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Canada’s construction market in optimistic mood, says industry insider

Positive sentiment due to foreign investments, VP, Acme Engineering and GlobeOwl Solutions, says

| | Jul 12, 2018 | 1:41 pm
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Montreal, Canada, 12 July 2018: There is a general mood of optimism in the construction industry in Canada, said Robert Presser, Vice President, Acme Engineering and GlobeOwl Solutions, a Canada-based HVACR solutions provider. Presser said this is largely owing to the sustained low interest rate, which has led to the development of multi-unit residential units, from Vancouver to Toronto. “Now,” Presser said, “there is significant out of country investment coming from outside the market, keeping the demand high, beyond what you would expect from the organic product.”

In Montreal, Presser added, the development of condos far exceeds the growth of the population, which has only been a meager “one-and-a-half per cent”. “How are we putting so much?” Presser asked. “Truth is, you have foreign money coming in, same as the foreign money boosting investment in Toronto. In general, both commercial and residential are doing well, even though you had a downturn in oil that affected investment in the western provinces and more or less in Alberta.” In general, Presser says, the market is in good shape.

 

Hannah Jo Uy is Assistant Editor at Climate Control Middle East magazine. She may be contacted at hannah@cpi-industry.com

 


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