Toronto Real Estate Boom impacting growth of retail sales and hiring.
New investment in retail properties owned by such Canadian giants as Oxford Properties, and Cadillac Fairview will add a total of 6.9 billion dollars to the section for the year 2014. The Retail sector as it is defined in Canada will contribute some 4.7 billion dollars in direct investment in upgrading new and existing real estate properties as well as promoting expansion of those said assets.
Retail Real Estate is one of the best performing asset subclasses within the industry and new investment should provide further future growth on those returns.
"As a real estate asset class there is no better investment than upscale or upmarket retail, and you will continue to see smart centers and mall owners continuing to reinvest in their prime properties, to growth the bottom line"
The ongoing investment of money to expand existing retail facilities in the Toronto area will give not only tenants the landmark presence they seek, but also give customers dynamic new shopping locations.
The ongoing operations of retail buildings also generated about $1.0 billion in building management fees and approximately $1.0 billion in commercial brokerage fees from sales and leasing of retail real estate sector properties.
Taken together, the construction and investment in retail buildings and the ongoing operation of these buildings make a substantial contribution to the Canadian economy, producing $18.3 billion in annual economic activity. These activities add to the economy in various ways by: