TORONTO, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Altus Group Limited ("Altus Group" or the "Company") (TSX: AIF), a leading provider of asset and fund intelligence for commercial real estate ("CRE"), today released its 2024 Canadian Cost Guide, an annual assessment of real estate development and infrastructure construction hard costs across all asset classes in major Canadian cities.
For decades, Altus Group's Cost Guide has been relied on by the industry to help ensure accuracy and predictability of construction costs and to assess project risks. Drawing on an in-house database representing more than 5,700 development projects and over a 1.4 billion square feet collectively valued at over C$440 billion, the Guide provides ranges on hard costs covering all aspects of real estate development and infrastructure projects, including a detailed breakdown by asset class, city, and on a dollar per square foot or unit metric.
"Despite elevated interest rates and inflationary pressures, Altus Group's 2024 Cost Guide indicates that escalation in construction costs has stabilized," said Colin Doran, Head of Development Advisory, Americas at Altus Group. "It appears that the scales are tilting toward moderation of construction costs over the next 6 to 12 months, however, this equilibrium may be relatively short-lived as rapid population growth and a large backlog of projects will inevitably spur more development activity in key Canadian cities. Actively staying on top of construction costs is imperative to balancing project risks and returns."
A copy of Altus Group's 2024 Canadian Cost Guide can be downloaded here.
About Altus Group
Altus Group is a leading provider of asset and fund intelligence for commercial real estate. We deliver intelligence as a service to our global client base through a connected platform of industry-leading technology, advanced analytics, and advisory services. Trusted by the largest CRE leaders, our capabilities help commercial real estate investors, developers, proprietors, lenders, and advisors manage risks and improve performance returns throughout the asset and fund lifecycle. Altus Group is a global company headquartered in Toronto with approximately 3,000 employees across North America, EMEA and Asia Pacific. For more information about Altus Group (TSX: AIF) please visit altusgroup.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Elizabeth Lambe
Director, Global Communications, Altus Group
(416) 641-9787
elizabeth.lambe@altusgroup.com
