The numbered company 1161137 B. C. LTD bought 7239 Oak Street in May 2015 for $1.9M. The company held onto the land the city upzoned the neighbourhood under the Cambie Corridor Project. Once that was done, they assembled it with another nearby property, and have relisted the properties at $5.7M each.

This is just one example of landbanking, where speculators hoard large swathes of land, wait for a the city to increase density, and sell it to developers while making exhorbitant profits. Small local developers who want to build homes for working Vancouverites simply cannot afford to pay these sky high prices. The only people who can, are the likes of Westbank, Onni, Concord Pacific and Aquilini, who then build luxury condos that are meant as safety deposit boxes in the sky for the global rich.

Often the landbankers use corporations, sometimes numbered corporations, to do their landbanking. I analyzed homes that came for sale over the course of the last 12 months, and found at least 81 instances of corporations buying land and selling them within three years.

Address Owner List Price List Date Date Bought Price Bought Year Built 4777 2ND AVE W VANCOUVER Joyful Holdings Ltd $18,880,000 12/03/2018 12/12/2017 $14,128,000 1930 1880 MARINE DR SW VANCOUVER GLASENBRIDGE INVESTMENTS LTD $14,800,000 08/01/2018 08/03/2015 $8,890,000 2003 7843 CAMBIE ST VANCOUVER WDG INVESTMENT LTD. $12,000,000 31/01/2018 21/06/2017 $7,238,000 1959 5676 ASH ST VANCOUVER CEETU ASH 5676 DEVELOPMENT (BT) LTD $10,000,000 18/06/2018 03/02/2017 $5,400,000 1953 5530 BAILLIE ST VANCOUVER Ceetu 5530 Baillie Development (BT) Ltd. $7,500,000 19/06/2018 08/05/2017 $5,000,000 1961 1188 57TH AVE W VANCOUVER 1188 ENTERPRISES LTD. $6,980,000 28/08/2018 02/03/2016 $3,760,000 2008 1685 NELSON ST VANCOUVER 1685 NELSON STREET HOLDINGS INC. $6,788,000 16/02/2018 15/06/2017 $4,280,000 1905 506 63RD AVE W VANCOUVER 1163755 BC LTD $6,298,000 01/06/2018 05/02/2016 $2,838,000 1992 6388 MARGUERITE ST VANCOUVER GOLDEN MUSTANG HOLDING CORP. $6,158,000 11/06/2018 21/05/2015 $4,330,000 1926 5909 ATHLONE ST VANCOUVER ALIIA DEVELOPMENTS LTD $5,999,999 26/06/2018 21/09/2015 $4,185,000 1931 1860 BARCLAY ST VANCOUVER WEST END PROPERTIES LTD. $5,980,000 23/03/2018 09/03/2016 $3,100,000 1901 6618 ASH ST VANCOUVER MODERN GREEN TECHNOLOGY LTD. $5,900,000 20/03/2018 16/06/2015 $3,450,000 2011 7239 OAK ST VANCOUVER 1161137 B. C. LTD., $5,680,000 07/08/2018 19/05/2015 $1,875,000 1944 1075 DOUGLAS CRES VANCOUVER 1063263 B.C. LTD., INC.NO. BC1063263 $5,680,000 10/05/2018 05/01/2016 $3,250,000 1910 2659 35TH AVE W VANCOUVER CANADA JENO ENTERPRISES LTD. $5,180,000 18/01/2018 29/02/2016 $4,388,000 1915 1841 MARINE DR SE VANCOUVER 1096238 B.C. LTD. $4,990,000 22/11/2017 29/09/2016 $1,777,000 1912 3531 37TH AVE W VANCOUVER K-BROS DEVELOPMENTS CORPORATION $4,880,000 29/01/2018 14/12/2015 $4,350,000 1924 1405 40TH AVE W VANCOUVER QINGHUI HOLDINGS LTD. $4,690,000 16/08/2018 20/04/2016 $4,300,000 1926 2439 EDDINGTON DR VANCOUVER 2439 EDDINGTON HOLDINGS LTD. $4,628,000 27/08/2018 19/01/2016 $3,379,000 1989 4689 MACKENZIE ST VANCOUVER 1079931 B.C. LTD., INC.NO. BC1079931 $4,580,000 20/09/2017 28/09/2017 $4,450,000 2007 6069 CARTIER ST VANCOUVER 1039181 BC LTD $4,528,000 07/02/2018 16/06/2015 $3,100,000 1937 3884 26TH AVE W VANCOUVER ALTAS GLOBAL BUSINESS DEVELOPMENT INC. $4,500,000 01/03/2018 26/06/2016 $3,900,000 1925 2926 35TH AVE W VANCOUVER SONA DEVELOPMENT LTD $4,498,000 09/02/2018 21/01/2016 $3,800,000 1988 3489 PUGET DR VANCOUVER 1076872 B.C. LTD. $4,380,000 30/10/2017 03/05/2016 $3,860,000 1952 2628 MARINE DR SW VANCOUVER 1064867 BC LTD $4,288,000 12/03/2018 23/03/2016 $3,300,000 1950 565 50TH AVE W VANCOUVER 1145891 B.C. LTD., INC. NO. BC $4,280,000 04/06/2018 05/01/2016 $3,250,000 1958 2706 2ND AVE W VANCOUVER CHUNGHUA INVESTMENT (CANADA) CO LTD $4,190,000 12/09/2017 16/11/2016 $3,800,000 1913 3887 14TH AVE W VANCOUVER 1164167 B.C. LTD $4,160,000 14/08/2018 01/06/2015 $3,200,000 1927 4626 12TH AVE W VANCOUVER CHUNGHWA INVESTMENT (CANADA) CO. LTD. $4,150,000 19/01/2018 20/12/2016 $3,880,000 1935 1739 52ND AVE W VANCOUVER CHANG CHENG INVESTMENT LTD $3,588,000 24/01/2018 25/05/2015 $2,468,000 2004 8375 FRENCH ST VANCOUVER 1079098 BC LTD $3,500,000 22/06/2018 12/04/2016 $2,220,000 1947 3594 38TH AVE W VANCOUVER KANDA HOLDINGS LTD $3,488,000 19/01/2018 08/08/2017 $2,900,000 1944 3536 1ST AVE W VANCOUVER 8828 Holdings Ltd $3,339,000 07/09/2017 17/09/2017 $3,250,000 1912 291 63RD AVE W VANCOUVER NEW TRADITION CONSTRUCTION LTD. $2,998,900 01/03/2018 28/10/2016 $2,010,000 1959 4624 15TH AVE W VANCOUVER SEASKY HOLDING LTD, INC NO BC1029992 $2,998,000 06/02/2018 29/02/2016 $2,850,000 1944 4107 12TH AVE W VANCOUVER CIS HOMES LTD. $2,988,000 10/10/2017 08/03/2017 $2,700,000 1920 2796 21ST AVE W VANCOUVER M LALL PROPERTIES LTD. INC. NO. BC 1028006 $2,838,000 19/02/2018 16/06/2016 $2,598,000 1940 2040 PANDORA ST VANCOUVER 1074608 B.C. LTD., $2,800,000 20/09/2017 05/05/2016 $2,000,000 1913 2054 PANDORA ST VANCOUVER 1074608 B.C. LTD., $2,800,000 20/09/2017 05/05/2016 $2,000,000 1912 2867 19TH AVE W VANCOUVER New Tradition Construction LTD $2,699,900 08/02/2018 29/06/2017 $2,412,000 1944 1370 10TH AVE E VANCOUVER 1071932 B.C. LTD. $2,699,000 29/03/2018 25/04/2016 $1,750,000 1910 292 63RD AVE W VANCOUVER Realution Investments Corp. $2,682,580 09/07/2018 16/06/2015 $1,650,000 1994 3656 BLENHEIM ST VANCOUVER Takara Investments Ltd. $2,680,000 05/04/2018 16/05/2016 $2,380,000 1928 1737 2ND AVE E VANCOUVER 1890310 Ontario Inc. $2,650,000 20/11/2017 12/01/2015 $1,718,000 1910 4586 8TH AVE W VANCOUVER 1054618 B.C. LTD $2,550,000 30/01/2018 25/11/2015 $2,100,000 1987 1826 12TH AVE W VANCOUVER 1047469 BC LTD $2,499,900 27/04/2018 24/03/2015 $1,932,000 1922 3077 16TH AVE W VANCOUVER RPQG HOLDINGS LTD. $2,480,000 02/04/2018 08/12/2016 $1,895,000 1947 1578 58TH AVE E VANCOUVER 1086844 B.C. LTD. $2,398,000 07/02/2018 23/08/2016 $1,650,000 1954 266 21ST AVE E VANCOUVER Hasson Holdings Inc $2,398,000 20/11/2017 29/02/2016 $2,265,000 1928 2152 PARKER ST VANCOUVER HORST DAMMHOLZ REALTY LTD., INC. NO. $2,288,888 01/02/2018 18/05/2017 $1,580,000 1982 2506 TRINITY ST VANCOUVER MARMAN DEVELOPMENTS LTD $2,275,000 07/09/2017 02/03/2015 $1,333,000 1999 1275 24TH AVE E VANCOUVER 1108940 BC Ltd. & Hucha Holdings Inc. $2,198,000 23/04/2018 12/05/2016 $1,560,000 1926 6296 EAGLES DR VANCOUVER PARKHEIGHTS ENTERPRISES LTD $2,188,000 05/10/2017 20/12/2017 $2,150,000 2007 845 17TH AVE W VANCOUVER 1040394 B.C. LTD. $2,170,000 20/03/2018 20/07/2015 $1,767,000 1944 2806 ETON ST VANCOUVER MARMAN DEVELOPMENTS LTD. $2,080,000 04/06/2018 22/01/2016 $2,000,000 1951 2792 KITCHENER ST VANCOUVER 1009503 B.C. LTD $1,988,000 12/06/2018 22/07/2015 $1,272,000 1987 6108 KNIGHT ST VANCOUVER Huynh Holdings Inc. $1,988,000 28/01/2018 06/03/2017 $1,420,000 1967 3369 NANAIMO ST VANCOUVER VLK HOLDINGD INC $1,899,000 06/08/2018 22/03/2016 $1,715,000 1948 6708 BROOKS ST VANCOUVER 6708 BROOKS STREET HOLDING INC $1,799,000 05/02/2018 31/03/2017 $1,600,000 1958 2020 6TH AVE E VANCOUVER 1126254 B.C. LTD. $1,798,000 18/06/2018 13/05/2017 $1,550,000 1930 527 28TH AVE E VANCOUVER HASSON HOLDING INC. $1,798,000 20/11/2017 02/05/2015 $1,300,000 1956 1151 UNION ST VANCOUVER Union Street Investments Ltd $1,789,000 22/05/2018 12/05/2015 $810,000 1905 1821 UPLAND DR VANCOUVER SONA DEVELOPMENT LTD. $1,788,000 12/03/2018 10/05/2017 $1,700,000 1950 775 39TH AVE E VANCOUVER 39TH ST PROPERTIES LTD., INC.NO. BC1073714 $1,749,000 19/09/2017 02/03/2016 $1,635,000 1986 1910 19TH AVE E VANCOUVER Homeward Bound Park View Dev. Inc $1,699,000 18/03/2018 06/10/2016 $1,359,000 1923 6975 VIVIAN ST VANCOUVER CHRISTA VINA INVESTMENT LTD. $1,688,000 30/04/2018 06/04/2016 $1,645,000 1957 1249 11TH AVE E VANCOUVER CAMBRIDGE MORTGAGE INVESTMENT CORP $1,550,000 10/10/2017 18/12/2017 $1,420,000 1910 1969 8TH AVE E VANCOUVER 1041540 BC LTD. $1,549,000 27/09/2017 17/01/2018 $1,528,122 1930 1372 49TH AVE E VANCOUVER KINGDOM INVESTMENTS INC. $1,498,000 05/06/2018 10/09/2017 $1,307,000 1946 305 40TH AVE E VANCOUVER 11162017 BC LTD $1,498,000 28/11/2017 29/06/2017 $1,300,000 1947 695 12TH AVE E VANCOUVER Quantum One Investments INC $1,450,000 26/02/2018 23/03/2017 $1,030,000 1950 2712 PANDORA ST VANCOUVER TAYVA INVESTMENTS INC $1,449,000 20/11/2017 19/05/2016 $1,295,000 1908 4539 BEATRICE ST VANCOUVER HUYNH HOLDINGS INC. $1,440,000 06/10/2017 06/10/2017 $1,440,000 1910 2052 49TH AVE E VANCOUVER BIRING BROTHERS CONSTRUCTION LTD. $1,399,000 07/05/2018 02/05/2017 $1,320,000 1927 1022 ODLUM DR VANCOUVER 1071251 BC LTD $1,398,000 17/04/2018 04/04/2016 $980,000 1906 2771 MANITOBA ST VANCOUVER 1099481 BC LTD INC. $1,379,900 22/06/2018 05/04/2017 $1,007,000 1996 3658 TURNER ST VANCOUVER FOUR SEASONS NAILS & SPA LTD $1,369,000 31/08/2018 30/03/2016 $1,230,000 1926 765 39TH AVE E VANCOUVER 0971933 BC LTD $1,350,000 08/08/2018 07/04/2016 $1,249,000 1950 811 12TH AVE E VANCOUVER A Q HOLDINGS LTD. $1,349,900 09/07/2018 05/05/2015 $750,000 1936 3406 MONS DR VANCOUVER 2781 Capital Inc. $1,300,000 30/10/2017 07/05/2016 $1,400,000 1948 2059 CHARLES ST VANCOUVER CKL INVESTMENTS LTD $1,268,800 25/09/2017 28/01/2017 $940,000 1949 3650 GEORGIA ST E VANCOUVER G-HO HOLDINGS LTD, INC NO BC1107764 $1,249,000 26/01/2018 25/07/2017 $980,000 1934

Joyful Holdings, the company at the top of my list, belongs to a Hong Kong property tycoon known as the “King of Shell Companies,” whose name appears in the Offshore Leaks database of tax haven clients . Vision Vancouver donor Ceetu appears twice on the list.

We need stop landbankers from artificially driving up land prices, and then free up the land they’re holding onto to build more affordable housing. The city needs to work with the province to introduce a landbanking tax that makes landbanking an unprofitable venture.