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TORONTO—Through the first half of the year, Canada has continued its run of strong growth, due in part to its conservative banking and lending practices and to Western Canadian growth by oil and gas firms.

Unlike the US, major Canadian markets are seeing massive amounts of construction in both office buildings and multifamily towers. Downtown Toronto has about 4.5 million square feet of new office space this year, with another eight million on the drawing board, according to a recent study by locally based Avison Young. In Alberta province, where the oil fields are, there is almost $208 billion in major projects either recently completed, under construction or proposed to start in the next two years.

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