Industry News
Women welcomed on boards, less so in C-suites
New analysis from Morningstar DBRS charts the changing gender split of senior leadership at 11 TSX-listed real estate entities between 2010 and 2022.
Nova Scotia solicits solar power providers
The application process is now open for prospective developer/owners who would be expected to enter a power purchase agreement with Nova Scotia Power and sell power subscriptions to consumers.
Water next up for environmental data standards
Water is the next metric the Open Standards Consortium for Real Estate (OSCRE) is tackling in its ambitious project to forge consistency in the management and reporting of environmental data.
New levy coming at Alberta land titles registry
A straightforward charge of $5 per $5,000 of value of transferred property and mortgage registration will come into effect to replace the current fee schedule for registering land titles.
All-male boards dwindling in real estate
In 2023, real estate made the best year-over-year progress in shedding all-male boards among the 11 industry sectors tracked in MSCI’s all-country world index (ACWI).
Urban trekkers not in the mood to spend
Colliers Canada’s overview of foot traffic trends reveals that discount retailers, quick service restaurants and free attractions typically recorded the largest uptick in visitor volume in 2023.
B.C. budget promises cost relief measures
B.C.'s 2024 budget introduces a 12-month electricity rebate, estimated at 4.6 per cent of annual consumption costs, and a six-year pause on property transfer tax for new purpose-built rental housing, beginning in 2025.
Ontario instructs LDCs on EV grid connections
New standardized protocol for connecting electric vehicle charging facilities to the power grid will introduce an optional free preliminary consultation for commercial/multifamily landlords and condo corporations.
Toronto strip plazas considered for tax discount
Nearly 30 per cent of Toronto strip plazas are in line for a property tax break if City Council approves the proposed new measure in its upcoming 2024 budget deliberations.
Investment shopping list considered for 2024
As more vendors and purchasers are expected to come to the market this year, Avison Young's sentiment data shows retail, multifamily and industrial assets are sought, while office is tapped for divestment.
Hotel sector projected to post modest growth
After a year of occupancy gains and buoyant earnings, the Canadian hotel sector is projected to experience more modest, but continued growth in 2024.
Year-end retail rents show little slippage
Retail rents rose or remained steady across most formats during the second half of 2023 with slippage confined to a few street-based, downtown shopping districts in large Canadian cities.
BOMA Canada seeks technical advisors
The Building Owners and Managers Association of Canada is seeking 12 industry-based technical advisors to guide development of standards and strategies to advance proficient real estate operations.
Research uncovers risks of generational prejudice in the workplace
Beliefs about generational stereotypes create risks for organizations that rely on them for making talent decisions.
Industrial supply influx loosens Q4 market
Last year brought 9.5 million square feet of positive absorption alongside the delivery of 34.4 million square feet of newly constructed industrial space across 13 Canadian markets.
National office vacancy rate continues to climb
Toronto was a major contributor to the rising national office vacancy rate in the fourth quarter of 2023, which ticked up to 18.3 per cent despite positive absorption in Calgary, Edmonton, Vancouver, Ottawa and Halifax.
Morguard to divest hotel portfolio
Morguard announced plans to sell a portfolio of 14 hotels located across Ontario and Nova Scotia.