We are thrilled to share some exciting news of our recent accomplishment. As a fast-growing property developer, we have not only scaled our development portfolio by an impressive 40%, but we have also returned over £10 million to our valued investors. These achievements are a testament to our commitment to excellence and our vision of making a positive impact in the property development industry.
Building a Credible Reputation: Since our establishment in 2019, HJ Collection has rapidly built a credible reputation as a leading property developer. We have focused on identifying viable development sites in tier 2 and 3 cities across the UK. Our team of experts has successfully transformed over 15 neglected commercial buildings into more than 650 quality yet affordable residential units. By doing so, we are playing our part in addressing the ongoing housing crisis in the UK and providing much-needed housing solutions.
Expansion into the USA: As part of our strategic growth plan, we are thrilled to announce our expansion into the United States. We have opened a new office in the prestigious World Trade Center in New York, marking an exciting milestone for HJ Collection. Our goal is to establish a team of property development and investment specialists in the US while also driving additional investment into the UK market. This expansion will not only broaden our horizons but also create new opportunities for growth and collaboration.
Ambitious Growth Objectives: With our sights set on continued success, we are on track to acquire over 10 additional sites throughout 2023. This expansion will contribute to a projected gross development value (GDV) of over £100 million, allowing us to achieve remarkable growth of more than 40% by the end of the year. These figures showcase our dedication to realising our growth strategy while delivering excellent returns to our valued investors.
Founder's Perspective: Reece Mennie, Founder and CEO of HJ Collection, expressed his gratitude and admiration for the hard work and dedication demonstrated by the team. Despite the challenges posed by the current economic downturn, we have remained steadfast in executing our growth strategy and fulfilling our promises to investors. Reece emphasised that these achievements come at an exciting time for HJ Collection as we venture into new territories and pursue ambitious growth objectives for 2023 and beyond.
Recognition in the Industry: Our commitment to excellence has been acknowledged within the industry. HJ Collection was recently shortlisted for the Small Developer of the Year award at the prestigious RESI Awards 2023. This recognition highlights our ongoing pursuit of delivering exceptional projects and making a positive impact in the property development sector.
We are proud of our recent accomplishments, with our expansion into the United States marking an exciting chapter for our company. We are eager to establish a strong presence on the other side of the Atlantic. With ambitious growth objectives and a dedicated team of experts, we are confident in our ability to continue making a significant impact in the property development industry.