VANCOUVER (NEWS1130) – BC’s construction sector will be stable with minimal price increases this year, according to a consulting firm.

BTY Group says “private sector investment in new non-residential construction will complement healthy residential activity” this year.

Construction will be led by “major new investments in commercial-retail” in Metro Vancouver, plus mining and energy projects, says BTY’s Joe Rekab. He adds that BC’s “residential sector, bolstered by continued strong in-migration, will buck the national cooling trend.”

He notes that five new office towers worth $1.6 billion are underway in downtown Vancouver, plus three major mall renewals in the region that are under construction or planned.

Rekab also reminds us 26 Zellers locations will be renovated for Target.