CPABC Industry Update Summer 2015 - BC Real Estate Industry | Page 17

Industry Update: The real estate and
development industry has been a key
driver of the BC economy for many
years. Do you see this continuing?
Lim: Yes – Metro Vancouver has been one of the strongest

real estate markets globally over the last 10 or 15 years,
and despite ongoing caution, there aren’t signs of this
trend changing. Immigration and investment of foreign
capital seeking security in BC’s stable market are the most
obvious factors, but the resilience and growth of our office
market is also notable, particularly for technology and
other knowledge-based companies.

Industry Update: The commercial real
estate market in BC has seen huge
growth in the last couple of years with
many new office and retail spaces
opening in 2015-2016 — such as Telus
Gardens and Pacific Centre/Nordstrom
— and the growth we’ve seen in Surrey.
How