Greater Toronto Marketing Alliance prepares for
Australian Developers and Investors targeting Investment Opportunities
in the Greater Toronto Area
For Immediate Release
(Toronto, September 15) In little over two weeks, from October 2-6, Toronto and area will receive an important delegation of senior development and investment executives from “Down-Under,” looking to invest in and share
their unique development expertise in the Greater Toronto Area (GTA). Among the visiting delegation are some of the main financial, real estate and development firms who have successfully built Australia's impressive waterfront revitalization projects in Sydney and Melbourne.
“These companies are traveling halfway around the world because they have heard about the incredible opportunities across the GTA, including Toronto’s Waterfront,” said Richard Kohler, Canada’s Consul General in Sydney.
Armed with information about GTA real estate and investment opportunities, a delegation comprising senior representatives from TEDCO, GTMA and Gowlings traveled to Australia in June, carrying invitations from Mayor David Miller and other GTA Mayors, inviting the Australian real estate investment and development community to visit the Toronto Region.
“The response has been absolutely tremendous. We have attracted global experts from Australia in the field of urban waterfront development, world-renowned for their excellence in urban design, innovation, economic impact and environmental sustainability,” said Bob Onyschuk, Partner, Gowling LaFleur Henderson LLP and a Partner of the GTMA.
One of these urban redevelopment leaders will be John Tabart, CEO of Melbourne’s exciting Docklands
development, who will be speaking at the Toronto Board of Trade on October 5, with John Campbell, President and CEO of the Toronto Waterfront Revitalization Corporation (TWRC) and Jeffery Steiner, President of TEDCO. In addition, a special presentation by Australian developers will take place at a Canadian Urban Institute event on October 4, sharing their insights and lessons learned on the spectacular success of Australia's revitalization projects.
“These Australian executives are keen to meet local developers from across the GTA to develop potential joint
venture partnerships and to begin to invest in Toronto’s waterfront and in other significant projects in the GTA” said Karen Campbell, President and CEO, GTMA.
In addition to invaluable expertise, many of these Australian delegates may also potentially be bringing new sources of funds. "There is a surfeit of investment capital, largely pension-based, in Australia at this time, with diminishing opportunities for placement, especially in land-based assets with a downturn in real estate prices and shrinking margins. At the same time rules restricting investment overseas of pension funds have been relaxed," explains Jeff Blackstock, Consul and Senior Trade Commissioner in Sydney.
“Australians have invested in Asia, Europe and in the U.S. but they are now considering investing in Canada, such as in Toronto’s waterfront and in projects throughout the region,” added John Jung, GTMA’s VP of International
"We welcome interest from international developers and investors as we start the 30 year build out of the waterfront. Private sector investment will be key to the successful revitalization of the waterfront,” remarked John
Campbell, President and CEO of TWRC. The group will be briefed by TWRC and given a tour of the West Donlands and East Bayfront Precincts, which are coming on stream shortly.
Additionally, the City of Toronto plans to show the delegation of decision makers and movers and shakers from Australia’s real estate and investment community many other “signature sites” in Toronto.
In addition to Toronto development sites, the delegation will travel throughout the GTA by invitation of the Mayors of Burlington, Markham and Clarington. “We are keen to show the delegation from Australia that growing
communities like Burlington also have waterfront opportunities for international investors,” said Don Baxter,
Executive Director of the Burlington Economic Development Corporation. In addition to development opportunities, these companies are investigating new retail opportunities, affordable housing and green development possibilities.
The program is organized by the Greater Toronto Marketing Alliance in partnership with Gowlings, TEDCO, City of Toronto Economic Development, TWRC, Canadian Consulate in Sydney, ABN AMRO, Austrade, Macquarie, Deloitte, Province of Ontario, International Trade Canada, Air Canada, Westin Harbour Castle Hotel, Mariposa Cruise Line, Toronto Hydro, Royal LePage Commercial Inc., Jones Lang LaSalle, Bell Canada, City of Burlington, Town of Markham, Town of Richmond Hill, Region of Durham, Region of Halton, Canadian Urban Institute, UDI, CIPREC and the Toronto Board of Trade.
About the Greater Toronto Marketing Alliance:
The GTMA is a public-private partnership between the 29 municipalities and regions in the GTA, together with the Provincial and Federal governments, other non-profit organizations and a broad cross section of private sector corporations. The Greater Toronto Marketing Alliance (GTMA) is the key point of contact for exploring business opportunities in the GTA. With the resources of its public and private sector partners, the GTMA provides essential business information and site selection services to facilitate investment in the Greater Toronto Area. For more information visit: www.greatertoronto.org.
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In the Greater Toronto Area:
John G. Jung
Greater Toronto Marketing Alliance
Consul and Senior Trade Commissioner
Canadian Consulate General