Canada’s construction market shows strong variance across the country, driven by localized economic factors and targeted public-sector investments. In Alberta, the energy sector continues to thrive, driving major project investment and significant momentum in non-residential construction over the last few years. At the end of the recent tracking period, Alberta’s capital projects under construction totaled over $78.9 billion, an increase from $73.3 billion the previous year, with the industrial sector leading at 39.0% of projects, followed by infrastructure at 20.2%. While the benefits are unevenly distributed outside the energy sector and housing starts have declined from their peak to 47,000 annually, overall construction figures remain robust.
Meanwhile, Ontario’s market remains resilient. Industrial, commercial, and institutional (ICI) building permits reached $2.38 billion, driven largely by industrial construction, with Toronto contributing about 83% of that value. While Ontario’s homebuilding is anticipated to remain modest due to low housing demand, non-residential investments are expected to stabilize the market. This stabilization is heavily bolstered by a 16% increase in public-sector spending on major infrastructure projects, such as the Darlington Small Modular Reactor. Annually, Calgary recorded a cost increase of 4.12%, while Toronto sits at 4.47%.
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