SCDC is a value-added real estate development company wholly owned by the City of Surrey with independent finance, operations, and governance.

Surrey City Development Corporation (SCDC) is a value-added real estate development company owned by but separate from the City of Surrey.   The corporation has independent financial oversight, operations, and governance. In addition to deriving financial value from real estate, a key dimension of SCDC’s mandate is to help advance the City’s economic, social, physical and community objectives. SCDC is focused on delivering impactful “City Building” projects that otherwise would not likely be developed by the private sector or government on their own. 

While the company has been in operation since 2007, between January 2021 to May 2023, the majority of SCDC assets were transferred over to the City and City staff took over the company’s operations as directed by the Council of the time.   In April 2023, Council directed staff to re-operationalize the Company and appointed an acting President and CEO.

The independent board was subsequently reconstituted in May 2023 and the President and CEO made permanent at the end of July 2023.

SCDC is governed by a Board of Directors appointed by the Council. The Board consists of seven directors: five independent members from the private sector who have significant professional and complementary expertise relevant to SCDC’s activities, the City Manager, and another senior member of City staff.  These latter two positions ensure that there is clear communication between the Company and its Shareholder, the City of Surrey as represented by Mayor and Council. 

2024 will be an exciting beginning of a new chapter of SCDC activity. By choosing to focus on major impactful projects, SCDC will help shape and accelerate Surrey’s growth in very positive and meaningful ways. It is anticipated that these projects will be executed in partnership with the private sector whenever possible, however, it is important to recognize that over the next five years, SCDC will be making significant investments on behalf of the City while undertaking these large-scale impactful projects.