Articles tagged with "Forecast"

Home sales and prices in the Toronto area have declined in October compared to the previous year. The decrease is attributed to ongoing economic uncertainty according to the city's real estate board.

Ontario has commissioned a study to explore the feasibility of a new energy corridor that would transport Western Canadian oil and gas to southern Ontario refineries and export routes via James Bay, Hudson Bay, and the Great Lakes. This initiative aims to assess the potential for a cross-country pipeline to enhance energy distribution in the region. The project was announced on Monday, with a focus on improving connectivity and export capabilities.

The Auditor General has raised concerns about the Lansdowne 2.0 project, particularly regarding the construction cost estimation, which amounts to $418.8 million. These costs include a contingency reserve. The project requires thorough evaluation to ensure financial forecasts are accurate.

Algoma Steel’s CEO, Michael Garcia, indicates that the company does not expect a full return to the U.S. market even if trade deals are reached between Canada and the U.S. While a resolution could improve profit margins, the past market dynamics are unlikely to be restored. Garcia, who will retire at the end of the year, remains cautious about the company's future U.S. market engagement.

The Ontario government has awarded a contract for a feasibility study to explore the construction of a Canadian East-West pipeline and energy corridor. The study will be conducted by an advisory team comprising GHD Limited, Ernst & Young LLP (EY Canada), Mokwateh, AtkinsRéalis Group Inc., Wood PLC, and Turner & Townsend Limited. Infrastructure Ontario will oversee the project. The announcement suggests potential development plans for enhancing Canadian infrastructure and energy distribution.

Infrastructure Ontario has published its October 2025 Market Update, detailing over $30 billion in significant infrastructure projects planned for the province. This update is released as Infrastructure Ontario celebrates its 20th anniversary. The organization focuses on facilitating major construction projects across Ontario.

A report by the Building Industry and Land Development Association found that new condo sales in the Greater Toronto Area (GTA) have dropped by 44% in September compared to the previous year. This significant decline saw only 155 new condo units sold last month. The drop highlights ongoing challenges in the GTA's housing market. Analysts are examining factors such as rising interest rates and economic uncertainties that could be impacting sales.

The Canadian Concrete Expo, the largest trade show in Canada dedicated to concrete construction, is planning to expand by 20% for its 2026 event. This expansion is a response to the increasing demand in Canada's construction industry. Scheduled for February 11-12, 2026, the expo aims to better accommodate exhibitors and attendees reflecting the sector's growth.

Infrastructure Ontario's October Market Update celebrates its 20th anniversary by detailing 25 projects in pre-procurement and active procurement stages, totaling over $30 billion in design and construction value. Additionally, the update highlights 20 government-announced initiatives in early planning. The report also reiterates the ongoing challenges posed by tariffs.

Canadian construction economists are urging the federal government to reform its approach to address the Canadian housing crisis and enhance investments in infrastructure. The Canadian Institute of Quantity Surveyors (CIQS) has highlighted inefficiencies stemming from the lack of government engagement with industry professionals. While acknowledging the government's $13 billion investment in Build Canada Homes, they emphasize the need for mechanisms to ensure the efficient use of funds. The construction sector is a significant part of Canada's economy, representing 7.5% of GDP and employing over 1.6 million Canadians.

B+H Architects has filed for protection under the Companies' Creditors Arrangement Act in Canada due to significant financial challenges stemming from a project in the UAE. The court-supervised agreement allows them to continue operations while exploring sale and investment options, including a stalking horse agreement with Surbana Jurong Holdings. The firm faces financial strain due to a $25 million CAD arbitration award in the UAE and the cancellation of large projects amid economic headwinds. The hearing for the sale agreement is scheduled for October 27, 2025.

Toronto has traditionally been the leading city in Canadian housing markets, consistently ranking first in unit starts for many years. The city’s strength in this sector often sees its figures equaling those of the second and third cities combined. Recent data suggests a significant shift in housing start numbers across various Canadian cities, indicating potential changes in market dynamics.