NCC was incorporated in 1995 to build, own and lease commercial and residential infrastructure required by the Government of Nunavut as part of the formation of the new Canadian territory. The Nunavut Land Claims, which was settled in 1993, included a commitment for the establishment of a separate territory. Subsequently federal legislation was passed in the form of the Nunavut Act, which constitutionally allowed for the new territory and the new Government of Nunavut to be implemented commencing April1, 1999. The new Nunavut Territorial Government would require an infrastructure of office buildings, legislative facilities and staff housing. The decentralized model of the government magnified these requirements. Inuit leadership, through Nunavut Tunngavik Incorporated (“NTI”), recognized that these infrastructure needs contained the elements of a significant investment opportunity for the Inuit beneficiary corporations along with substantial business opportunities that would provide a great boost to Nunavut economic development. After the “partnering arrangement” was negotiated, with agreement reached by all parties, NCC was established as an arm’s length private corporate vehicle by which the Inuit could pursue these economic opportunities. The four Inuit birthright development corporations of Nunavut became the owners of NCC.

The Government of Nunavut infrastructure project included 10 office buildings in 10 different communities to accommodate the decentralized model of government. The Iqaluit location includes facilities for the Legislative Assembly. 250 staff housing units were allocated to 11 different communities, aligned with the regional administrative centers. In 1999, we incorporated two subsidiaries – NCC Properties Limited and NCC Development Limited – to manage and to build our real estate portfolio and to provide third party construction services. We are committed to Inuit participation in employment and contracting.

By 2001, NCC completed buildings valued at $160 million for lease to the Government of Nunavut.

By 2008, NCC completed Inuksugait Plaza, a residential and commercial project valued at $40 million.

On June 2, 2011 Atuqtuarvik Corporation and NCC Properties Limited entered into a Partnership registered under the Nunavut Partnership Act. NCC/AC Industrial Park L.P. warehouse space was constructed in 3 phases between 2011 and 2013 for a combined 25,500 square feet.
On July 1, 2017, NCC and the Government of Nunavut entered into a lease-to-own agreement for the 10 office buildings. In accordance with this lease-to-own agreement, the Government of Nunavut will make monthly extension rent payments for a 10-year period following the end of the initial 20-year leases. At the end of the 10-year extension rent period, the Government of Nunavut will take ownership of the 10 office buildings.

On November 1, 2019, Qikiqtaaluk Properties Inc. and NCC Properties Limited entered into a Partnership registered under the Nunavut Partnership Act. QPI/NCCP Plateau Development L.P. was established for the purposes of developing and constructing mixed-use commercial and residential buildings on the Lower Plateau in Iqaluit. One of the new buildings, which is currently under construction and is expected to be completed in early 2022, will house NCC’s new corporate head office.

In November 2021, NCC Properties Limited closed on the sale of 126 residential units to the Nunavut Housing Corporation. These units were part of the original 250 residential units constructed by NCC from 1998 to 2000 in order to meet the staff housing needs of the newly formed Government of Nunavut.

Since inception, NCC has: employed over 250 Inuit beneficiaries; logged over 100,000 apprenticeship hours; supported Inuit suppliers, subcontractors and professional; contributed to Nunavut by providing corporate sponsorship; and paid dividends to our shareholders.

We continue to work in partnership with our shareholders. We participate in sustainable development, employing Inuit workers and contractors. We generate wealth for our shareholders, our employees and our suppliers. We are helping to build Nunavut.

Our first priority at NCC Investment Group is to honour our responsibilities to our shareholders by:
  • demonstrating leadership as a corporate citizen of Nunavut
  • engaging in economic opportunities to enhance Inuit participation
  • protecting and enhancing the value of our core assets, our real estate portfolio
  • managing risks associated with our decisions in a professional and effective manner
  • generating wealth and paying dividends