The Engineer

Age: 51
Company: WM Fares Group, Halifax, N.S.
Business: Real Estate Development
2008 EOY Category: Business to Consumer Products & Services

Wadih Fares is one of the lucky few who can honestly say they’re leaving their mark on society. And he’s doing it in his adopted home of Halifax in the literal sense of the phrase. Since arriving 30 years ago as civil war broke out in his native Lebanon, Fares has metamorphosed from a young engineering student with little knowledge of English to one of the top real estate developers on the East Coast and a leader of the vibrant Lebanese community in Halifax. In the early ’80s, his first commission designing a house for a friend opened his eyes to bigger opportunities on the development and construction sides of the industry. He figured if he brought professionals from all aspects real estate development together under one roof—from engineers to architects and planners—he could offer more cost-effective solutions to clients and reap greater rewards. Twenty-five years later, Fares’ company owns and manages more than 600 commercial and multi-unit residential properties in the Halifax area, has three planned communities in Nova Scotia, and has just broken ground for an upscale high-rise condominium building that will undoubtedly change the face of Halifax and assure his mark on the city.

Entrepreneurial Style

Defining moment: Every time I successfully complete a project is a defining moment to me. In a small business, defining moments are moving targets.
Biggest triumph: The Trillium on South Park St. It is a 19-storey mixed-use project that is going to make a statement in downtown Halifax.
Biggest mistake: Not expanding nationally when I had the opportunity to do so.
Best thing about doing business here: Good and honest people.
The toughest: Limited resources and a shortage in skilled labour.
Financing nightmares: Nightmare should be a synonym of the word financing.
Worries about losing everything: It’s happened several times. You challenge yourself and work harder to prevent this from happening.
Business mentor: My father.
Developing an entrepreneurial culture: Governments and the private sector need to collaborate to introduce progressive policies that meet the continuously evolving market challenges. We also need to provide sufficient business education programs in our school system.
Entrepreneurship should be taught: The earlier the better.
Progress is: Seeing people around me succeed.
How I’ve changed over the years: I wish I knew then what I know now.
Regrets: None whatsoever.

Personally Speaking

As a kid I wanted to be: I always wanted to be an engineer.
Personality type: Bold.
Best strength: Confidence.
Weakness: I still want to do business the old way, with a handshake.
First job: Hotel banquet porter.
I’m reading: Newspapers and magazines.
Spare time: Golf and more golf.
My ride: Range Rover.
Most treasured possession: A cross that my mother gave me.
Never leave home without: Thanking God for all of his blessings.
In the movie of my life I’d be played by: Al Pacino.
Words to live by: Always speak the truth; you'll never forget what you said.

For more profiles on our other Entrepreneur's of the Year please following the links below

Click here for George Armoyan
Click here for Curtis Howe
Click here for Bill Sanford
Click here for Harvey Stewart
Click here for Greg Roberts
Click here for Irving Schwartz