Altus Group Releases 2017 Construction Cost Guide
Visibility on Construction Costs Helps Assess Development Project Risks and Cost Predictability
TORONTO (January 25, 2017)–Altus Group Limited (ʺAltus Groupʺ) (TSX: AIF), a leading provider of independent advisory services, software and data solutions to the global commercial real estate industry, today released its annual Construction Cost Guide (the “Guide”), the foremost publication for the construction and development industry which assesses costs across all major Canadian cities.
“Overall Canadian construction volume remains strong. Residential, which accounts for approximately 40% of all construction in Canada, is anticipated to increase due to upward pressure and momentum in the sector,” said Michael Commons, Senior Executive Vice President, Cost Consulting at Altus Group. “With net international migration expected to rise in 2017, this factor along with continued employment and income growth should contribute to steady housing demand.”
Altus Group’s proprietary construction cost database consists of data representing $160 billion in total construction value. As Canada’s leading provider of independent cost consulting and project management services to the development industry, the Guide, along with Altus Group’s expert services and software solutions, is relied on by the industry to help ensure accuracy and predictability of construction costs and to assess project risks. The 2017 Guide includes:
- Estimated construction costs on a dollar per square foot metric by building type in the private and public sectors, and on a national basis covering all major Canadian markets
- Breakdown of costs by categories and different building types
- Commentary on market trends impacting the construction sector
“In conjunction with leading technology solutions such as ARGUS Developer and BIM-enabled software, our cost experts provide advice that allows clients to improve cost forecasting and achieve optimal results for their development projects,” said Naren Chande, Senior Executive Vice President, Cost Consulting at Altus Group.
For more than 50 years, Altus Group’s Construction Cost Guide has provided insight into comprehensive real estate costs covering all aspects of construction and development budgeting and modeling. With a thorough understanding of both the demand and supply sides of the real estate equation as well as a comprehensive knowledge of construction costs gained through Altus Group’s Cost Consulting practice, the Guide analyzes each market sector from a macro perspective.
The 2017 Construction Cost Guide can be downloaded at https://www.altusgroup.com/services/cost-guide/.
About Altus Group Limited
Altus Group Limited is a leading provider of independent advisory services, software and data solutions to the global commercial real estate industry. Our businesses, Altus Analytics and Altus Expert Services, reflect decades of experience, a range of expertise, and technology-enabled capabilities. Our solutions empower clients to analyze, gain market insight and recognize value on their real estate investments. Headquartered in Canada, we have approximately 2,300 employees around the world, with operations in North America, Europe and Asia Pacific. Our clients include some of the world’s largest real estate industry participants across a variety of sectors. Altus Group pays a quarterly dividend of $0.15 per share and our securities are traded on the TSX under the symbols AIF and AIF.DB.A.
Jeff HaywardHaywardVice President, Global Marketing & Communications