Going Public Again

In the year, 1987, Nickelodeon went out of business. At this time, Salim moved to London, UK for about three years. While in London, he started a chain of grocery stores, which he in 1991 in order to head back to Canada.
He already had experience going Public in 1983, so once he was back in Vancouver, in 1991, he decided to go public again.

By 1996, Salim decided to move to Las Vegas. He then decided to begin venturing into land development around 1999. He rezoned property from residential to commercial and was also able to receive hard money loans from retired investors.

Salim also built
a. A shelf station – a 12 bay automotive repair shop
b. A 31,000 sq ft shopping center
c. An AMW drive through and
d. A carwash

Salim managed every aspect of these projects himself. He bought the land, rezoned it, and increased the value. Based on the increase in value, he was able to get leverage, more funding, and used the funding to continue to build more projects. The most impressive part is that he did not have a general contractor running these builds. He built them all by creating a general contracting company in Las Vegas and hiring his own staff to work for him.

This provided him with the advantage of cutting out all of the middlemen. He profited substantially from the rezoning margin and the projects were built without no additional markup for general contracting. This technique worked amazingly well to increase Salim’s profits.

The projects Salim had undertaken at that time:

  • 70,000 sq ft Villa De Tuscany
  • Assisted Living Facility
  • Steady and South Movie Theatres
  • Bowling Alley
  • Four Level Parking Garage
  • Office and Retail Buildings