TORONTO-Canada’s commercial real estate has traditionallymirrored the US markets, but during the past three years thecountry has pulled ahead with investment cash from oil fields inAlberta, and development going gangbusters because of the country’strusted debt handling. Two real estate leaders in the countryrecently talked with GlobeSt.com’s Robert Carr about Canada’scontinued confidence in 2012.

Brett Miller is leaving CBREto become president of Chicago-based Jones LangLaSalle’s new president of Canada operations. He tellsGlobeSt.com that the country’s investors have the capital to bid ongreat properties, with many investments outside, such as in theUnited States, Brazil, England and Germany. “If there’s any qualityproperty in Canada that comes available, such as Scotia Plaza,there’s generally a very competitive bidding environment,” Millersays. The landmark tower here could draw $1 billion for a sale.

Unlike the US, major Canadian markets are seeing massive amountsof construction activity in both office buildings and multifamilytowers. Downtown Toronto has about 4.5 million square feet of newoffice downtown this year, with another eight million square feeton the drawing board, according to a recent study by locally-basedAvison Young. In Alberta province, where the oil fields are, thereis almost $208 billion (yes, with a b) in major projects eitherrecently completed, under construction or proposed to start in thenext two years, about three-quarters of these near Edmonton.