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Architectural Design  

Canada's commercial construction hits 3 year high

 Commercial construction enjoys a three-year high
 
 

Official figures released by Statistics Canada this week showed that spending in commercial and industrial construction has hit a three year high.

In the last two quarters, spending in the two sectors was the highest since the final quarter or 2008 across every Canadian province, with the exception of Prince Edward Island and New Brunswick.

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Investment in commercial building projects amounted to CAN$6.7bn between April and June.

The biggest investment over the years was made in central Canada, with the largest gains found in Alberta, Ontario and British Columbia.

Non-residential spending also enjoyed a rise in the second quarter, enjoying a rise of 1.8 percent to CAN$11.2 billion.

The Royal Institution of Chartered Surveyors attributed the rise to strength in Canada’s banks, which has allowed commercial construction to remain relatively buoyant despite the economic downturn.

Himanshu Wu, an RICU economist told the Architects Journal: “This, added to the current low interest rate environment, has led to easy availability of low cost debt for builders and developers.”

It is believes that Canada’s exceptional record of financial performance in the last few years has attracted a number of US and international architectural practices in pursuing work in the country, such as Aedas and Ingenium.

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