Toronto The HUB | 258.46m | 59s | Oxford Properties | Rogers Stirk Harbour

canarob said:
renx.ca

Are Canada's banks on the brink of an office leasing spike?

Canada's banks could increase their office leasing by up to 1.5 million square feet in Toronto during 2026, Oxford Properties' Kevin Hardy predicted during the Real Estate Forum in Toronto. That would create additional demand for space among related sectors.
renx.ca renx.ca
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Another potential factor to add into the mix is the proposed DSRB (Defence, Security, and Resilience Bank) that will be owned jointly by NATO and non-NATO defence partners, which is currently looking for a host city. It was originally envisioned to be HQ’d in London, but the UK government has determined they don’t want to back the bank. The German government has also backed out and has voiced its preference for the EU SAFE funding mechanism. The institution is going to be provided support by RBC, JPMorgan, ING, Landesbank, and Commerszbank.

National Post is suggesting that a Canadian city is currently a frontrunner and Toronto, Montreal, or Ottawa are cities that will meet the criteria (close to embassies, recruit top financial talent, and have office space available). These cities are apparently working with the PMO to put their respective plans together. They are envisioning 3,500 staff which will require a significant amount of space. The city will apparently be picked in 2026.
 
Logo wouldn't look bad in the sky-cube

1765488650843.png
 
biospherian said:
AI is already replacing consulting and banking jobs so I'm not sure if there will be enough demand by the time this gets built.
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There is no reason to believe there won't be.

Canada's Banks are all resuming expansion mode, and most will likely have larger global footprints in 5 years time.
 
Northern Light said:
There is no reason to believe there won't be.

Canada's Banks are all resuming expansion mode, and most will likely have larger global footprints in 5 years time.
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Hmm I dont know about that really, they've been busy "restructuring" aka laying off workers lately. Most of their office growth will come from forcing people back into the office, for whatever "productivity BS" reason that they love to give:

TD:


Scotiabank:
financialpost.com

Scotiabank is laying off employees across departments

Bank of Nova Scotia has been laying off workers across its departments, but has not revealed how people have lost their jobs. Read on
financialpost.com financialpost.com


RBC:
www.ctvnews.ca

RBC cuts undisclosed number of staff amid 'growth strategy'

RBC says it has laid off some employees as part of its 'growth strategy.'
www.ctvnews.ca www.ctvnews.ca


But we do have this interesting play with Questrade who wants to come and play with the Big 6, as an actual full fledged bank:

ici.radio-canada.ca

Questrade secures approval to launch a bank in Canada | RCI

The move comes as other fintech companies also push more into the banking space.
ici.radio-canada.ca ici.radio-canada.ca
 
Amare said:
Hmm I dont know about that really, they've been busy "restructuring" aka laying off workers lately. Most of their office growth will come from forcing people back into the office, for whatever "productivity BS" reason that they love to give:

TD:


Scotiabank:
financialpost.com

Scotiabank is laying off employees across departments

Bank of Nova Scotia has been laying off workers across its departments, but has not revealed how people have lost their jobs. Read on
financialpost.com financialpost.com


RBC:
www.ctvnews.ca

RBC cuts undisclosed number of staff amid 'growth strategy'

RBC says it has laid off some employees as part of its 'growth strategy.'
www.ctvnews.ca www.ctvnews.ca


But we do have this interesting play with Questrade who wants to come and play with the Big 6, as an actual full fledged bank:

ici.radio-canada.ca

Questrade secures approval to launch a bank in Canada | RCI

The move comes as other fintech companies also push more into the banking space.
ici.radio-canada.ca ici.radio-canada.ca
Click to expand...

Do I have a track record for wild guesses? Am I wrong all that often? When everyone here or nearly everyone said....hybrid work is here to stay.....didn't I say 'No its not"?

I know.

;)

There's always a possibility things will not go as expected/planned; but deals are already afoot.
 
Civdis said:
Most people I deal with in the financial industry want to come to an office. Don't get me wrong, everybody likes flexibility, but the whole work from home craze is coming to an end.
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Craze? What a weird term. Everyone I know in different roles and industries doesn't want to come in and prefers a minimal office presence.

Y'all are just being cattle-carted onto the buses, subways and into cubicles because RTO is good for corporate profits, but not the people.

But everyone's got a mortgage, bills and poor job security, so the vast majority have no option but bend over and smile.
 
Undead said:
Craze? What a weird term. Everyone I know in different roles and industries doesn't want to come in and prefers a minimal office presence.

Y'all are just being cattle-carted onto the buses, subways and into cubicles because RTO is good for corporate profits, but not the people.

But everyone's got a mortgage, bills and poor job security, so the vast majority have no option but bend over and smile.
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So much gets lost in a work from home environment, collaboration, culture, mentorship, I could go on. Don't get me wrong, some jobs definitely do not require people in the office and maybe craze wasn't the best term to use, but I stand by my assertion that most corporations are moving to a "back to the office" structure. Trust me, they wouldn't be doing it if it didn't make business sense. Think of all the rent they could save.
 
Civdis said:
So much gets lost in a work from home environment, collaboration, culture, mentorship, I could go on.
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Ah yes, the usual buzzwords ;)
Civdis said:
but I stand by my assertion that most corporations are moving to a "back to the office" structure.
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They are, but it's because corporate profits benefit from RTO, nothing else.
 
Undead said:
Ah yes, the usual buzzwords ;)

They are, but it's because corporate profits benefit from RTO, nothing else.
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If 'corporate profits benefit from RTO" it is because people DO work 'better' or more effectively (or just 'more"!) if they see and interact with colleagues and mentors. WFH can actually save companies money on rent and office services' so any benefits are from the intangibles. That said, I am not arguing for 100% RTO as WFH certainly has intangible benefits (for employees).
 
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Undead said:
Y'all are just being cattle-carted onto the buses, subways and into cubicles because RTO is good for corporate profits, but not the people.
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I'm the antipode of a corporate apologist, but if you have a job, and your employer wants you in the office, then you need to be in the office if you wish to keep your job.
 
Undead said:
Ah yes, the usual buzzwords ;)

They are, but it's because corporate profits benefit from RTO, nothing else.
Click to expand...
You can call them buzzwords but that doesn't mean they aren't true. Aren't corporations created to make profits for their shareholders? The idea of capitalism is that capital flows to the best ideas and organizations, which should benefit society as a whole as we want the best ideas to rise to the top. Anyway, I think we are getting way off topic here, I do hope this project gets built soon.
 
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