TORONTO — New home construction in Canada picked up in April, shaking off the effects of this year’s harsh winter, though economists still expect activity to cool gradually in 2014.
The seasonally adjusted annualized rate of housing starts rose to 194,809 last month from 156,592 units in March, data from the Canada Mortgage and Housing Corp showed on Thursday.
That surpassed analysts’ expectations for a gain to 175,000.
March’s housing starts were revised slightly lower from the 156,823 reported initially.
Over 1.7m sq ft of retail space, a rise of 61 per cent on the previous year, was lost in 2013 as developers sought to change under performing shops into other uses, with the North West accounting for more than a fifth of all space lost countrywide.
At first blush, the chart below tells the story of the demise of brick-and-mortar retail in the United States. "Nearly 140 million square feet of shopping center space was built in the U.S. between 2002 and 2008," says ChainLinks Advisors in its Fall/Winter 2013 Retail Review & Forecast.
Google will be dramatically expanding its New York City presence sometime in the near future. Crain's New York reported earlier this week that the search giant had signed on for 250,000 square feet of space at Pier 57, located on the west side of Manhattan.
What does Hong Kong offer retailers that Toronto doesn’t have? Apparently more room for expansion.
Hong Kong finished first in the world as the hottest market for attracting new retail entrants while Toronto had to settle for 17th, says a new study.
MUMBAI: Shares of Kishore Biyani-owned Future Retail surged over 18 per cent as it approved consolidation and realignment of retail operations with Bharti Retail on Monday. As per the scheme of arrangement, the retail business of Future Retail will be demerged into Bharti Retail. Meanwhile, the retail infrastructure business of Bharti Retail will be demerged into Future Retail. The deal will result in two listed companies which will operate in front-end & back-end operations.
BRAMPTON, Ont. — Choice Properties Real Estate Investment Trust plans to acquire a portfolio of 10 commercial and retail properties across the country for a combined price of $150 million.
Nine of the properties are being bought from Choice’s majority owner, Loblaw Companies Ltd. Two are located in Nova Scotia, six in Ontario and one in British Columbia, Choice said in a release Thursday.