Buildings - An insane amount of work / growth for IBI GroupSo, although I don't live in Toronto, I am originally from the GTA....and always have my eyes on real estate values due to particular investments.
I keep waiting for the bubble to just stop growing (I don't believe it'll burst due to immigration) and it just won't stop. It can't stop.
I have been seeing IBI mentioned in one project after another lately. Even more so than normal. I thought it might be annecdotal. Hell, it doesn't look like it is. IBI has their hand in so many projects, it's rediculous. In fact,
it would appear that they're doing over 2X the business in the GTA vs. what they were doing just 2 years ago. Furthermore, the
2nd half of 2021 it looks like their Buildings business has just sky-rocketed. Source and source data is below. This is more than annecdotal.
2021-Q4 performance and backlog in buildings could be ...wow...you fill in the blanks.
CR. I went to the UrbanToronto.ca website and checked who's involved in building develpment/design all accross the GTA. I looked at their archives back ~0.5, ~1 and ~2 years ago. Below are the number for IBI-tagged projects.
DEC 2021 - 248 Projects Total 50 Complete, 57 Under Construction, 140 pre-consruction and 1 on-hold.
May 2021 - 175 Projects Total 39 Complete, 43 Under Construction, 92 pre-consruction and 1 on-hold.
DEC 2020 - 147 Projects Total 32 Complete, 42 Under Construction, 72 pre-consruction and 1 on-hold.
JUL 2019 - 115 Projects Total 27 Complete, 28 Under Construction, 59 pre-construction and 1 on-hold.
Source:
www.urbantoronto.cadatabase/companies/ibi-group