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Stories Tagged - greg kwong

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Dec. 16, 2020 | Barb Livingstone

With little relief on the horizon, Calgary's downtown office market is expected to struggle well into 2021

Calgary's downtown office vacancy rate is going nowhere but up.

By the end of this year, that rate is projected to jump to 29.5 per cent, and it will climb even higher moving into 2021, says Greg Kwong, regional managing director with commercial real estate company CBRE.

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Jan. 10, 2020 | Barb Livingstone

The road ahead: Industry experts predict what 2020 might hold for Calgary real estate

Alan Tennant - CREB® CEO


There is nothing to indicate a major shift in the current
trajectory. I see cautious optimism among the development sector – they are not overbuilding in any sector – and that is a healthy sign. It comes down to consumer confidence. We have two elections behind us, which could have been destabilizing but weren't.

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Dec. 18, 2019 | Barb Livingstone

What they said in 2019: Industry experts share their thoughts on the year that was in Calgary real estate

Alan Tennant - CREB® CEO


The reality of our current market is it's the new normal and there is no reason to sit and wait for it to change. It is not a terrible market, it does have its good aspects.

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Nov. 29, 2017 | Gerald Vander Pyl

Thinking big

Commercial real estate investment represents unique set of challenges and rewards

Investing in commercial real estate could be considered the major league of real estate investment.
The skills required are greater, but so too are the potential rewards.

Greg Kwong, regional managing director for commercial real estate company CBRE in Alberta, says there is really no strict definition of commercial real estate – it can be a major office tower in downtown Calgary, a fourplex apartment building or anything in between.

CBRE managing director Greg Kwong said Calgary's commercial market is likely to see vacancy rates peak in 2017. Photo by Wil Andruschak/for CREB®Now
News

Dec. 23, 2016 | Cody Stuart

Core issues

Downtown office commercial market to see higher vacancy rates in 2017

Despite setting a third-quarter record with a reported $11.2 billion in sales, Calgary's commercial real estate sector will likely see vacancy rates continue to soar this year and next, predicts real estate firm CBRE Ltd.

CBRE Calgary-based managing director Greg Kwong said the downtown market will feel it the hardest, with vacancy rates that are expected to close in on 30 per cent.


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