Brian McCallion
Bus:
250-979-0570
Cell:
250-215-1763
Fax:
250-448-4973
Email:
brian@
eaglerealestate
investments.com
Address:
Box 22108
Capri Post Office
Kelowna, BC
V1Y 9N9
...helping you achieve your financial goals
“It’s tangible; it’s solid; it’s beautiful; it’s artistic. I just
love real estate.”
- Donald Trump,
Real Estate Magnate
“Land increases more rapidly in value at the centers
and about the circumference of cities.”
-William E. Harmon,
Noted realty operator
Edmonton is rated number 1 of the Top Ten Cities in all of Canada by the Real Estate Investment Network.
Edmonton is rated number 1 city in Canada for economic momentum by CIBC World Markets. Nine key macroeconomic variables and drivers of economic growth comprise the index used. (December 3rd 2007)
Alberta’s oilsands are the world’s largest known petrocarbon source and estimates of 176 billion barrels are recoverable with today’s technology. It’s estimated that there could be 2 trillion barrels or more buried deeper underground. Clive Mather, Shell’s chief says “This is a very, very big resource”. That would be 8 times the amount of reserves in Saudi Arabia!
A staggering $237 billion worth of major capital projects are currently in the pipeline on a province wide basis, with $148 billion or more than 62% in oilsands investment.
Edmonton is the closest major centre to all of the oilsands projects in Northern Alberta. It is the staging area for equipment, transportation, services and labor for these projects.
The projects are choosing the Edmonton region because it has a large skilled workforce, strong social services, the capacity to expand and organized growth planning by Edmonton and the municipalities adjacent to the city.
Shell forecasts that “the cumulative construction workforce is expected to remain high at more than 8,000 workers, from mid 2008 to early 2013 with a peak of about 13,300 workers by the end of 2011”.
According to the City of Edmonton, the region’s population will grow by up to 200,000 over the next 10 years and 140,000 or 70% of the new residents will settle in the city.
According to CMHC, Edmonton’s vacancy rates will drop to an unbelievable 0.5% in 2008, due to strong demand from newcomers and a shortage of new units entering the market. Low vacancy rates means a tight rental market and rents will have to increase accordingly.