Ottawa Office Market Embraces New Opportunities Amid Change

Ottawa's office market faces uncertainty as federal return-to-office mandates remain unclear, with citywide vacancy steady at 12.8%. While some owners expect slow recovery, others, like Groupe Mach, pursue redevelopment and diversification strategies, including converting office buildings to residential towers. Ottawa’s tech sector, especially in Kanata, sees rising vacancies but also new tenant interest. Potential growth may come from military, defense, and banking sectors seeking office space.