Toronto Region Board of Trade and CBRE announce plans to develop the World Trade Centre Toronto

TORONTO, ON, September 20, 2017 - At the launch of World Trade Centre Toronto (WTC-T) this evening, Toronto Region Board of Trade President & CEO Jan De Silva announced a Request for Expression of Interest (RFEOI), in partnership with CBRE Canada, for the construction of a World Trade Centre Toronto building.

Our vision is to create an ecosystem of tenants who support trade services including consulates, government trade and funding organizations, corporate and professional services providers,” said Jan De Silva, President & CEO, Toronto Region Board of Trade. “Canada and the Toronto region are capturing the world’s attention. This iconic building will provide a gathering place for international business, connecting buyers and sellers, investors and leaders, to take the Toronto region to the world.”

The World Trade Center name is attached to some of the most iconic buildings of city skylines around the globe: Bahrain, Seoul, New York, Shenzhen and Sao Paulo. This development will be an iconic contribution to Toronto’s skyline and will advance the Board’s vision to position Toronto as Canada’s global champion.

“Toronto is currently experiencing one of the most dynamic office markets in history, and this project will add to the impressive growth of recent years,” said Werner Dietl, Executive Vice President and GTA Regional Managing Director of CBRE Canada. “Our downtown office market has become a global standout with the lowest vacancy rate of any major North American city. This speaks to the growing economic vitality of Toronto and we’re excited to be partnering with the Board of Trade to help deliver a World Trade Center that benefits the entire region.”

At 3.8 per cent as of Q2 2017, Toronto’s downtown vacancy rate has dropped below four per cent for the first time on record.  In a sign of the market’s strength, its vacancy rate comes in well below San Francisco, 6.7 per cent, which is the next lowest of any major North American market.

The process of securing a partner to develop World Trade Centre Toronto is open to the global commercial real estate community. Each proponent must control either the land or building(s) being put forward for consideration.

World Trade Centre Toronto’s launch kicked-off with the release of Priority Export Markets for Toronto Region Industries, a strategic blueprint guiding the curation of outbound missions for the region’s business community and inbound trade missions for partner agencies.

Positioning the Toronto region as a global champion starts with your growth
The Toronto Region Board of Trade is one of the largest and most influential chambers of commerce in North America. Our constant flow of ideas, people and introductions to city-builders and government officials firmly roots us as connectors for—and with—the business community. We act as catalysts for the region’s growth agenda. Backed by more than 12,000 members, we advocate on your behalf for policy change that drives the growth and competitiveness of the Toronto region. We want Toronto to be recognized as one of the most competitive and sought after business regions in the world, and we believe this reputation starts with you and your business. To learn more about the Board and World Trade Centre Toronto, visit us at bot.com and follow us @TorontoRBOT.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

In Canada, CBRE Limited employs over 2,000 people in 22 locations from coast to coast. Please visit our website at www.cbre.ca.