Vancouver developers lay off staff, sell off assets as condo industry decline continues
Vancouver’s real estate industry had a great run at the height of the pandemic, but three years on, major marketers and developers are laying off staff and selling off assets.
The most recent is Wesgroup Properties – developer of the master-planned community River District – which announced the layoff of 12 per cent of its staff last week. Prior to that, condo marketing company Rennie Group announced the layoff of 25 per cent of its staff.
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