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Canadian residential construction to continue recovery with 8.5 percent growth in 2024

December 23, 2023
in Business
Canadian residential construction to continue recovery with 8.5 percent growth in 2024
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Sarens and others help reduce costs and lead times to support overall expansion

By

Heavy Equipment Guide Staff

December 21, 2023

Canada’s construction sector is continuing its recovery towards pre-2020 growth figures, and in 2024 is expected to employ more than 1.2 million people, equivalent to 7 percent of the entire Canadian workforce.

A report by Randstad suggests construction investment will increase by more than 8.5 percent to US $354.9 billion, despite a mild contraction at the end of 2023 projected by the consultancy Linesight due to material supply issues and inflation-driven price increases.

Companies such as crane rental and contracting specialist Sarens are lending a hand to the industry during a period when price increases and material delivery delays have led to an approximately 80 percent setback in completion times. Sarens says its efforts help in reducing costs and lead times through its work and planning.

Sarens recently took part in dismantling a tower crane used by Oxford Builders on a new apartment complex in Guelph, Ontario. Located on one of the city’s main arteries, the development will contribute to the renewal of residential space in the region and, at the same tie, to the decarbonization of buildings driven by the Green Buildings Strategy included in Canada’s 2022 federal budget.

For this project, Sarens undertook a major pre-planning study to define precisely where the crane unit used, a Liebherr LTM 1500, should be positioned, as well as where each of the seven loading and unloading operations should be carried out. This ensured that the dismantling of the tower crane would be done in an orderly fashion, without safety risks, and without any impact on traffic in the area.

In total, it took Sarens 10 hours to complete the entire operation, including the move from its Cambridge, ON, branch to the site, the deployment of the 276-foot crane boom, and loading of the crane components, weighing approximately 30,000 pounds.

“This is a momentous time for the construction industry in our country. We are pleased that Sarens can bring over 60 years of international experience to the projects we are involved in, so that they can have a positive impact on our community, both in terms of employment and decarbonization,” said Luke Goodfellow, area manager with Sarens. “We will continue to work to ensure that our involvement also translates into a reduction in the costs associated with our tasks.”

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Copyright for syndicated content belongs to the linked Source : HeavyEquipmentGuide.ca – https://www.heavyequipmentguide.ca/article/41219/canadian-residential-construction-to-continue-recovery-with-85-percent-growth-in-2024

Tags: businessCanadianResidential
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