BTY Group's Market Intelligence Report Forecasts Stable Growth, Minimal Price
VANCOUVER, Jan. 8, 2013 /CNW/ - Private sector investment in new
non-residential construction will complement healthy residential activity to
keep construction workloads stable with minimal price increases in B.C. for
2013, according to BTY Group's annual Market Intelligence Report on
construction costs across Canada.
"Major new investments in commercial-retail as well as mining and energy will
lead the way in BC," said Joe Rekab, Managing Partner at BTY Group. "The
province's residential sector, bolstered by continued strong in-migration,
will buck the national cooling trend. Metro Vancouver will see the highest
concentration of new commercial and residential activity."
Highlights from across B.C. include:
-- Five new office towers worth $1.6 billion are under way in
downtown Vancouver, with three major mall renewals in Metro
Vancouver under construction or in the planning stage.
-- Discount retailer Target is revamping 26 Zellers stores across
B.C. over the next two years at $10 million a store.
-- B.C.'s housing starts are projected to increase to 29,100 for
-- Encana/Apache are investing $4.7 billion in the Kitimat Liquid
Natural Gas Terminal and Pipeline
-- Rio Tinto/Alcan are moving ahead on a $3.3 billion
modernization of the Kitimat smelter.
BTY Group has been publishing its annual industry review of construction cost
forecasts across Canada since 2003. Over the years the Market Intelligence
Report has earned a reputation in the development, property and finance
communities for crucial insight on factors behind the changing marketplace and
reliable unit rate cost projections for the coming year. A full copy of the
report can be accessed on BTY Group's website at www.bty.com.
About BTY Group
With eight offices across the country and more than three decades of
experience in serving the construction and development industries, BTY Group
is one of Canada's leading providers of Cost Management, Project Monitoring
and Public- Private Partnership Advisory services.
Saira Muzaffar, Marketing & Communications Manager T: 416-596-9339
SOURCE: Independent Contractors And Businesses Association of BC (ICBA)
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CO: Independent Contractors And Businesses Association of BC (ICBA)
ST: British Columbia
-0- Jan/08/2013 16:00 GMT
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