ANOTHER EXCITING ISSUE FOR YOU!

On the front page of this issue, Mario D. Morroni, President and Chief Executive Officer of Cominar, is preparing to redeploy that renowned Québec flagship. With several large-scale real estate assets, a rejuvenated board of directors, a revamped management team and challenging projects underway, Cominar is beginning a new chapter in its history. In short, the firm is in growth mode.

Our series of articles on dynamic Québec real estate professionals presents the impressive story of Patrice Ménard and Sanaa Benzakour, co-owners and founders of the PMML agency. In November 2022, the two leaders of this agency received not one, but three awards of excellence.

Artwork in our buildings contributes to the well-being of employees, maintains the brand image for visitors, and is also an investment. Journalist Nathalie Savaria met with artist Stéphanie Goulet, who paints the most beautiful buildings in Montréal. Her works are increasingly adorning conference rooms, particularly those of Montréal's major developers, contractors and building owners.

To promote sustainable modes of transport, car-free neighbourhoods can be part of the solution. But what are the winning conditions? The Québec Institute for Urban Development recently unveiled a study on the subject and invited the mayors of Laval and Québec City to discuss their urban vision. Here is journalist Nathalie Vallerand's report.

You will find several other articles and columns of interest in our pages, not to mention the economic retrospective and the Top 60 recent real estate transactions, compiled by Altus Group.

In closing, I would like to welcome our new English-speaking readers, who are receiving the digital English version of Magazine Immobilier Commercial for the first time. I hope that you will enjoy, as we do, following real estate activity in Québec every two months, including news of its major players and business opportunities.

Enjoy your reading!

Jacques Boisvert Publisher

3 WORD FROM THE PUBLISHER Another

7 INTERVIEW

21 MEET THE ARTIST – STÉPHANIE GOULET

Chronicles

12 DATA + FACTS = SMART INVESTING Real Estate Industry – Year in Review 2022 Montréal and Québec City

26 SUSTAINABLE DEVELOPMENT

The G of ESG – How are good governance factors evaluated?

31 REAL ESTATE DATA Prudence is Advised

32 TOP 60 REAL ESTATE TRANSACTIONS

44 PROPERTY LAW Confrontation between a no-build easement and a municipal bylaw

50 WORD FROM THE IDU Real estate and climate change: It's happening... right in my backyard!

REAL

OVERVIEW Patrice Ménard and Sanaa Benzakour The

56 REAL ESTATE ANALYSES

Hydro-Québec’s supply plan – Managing new demand for Electricity

58 COMMON AREAS After the Storm

24 POINTE-NORD COMMUNITY ON NUNS’ ISLAND

Final phase of project now underway

36 HILO AND MACH PARTNERSHIP

Making a significant gesture for the planet

52 DELEGATION FROM GREATER MONTRÉAL AT MIPIM A must-attend business initiative for the real estate industry