
• Minto Group: Ottawa-headquartered homebuilder and condominium developer with active GTA condominium operations. Comparable residential product but operates as a national incumbent with broader geographic footprint.
• Mattamy Homes: Canada's largest homebuilder with significant GTA condominium and townhouse operations alongside single-family builds. Comparable residential product mix, but operating as a national incumbent with substantially greater scale.
• Brookfield Residential: Large Canadian homebuilder with GTA condo and master-planned community operations as part of a national portfolio. Overlaps with Format Group on GTA residential product but operates at substantially larger scale.
• The Daniels Corporation: Established GTA-based residential and mixed-use developer with a portfolio of condominium and rental projects. Comparable to Format Group in product mix, though larger in scale and headcount.

Direct peers

• Graywood Developments: Toronto-based developer active in residential and mixed-use projects across the GTA. Similar product type and regional concentration to Format Group, with comparable boutique-to-mid-size project profile.
• Pemberton Group: Toronto-based condominium developer active across the GTA, delivering mid- and high-rise residential projects with a similar neighborhood-sensitive approach. Closely comparable to Format Group's boutique-mid-rise GTA condo focus.
• Tribute Communities: GTA-focused residential developer building condominium, townhouse, and mixed-use communities. Similar product orientation and regional focus as Format Group, with overlapping target buyer segments.
• Liberty Development: Toronto-based condominium and mixed-use developer with multiple GTA projects. Comparable boutique-mid-rise development focus and similar target buyer profile to Format Group's current pipeline.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key highlights5 records

Customer concentration

• Facebookfacebook.com/formatgroupdevelopments
• Instagraminstagram.com/formatgroup.ca/?hl=en

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Format Group Inc.