Dream Unlimited Corporation (DRM) 2018年年度报告「TSX」.pdf

1、2018 Annual ReportDream(TSX:DRM)is an award-winning Canadian real estate company with approximately$15.0 billion of assets under management in North America and Europe.Dream is one of Canadas leading real estate companies with approximately$15.0 billion of assets under management in North America an

2、d Europe.The scope of the business includes asset management and management services for four Toronto Stock Exchange(“TSX”)listed trusts and institutional partnerships,condominium and mixed-use development,investments in and management of Canadian renewable energy infrastructure and commercial prope

3、rty ownership,and residential land development,housing and multi-family development.Dream has an established track record for being innovative and for its ability to source,structure and execute on compelling investment opportunities.Letter to ShareholdersWe are very pleased that the diversification

4、 of our asset base over the last few years has enabled us to introduce a regular quarterly dividend commencing in the first quarter of 2019,supported by the growth of our recurring income generating assets.One of our primary objectives over the last few years has been to remain focused on building a

5、 safer and more valuable company.In doing so,we have grown our pre-tax recurring income to$82 million in 2018,which exceeds our corporate general&administrative expenses and interest expense by nearly double.Over the last few years,our asset management business has become more valuable through incre

6、ased and diversified fee streams.We have increased the quality of our land by owning significantly more in the best locations in downtown Toronto which is the driver of the Canadian economy.Arapahoe Basin has benefited financially from our capital investments,its location in the centre of the best s