Calgary

Gunned-down realtor Riaz Mamdani expected to make full recovery, says family

The millionaire Calgary businessman shot outside his Mount Royal mansion is expected to recover fully, his brother said Wednesday.

Police continue to search for motive in daylight shooting of millionaire businessman

Riaz Mamdani was shot outside his Mount Royal mansion Monday morning. (Left photo: Strategic Group; Right photo: Justin Pennell/CBC)

The millionaire Calgary businessman shot outside his Mount Royal mansion is expected to recover fully, his brother said Wednesday.

"He is recovering and I expect him to make a full recovery," Alykhan Mamdani told CBC News.

Riaz Mamdani — the CEO of Calgary realty behemoth Strategic Group — was shot through the window of his Rolls Royce while pulling out of his driveway in Mount Royal on Monday morning. He was rushed to hospital and is now listed in stable condition.

The only suspect description available is a man in a bright orange jacket.

Police are searching for a motive in the attack — which they described as targeted — and said investigators are looking into all aspects of the victim's background and associates.

Police are also looking into whether the discovery of a burning SUV a few blocks away soon after the shooting is connected.

Mamdani has been the subject of several lawsuits in recent years, the highest profile one stemming from his involvement in Platinum Equities, a company accused of bilking investors out of $160 million.

A married father of four, Mamdani is a noted philanthropist. He offered assistance to arriving Syrian refugees, is known for his work with Project Warmth, providing thousands of coats for Calgary's less fortunate every year.

In 2015, he entered into a three-year sponsorship agreement with Calgary Opera and the building now bears his name. 

With files from Colleen Underwood