Canadian commercial real estate hits highs

Montreal

CANADA'S commercial real estate market hit a record C$11.16 billion (S$11.9 billion) in quarterly transaction volumes and is on track to reach new highs for the year, as investors' hunt for yield and gains in the oil-producing province of Alberta bolster activity, real estate services firm CBRE Limited said on Monday.

A recovery in oil prices and a few large transactions helped Calgary post its best third quarter in over two years with C$1.2 billion in investment and a rise in activity in the hard-hit, commodity-driven city, CBRE wrote in a report.