OTTAWA, Ontario, Aug. 31, 2015 /CNW/ -- According to a new report released by housing authority, Canada Mortgage and Housing Corporation (CMHC), Ottawa's housing market faces a low risk of market correction. The low risk is indicative of both strong growth in house prices in recent years and modest increases in personal disposable income.
Ottawa-based Sakto Corporation President Sean Murray issued the following statement regarding the report:
"This is very positive news for the Preston Street area where Sakto Corporation is headquartered. There are hundreds of condominiums near completion or under construction, including Claridge's 47-storey Icon tower at Carling and Preston Streets," stated Sakto Corporation President Sean Murray.
"Several other projects have been approved for construction, including a three-tower development at the former Dow Honda site that will boast a 55- and 45-storey tower," Murray continued.
Learn more about CMHC's report here.
Sakto Corporation is a privately owned and operated real estate holding and investment firm founded and located in Ottawa, Canada. Throughout its three decades of operation, Sakto Corporation has remained true to its core standard of excellence and integrity. Company President Sean Murray has enhanced Sakto Corporation's portfolio and reputation, including the construction of phase one of Preston Square in 1989. Located in the heart of Ottawa's Little Italy, this project was awarded 2010's BOMA's Building of the Year for Preston Square. Today, the company owns and manages multiple property holdings and is renowned as one of the nation's capitals foremost property facilitators. Jamilah Taib Murray is the Chairman.
SOURCE Sakto Corporation
For further information: Brian Murray, Director of Leasing and Business Development, Sakto Corporation, [email protected], (613) 230-3434 ext. 237, http://www.sakto.com