Calgary office market set for growth
A new report from JLL Canada predicts a boom in Calgary’s office market through to the end of the decade. The commercial real estate firm’s assessment of Canada’s major cities shows that Calgary in particular is likely to benefit from increased demand for office space from domestic and foreign businesses. The report assumes growth in the energy sector which is predicted to happen, despite current lower demand for oil in particular. JLL says that as economic predictions are for Calgary to lead Canada’s GDP growth through to 2020 more companies will want to be in the city that already boasts more head offices per capita than elsewhere in the country. The current permits being processed in the city would add 25 per cent to the city’s office inventory if all go ahead.