Latest news with #AdrianSmith
Forbes
3 days ago
- Business
- Forbes
The OBBBA And Beyond: House Republican Details GOP Tax Agenda
UNITED STATES - JANUARY 10: Rep. Adrian Smith, R-Neb., participates in the House Republicans press ... More conference following their caucus meeting in the Capitol on Tuesday, January 10, 2023. (Bill Clark/CQ-Roll Call, Inc via Getty Images) In this episode of Tax Notes Talk, House Ways and Means Committee member Adrian Smith, R-Neb., discusses the One Big Beautiful Bill Act's accomplishments and what could be next for Congress on tax. Tax Notes Talk is a podcast produced by Tax Notes. This transcript has been edited for clarity. David D. Stewart: Welcome to the podcast. I'm David Stewart, editor in chief of Tax Notes Today International. This week: majority view. It's been almost a month since President Trump signed the One Big Beautiful Bill Act into law, a massive tax package championed by Republicans in Congress. To get an insider's view of this bill, we've been sitting down with current members of Congress on the House Ways and Means Committee. Last week, we talked with Representative Steven Horsford, the leader of the New Democrat Coalition's tax task force. You can find a link to that interview in the show notes. This week, Tax Notes Capitol Hill reporter Cady Stanton interviewed Representative Adrian Smith, a Republican from Nebraska, to discuss the new tax law and the Republican Party's priorities. This episode is part of an ongoing series on the One Big Beautiful Bill Act, and as we continue to dive deep into the most important tax changes and provisions in the coming weeks, or even months, we'd like to hear from you. If there's an aspect of the bill that you'd like to hear more about, please email us at podcast@ Now I should note before we get started that, due to some scheduling issues, we had limited time with Representative Smith, but Cady made the most of it. Let's go to that interview. Cady Stanton: Congressman Smith, thanks for joining us. Rep. Adrian Smith: Thank you. Great to be with you. Cady Stanton: I know you and your colleagues have been working on this tax-focused reconciliation bill for months — if not years — leading up to the bill's passage and the scheduled expiration for large swaths of the Tax Cuts and Jobs Act. Could you talk a little bit about the culmination of that work and what you were able to accomplish in this bill? Rep. Adrian Smith: Well, the bill, as you said, it's a result of many years of preparation. I even include the preparation that went into the 2017 TCJA. That was particularly important. Doing our homework, I was asked to head up a financial services working group by then-Chairman Dave Camp. All that process has been, I think, very instructive. Then certainly, as TCJA was carried out and deemed to be very effective — even a lot of our Democrat colleagues supported that — last year in a lot of those business provisions, in addition to the family provisions. Cady Stanton: One aspect of the bill that changed between the House and Senate versions leading up to final passage was the treatment of clean energy tax credits from the Inflation Reduction Act. Do you think the changes that were made in the final bill are set in stone, or is there any appetite to maybe go back and adjust the phaseouts set by the bill, either with more or less severe restrictions? Rep. Adrian Smith: Well, I suppose we could relitigate a lot of things that we do, but I think it's important that, as we do move forward — number one, there's, I would say, a lot of controversy on, say, wind and solar. And not just tax credits, but the actual construction of those projects in various jurisdictions. Certainly, my district included. Building solar farms in the middle of the country, that doesn't make a lot of sense, especially when so many taxpayer dollars are involved as well. I try to keep an open mind as to how we can think about innovation moving forward. Obviously, sustainable aviation fuel — that has shown some promise. I try to look at everything on their merits, all the issues on their merit, and take them one at a time. But also, passing legislation should have some meaning moving forward, and I would imagine that there will be an effort to change that at some point, but I would have a hard time thinking there would be a lot of support for something that's much different than what we passed. Cady Stanton: Pivoting more to the international tax side here — section 899, also referred to as the revenge tax, made a lot of news when it was included in the House bill, and subsequently removed following the announcement about this agreement between the United States and other G7 countries. How do you see the future of that kind of retaliatory tax measure? Is there a chance it returns, depending on how work with the OECD progresses or faces hurdles? How do you see that playing out? A participant stands at the OECD headquarters in Paris during the presentation of the Economic ... More Outlook at the 2013 OECD Week on May 29, 2013. AFP PHOTO ERIC PIERMONT (Photo credit should read ERIC PIERMONT/AFP via Getty Images) Rep. Adrian Smith: Well, I think we heard a message from our trade partners, for example, other countries, friendly countries, certainly, that they want to cooperate with us. We don't want U.S. companies penalized and I think we want to send that strong message. We'll see; we'll keep our options open moving forward, depending on how other countries and what their posture ends up being as we do move forward. Cady Stanton: Staying in that area, you also serve as the chairman of the Ways and Means subcommittee on trade. Could you speak a little bit to how your caucus and your party were able to balance addressing international tax in the bill, and the knowledge of the ongoing tariff plan by President Trump that was occurring at the same time? Rep. Adrian Smith: Sure. There's such a stark contrast, in terms of trade agenda. The Trump administration, even going back to the first administration, [had] a very vigorous trade agenda that was interrupted by President Biden, who didn't really have a trade agenda. I'm not a fan of tariffs. I understand they're a tool in the toolbox. I certainly would not want to codify tariffs in the law. Yes, some are saying that it delivers some revenue that we could work with on other parts of legislation. But I think as the president moves forward, we've seen other countries now coming to the table. I was told not that long ago by the U.K. that agriculture was just not within reach. That is changing. I'm happy to say that that posture seems to have changed. We have seen a good bit of movement in the right direction, beef and ethanol being a couple of those things that have shown very positive developments. As the president continues to negotiate trade with other countries, I think the president understands that for something to last beyond his administration, Congress will need to codify that. I think that that's to be expected; we'll see how those agreements come together. I appreciate the fact that trade is a priority. I think we suffered greatly when trade was not a priority under the previous administration, especially when President Biden had an opportunity to do more and chose not to. Especially — it's a little bit rich as we hear the opposition say President Trump's proposed tariffs — the Democrats are opposed to that and yet chose not to do anything when they had full power to do so. Well, on that topic and maybe a few others, too. I'm not a fan of codifying tariffs in statute. Let's have the president negotiate a deal, and then should there be the votes in Congress to codify that moving forward, that could be a good opportunity to establish good trade partnerships around the world. Cady Stanton: One provision that wasn't able to hitch a ride on this bill is a tax agreement with Taiwan, which had previously passed the House but not made it through the Senate. Is that something that you think might be able to get over the finish line this Congress? How much of a priority is it for you and other House taxwriters? Rep. Adrian Smith: Well, I think that issue has had some bipartisan support. I go back to when then-Speaker [Kevin] McCarthy led the gathering with the president of Taiwan in California at the Reagan Library. Incidentally, that was a very bipartisan event. I certainly told my Democrat counterparts that I appreciated their participation with that. There's good bipartisan agreement there. I would think it's something that can be addressed moving forward. Cady Stanton: Last week, we spoke with your colleague on the tax committee, Representative Steven Horsford [D-Nev.], about the New Democrat Coalition's tax priorities. From your perspective, how would you articulate Republicans' main tax priorities, especially within the context of what you've recently advanced with the One Big Beautiful Bill? Rep. Adrian Smith: I'd say freedom and opportunity. Opportunity for everyone. When I look at the various parts of the bill, there's something for everyone. I think that when we want to encourage investment and productivity, that's what we saw very successfully done with TCJA, so we want to see that moving forward as well. I know that there was a lot of discussion — my colleague Mr. Horsford, he was talking about people making $2.13 an hour. I want the record to reflect that that doesn't happen. Tips are involved. Yes, a tipped wage, but an employer must ensure that an employee must be paid the overall minimum wage, not just the tipped minimum wage at the end of that pay period. I want the record to reflect that. The president had his priority: tax relief for tip earners, tax relief for seniors. We had the guardrails of reconciliation that we had to work with, say Social Security aspects and so forth. We weren't able to have full rein over all that policy, but I think we settled on a really good place that offers tax relief for hardworking Americans. I think they will feel that very soon. Cady Stanton: I know lawmakers and reporters alike are still catching their breath a bit after this reconciliation process. But now that it's been a few weeks, can you speak to what House Republicans' next tax priorities might be? Are there any tax provisions that didn't make it into this bill that you're hoping to maybe go to bat for moving forward? Rep. Adrian Smith: Oh, there's some things, they're not the really big items. I think we want to be mindful hearing from our constituents, what is appropriate moving forward, and what is most useful, helpful. The bill — it was large and it certainly contained a lot. I think it will be very good for our economy and opportunity, workers. Great for wage earners. When you see how effective our efforts were in 2017, where wages grew faster — at a higher rate — than executive compensation. Of course, then we saw inflation kick in because of some policies. Gosh, I would hope that we would see more bipartisan interest in getting us back to those really good places before inflation. Let's avoid the policies that trigger inflation and be able to see workers do well once again. Cady Stanton: What kind of vehicle for maybe a few other provisions do you imagine might come next? Could there be more reconciliation bills this Congress? Would it be some other kind of vehicle for moving tax priorities forward? What are you imagining? Rep. Adrian Smith: Well, there is the discussion that has just begun to start over what a second reconciliation package might look like. I want to keep an open mind there and generate the conversations that need to take place before we get something like this done. I think back in January, say, when there was the debate over is it going to be one bill or more — I think, as Chairman Jason Smith [R-Mo.] really emphasized, that the single bill was the best strategy moving forward. I certainly supported him on that argument as well. WASHINGTON, DC - SEPTEMBER 27: Chairman of the House Ways and Means Committee Rep. Jason Smith ... More (R-MO) speaks during a news conference at the House Longworth Office Building on Capitol Hill on September 27, 2023 in Washington, DC. The committee will hold a closed executive session to review 'additional evidence submitted by IRS whistleblowers.' (Photo by) Some of the immigration issues — I don't think we were expecting illegal border crossings to be down some 90 percent even without any new legislation in place. Let's see how things move along here in the next few weeks, next couple of months, to see what might be necessary moving forward. I'm always interested in what we can do to reduce bureaucracy. I see growing agencies that are not delivering a more efficient product. That should concern all of us, certainly as taxpayer dollars are involved in supporting the bureaucracy. But then, the opportunity cost. What are some of those opportunity costs that are taking place because of the bureaucracy pushing back on innovation or new ideas that don't seem to fit well within some bureaucrats' minds who have a great deal of authority? Cady Stanton: You mentioned bureaucracy and government agencies there. How do you think your caucus plans to treat IRS policy this Congress? Both in terms of funding for the agency and other areas, perhaps the Direct File program, which I know is something you've spoken to before. Rep. Adrian Smith: Right. I think the Direct File, that speaks for itself in terms of what we've already done. When you really break down the cost of how much each tax return is, that's a great example of the bureaucracy not being efficient. I think overall, customer service at IRS is something that's been on my mind, and I think many of my other colleagues' minds as well. Rather than just trying to throw all of these enforcement agents out across the economy — which that didn't even pan out even when they had the resources to do that, couldn't hire enough people, and so forth — I think if the IRS took a really good, effective posture at customer service, I think compliance would follow suit. I think taxpayers would certainly be more pleased as they seek to have their questions answered, as complex as they sometimes can be. Cady Stanton: House Republicans have obviously already targeted some rollbacks for IRS funding in annual appropriations, as well as rollbacks from the large amount of funding the agency got from the Inflation Reduction Act. Do you have any concerns about the impact on customer service or on taxpayers who are filing, given those rollbacks and changes in funding, alongside what is a shrinking number of personnel at the agency? Rep. Adrian Smith: Well, I need to be convinced that new technologies have been employed before just adding a long list of full-time new employees. Again, it's hard to find employees these days. That probably begs a broader conversation. But IRS is similar to other bureaucracies that I think can be distracted, that doesn't seem to even really want to use newer technologies. I want to be mindful of what — and have these discussions of how can we see the IRS be more efficient in carrying out their responsibilities. Their work is important, let me be very clear. Their work is very important. We know that important work like that can be more effective with good, positive customer service and responsiveness to taxpayers, like I said, so that they can get their questions answered. Because especially with changes in the tax code moving forward, we just want to make sure that customer service is a high priority at IRS. Cady Stanton: One other aspect of tax policy you mentioned is maybe some bipartisan work. I've heard a little bit about the idea of a bipartisan bill maybe at the end of this year for some tax extenders, and I know there's a couple of unaddressed bipartisan tax measures, like the work opportunity tax credit and Affordable Care Act premium tax credits that there's been some conversation around. Do you think there's the appetite there, both across the aisle and within your caucus, to work together on some kind of tax bill at the end of this year, or even just sometime this Congress? The US Capitol is seen in Washington, DC, on January 3, 2018 before the opening of the second ... More session of the 115th Congress. - The US Congress hits the ground running as its 2018 session kicks off, with President Donald Trump facing a two-week deadline to forge a compromise between Republicans and Democrats on immigration reform and the budget. (Photo by NICHOLAS KAMM / AFP) (Photo by NICHOLAS KAMM/AFP via Getty Images) Rep. Adrian Smith: Well, I always remind folks that there's far more bipartisanship that takes place on the House side, probably the Senate side as well, than really gets covered. I think there's bipartisan interest here; let's see what the issues are. I also think that it's important that, as extenders are proposed, what is the exit strategy? Is it permanent policy or is it letting something sunset? Let's sort those issues out. I think we need to have those discussions, and we shouldn't shy away from these conversations that do need to happen. Cady Stanton: Great. Well, this has been a fantastic conversation. Thanks so much for joining us, congressman. We really appreciate your time. Rep. Adrian Smith: You bet. Have a good day.
Time of India
15-07-2025
- Business
- Time of India
Forget Burj Khalifa! This country is building the world's tallest tower and it's not US or UAE
Jeddah Tower construction progresses, set to become the world's tallest skyscraper/ Image Composite: Wikipedia, TL;DR Saudi Arabia has resumed construction on Jeddah Tower , set to surpass Dubai's Burj Khalifa in height Once completed, it will become the tallest building in the world, over 1,000 meters The tower is a key part of Saudi Vision 2030 , linked to a $20 billion urban development in Jeddah A record-breaking skyscraper is coming and it's not in Dubai, the US, or China. Saudi Arabia has restarted construction on Jeddah Tower, a mega skyscraper that will soon claim the title of the world's tallest building. Rising more than 1,000 meters (3,280 feet) above the ground, the project aims to surpass Dubai's Burj Khalifa, which currently stands at 828 meters. Once finished, the Jeddah Tower will not only break height records, it will also reshape the skyline of Jeddah, a port city on the Red Sea, and cement Saudi Arabia's position in the global race for architectural innovation and urban development. Work had stopped for years. But now, construction is back in full swing. With new floors being added every few days, the tower is once again moving toward its ambitious finish line, part of a broader push under Saudi Vision 2030 to transform the Kingdom's economy and global image. The comeback of Jeddah Tower The Jeddah Tower was first announced in 2011, and construction began in 2013. But by 2018, work came to a halt due to political and financial issues. For years, the project remained in limbo. In late 2023, the developer invited new bids, signaling a restart. Construction officially resumed in January 2025. Work is now underway on the 64th floor, with crews reportedly completing a new floor every four days. The tower's core is being built using advanced vertical concrete-pumping technology, which has already reached a height of 2,624 feet, an engineering milestone. Part of a city-scale development Jeddah Tower isn't being built in isolation. It's the centerpiece of the Jeddah Economic City project, a $20 billion masterplan covering homes, schools, hospitals, commercial offices, and public infrastructure. The wider development is expected to support a population of more than 100,000 people, making it a full-scale urban hub. The tower will include 157 floors, 59 elevators, a luxury hotel, residences, office spaces, and what's projected to be the world's highest observation deck. For Saudi Arabia, this isn't just about holding a world record. It's about building a modern, sustainable urban model that reflects the country's ambitions beyond oil. The architect behind Burj Khalifa is aiming even higher The man behind the Jeddah Tower design is Adrian Smith, the same architect who led the design of the Burj Khalifa. This time, he's working with his firm Adrian Smith + Gordon Gill Architecture to go further, not just in height, but in design efficiency and sustainability. His team is using innovative structural systems to ensure the building can withstand the extreme conditions of height, heat, and coastal weather. In many ways, this project is Smith's second attempt at pushing the boundaries of what a skyscraper can be. A bold statement for Saudi Vision 2030 The Jeddah Tower is one of the most visible symbols of Saudi Vision 2030, the Kingdom's plan to shift its economy away from oil and become a center for business, culture, and tourism. Projects like NEOM and the Red Sea development are part of this larger strategy. But Jeddah Tower, by sheer scale and global attention, is arguably its most iconic. If completed by the target date of 2028, it will be a clear signal that Saudi Arabia is serious about leading the next era of urban innovation and high-rise engineering. FAQs Q: How tall will Jeddah Tower be compared to Burj Khalifa? Jeddah Tower is planned to reach over 3,280 feet (1,000+ meters). That's roughly 560 feet taller than the Burj Khalifa in Dubai. Q: Why was the project delayed for so long? Construction paused in 2018 due to labor and political issues but work officially resumed in January 2025 after a proposal phase began in late 2023 Q: When is the expected completion date? The tower is currently projected to be completed by 2028, but that may shift depending on construction pace.
India.com
14-07-2025
- Business
- India.com
Dubai's Burj Khalifa will no longer be world's tallest tower as THIS country is building..., not US, China or India but...., its height will be...
Burj Khalifa- File image Saudi Arabia's Jeddah Tower surpass Dubai's Burj Khalifa: In a matter of viral news that is getting worldwide attention, Saudi Arabia has officially resumed the construction of the Jeddah Tower, aimed to break all existing records as the world's tallest structure, Burj Khalifa. For those unversed, the Burj Khalifa, with a total height of 828 m, is a megatall skyscraper located in Dubai, United Arab Emirates is currently called the world's tallest structure. Readers should note that the Jeddah Tower was initially launched in 2013 and then stalled due to financial and political challenges. However, now, the construction of Jeddah Tower has finally resumed in Saudi Arabia. Will Saudi's Jeddah Tower surpass Dubai's Burj Khalifa? As per media reports, the ambitious $2.6 billion project is set to exceed 1,000 meters in height, dethroning Dubai's Burj Khalifa (828 meters) as the tallest building on Earth. More importantly, the tower designed by renowned architect Adrian Smith will not only make headlines due to its height but also having a multifunctional space that will house luxury residences, a Four Seasons hotel, office spaces, and retail outlets. The revival of the tower is also seen as a sign of improved investor confidence in Saudi Arabia as the country struggles with depleting crude oil reserves. India, Saudi Arabia bolster bilateral ties Meanwhile, Union Health and Chemicals and Fertilisers Minister, JP Nadda visited Saudi Arabia, highlighting strong economic ties between India and Saudi Arabia focusing on enhancing bilateral cooperation in the chemicals and fertilisers sector, an official statement was quoted by a report by news agency IANS. A a part of the visit, JP Nadda led a high-level delegation for the two-day official visit over the weekend. The minister held discussions with the Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim Al Khorayef, in Riyadh on mechanisms to strengthen partnership in fertilisers, petrochemicals and pharmaceutical sectors, the report said. (With inputs from agencies)
Yahoo
07-07-2025
- Business
- Yahoo
Factbox-Big tech rules, agriculture among issues in US trade talks with South Korea
By Jihoon Lee and Hyunjoo Jin SEOUL (Reuters) -South Korea was one of the first countries to start U.S. trade talks when both sides agreed in April to craft a package aimed at removing tariffs, but it is now seeking an extension to the 90-day pause on 25% tariffs set to expire on July 9. Trade talks between South Korea and its second-biggest trading partner have so far focused mainly on non-tariff barriers, as the Asian country already imposes near-zero tariffs on U.S. imports under a free trade agreement, according to South Korean is a list of some of the issues that have arisen around negotiations: DIGITAL SERVICES South Korea's trade minister, Yeo Han-koo, has said the digital sector is one of the most important areas during the ongoing tariff negotiations. The government has a number of legislative proposals to regulate giant tech companies at home and abroad, which President Lee Jae Myung has pledged to enact to tackle abuses of market dominance and protect smaller companies. In a letter dated July 1, U.S. Congressman Adrian Smith and 42 colleagues wrote to U.S. trade negotiators that the legislation, which they said mirrors the European Union's "discriminatory Digital Markets Act," would disproportionately target American companies while exempting major Chinese digital giants such as ByteDance, Alibaba and Temu. South Korea's ruling party is seeking to "slow down" antitrust legislation on tech giants, including U.S.-based Google, Apple, Facebook and Korea's Naver and Kakao, in light of trade issues and its sensitivity, Democratic Party lawmaker Kim Nam-geun told Reuters on Monday. NETFLIX, GOOGLE MAPS South Korea's requirements on content providers, such as Netflix, to pay network usage fees and restrictions on the export of location-based data by Google and other suppliers were also mentioned in the U.S. foreign trade barriers report released in March. In 2016, South Korea rejected Google's request for permission to use detailed mapping data in servers outside the country, citing security issues with North Korea. Seoul is set to rule on Google's fresh request on location-based data on August 11. Apple has also reportedly made a similar request on maps. BEEF, APPLES Washington is demanding better access to the agriculture, auto and digital sectors during ongoing negotiations, South Korea's trade minister said. South Korea, the world's biggest buyer of U.S. beef, restricts imports derived from animals older than 30 months, citing concerns over mad cow disease. The U.S. also has long made market access requests for other agricultural items, such as potatoes and apples. There is, however, domestic concern about opening up the market further, after earlier negotiations where Seoul agreed to lower beef tariffs to 0% by 2026 in a bilateral free trade pact in 2007. The trade ministry will emphasise the sensitivity of the agricultural sector at the negotiations, director Chang Sung-gil said at a public hearing on June 30, where farmers' groups attended to protest. South Korea's tariff of more than 500% on rice imports, which was highlighted by U.S. President Donald Trump in a speech, has not been raised during working-level discussions, according to a senior South Korean official. DEFENCE COSTS, FOREIGN EXCHANGE The issues of foreign exchange policy and cost sharing for some 28,500 U.S. troops in South Korea are being discussed via separate finance and defence channels, officials have said. INVESTMENTS Trade officials have emphasised that industrial cooperation, particularly in the shipbuilding industry, will contribute to the revitalisation of the U.S. manufacturing sector and decrease U.S. trade deficits. Trade Minister Yeo said South Korea plays a leading role in artificial intelligence, chips, batteries, cars and semiconductors. ALASKA LNG PROJECT While South Korea is considering more energy purchases, officials have expressed caution when it comes to participation in an Alaska gas project. Although South Korea has shown interest in the $44 billion LNG project in Alaska, the trade minister said the feasibility of the project was still not clear and the U.S. would only provide technical information later in the year. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
23-06-2025
- Business
- Cision Canada
Celebrating Excellence in Commercial Real Estate at the 23rd Annual REX Awards
TORONTO, June 23, 2025 /CNW/ - The NAIOP Greater Toronto Chapter proudly hosted the 23rd Annual Real Estate Excellence (REX) Awards on June 19 at The Ritz-Carlton Toronto. The gala presented in partnership with Mantella Corporation, brought together top professionals and organizations to celebrate outstanding achievements in commercial real estate. Recognized as the premier event in Greater Toronto's commercial real estate calendar, the REX Awards celebrate visionary developments, transformative deals, and the individuals behind them. Each year, NAIOP Greater Toronto honours excellence, leadership, and innovation that are driving the industry forward. "This year's award winners represent the very best in creativity, commitment, and impact," said Aleks Karamarkovic, NAIOP Greater Toronto Chapter Board Member and Chair of the REX Awards Committee. "As my second year serving as Chair, the honour of being part of this event only grows. We are proud to recognize these achievements that not only shape our skyline but also enrich our communities." Award winners were selected by a panel of respected industry judges who evaluated submissions based on criteria such as innovation, sustainability, community impact, and overall quality. Project: Flex Office Conversion at 10 Carlson Court Investment Deal of the Year: Project: The Hangar District at YZD Team: Northcrest Developments, Hines, CBRE Limited Development of the Year: Project: 160 Front Street West Team: Cadillac Fairview, Adrian Smith + Gordon Gill Architecture, B+H Architects, PCL Constructors Canada Inc. Impact Award: Project: Elm-Ledbury by Fitzrovia Team: Fitzrovia Asset Class Awards Office Lease of the Year: Project: Flex Office Conversion at 10 Carlson Court Team: Crown Realty Partners, Colliers International Canada, Gay Lea Foods Industrial Lease of the Year: Project: Chocolate Factory – Granite Telephone City Logistics Centre Team: Granite REIT, Jones Lang LaSalle Retail Lease of the Year: Project: Equinox King West at West House Team: Hines, Equinox, CBRE Limited, Urban Reform Realty Office Investment Deal of the Year: Project: UHN - 522 University Avenue Team: University Health Network, iA Financial Group, Canderel, Colliers International Industrial Investment Deal of the Year: Project: Canadian Tire Brampton Distribution Centre Team: Colliers National Investment Services, Canadian Tire Real Estate Limited (CTREL) & Prologis Canada Multi-Family Investment Deal of the Year: Project: The Hangar District at YZD Team: Northcrest Developments, Hines, CBRE Limited Office Development of the Year: Project: 160 Front Street West Team: Cadillac Fairview, Adrian Smith + Gordon Gill Architecture, B+H Architects, PCL Constructors Canada Inc. Industrial Development of the Year: Project: MDA Space Global Headquarters & Space Robotics Centre of Excellence Team: Kaneff Group Multi-Residential Development of the Year: Project: 115 Larchmount Team: Hullmark, Superkul, First National, RBC Individual Awards NAIOP GTA also recognized outstanding individuals for their exceptional leadership and contributions: Toni Rossi, Corporate Director, Dexterra & Allied Properties REIT Adrian Rocca, Founder and CEO, Fitzrovia Chapter Volunteers of the Year: (This year, two individuals were honoured with this award in recognition of their outstanding dedication and impact.) Jenny Daly, Vice President, Investments. Oxford Properties Robert Brazzell, Managing Director, Ontario Property Tax Services, Colliers Developing Leader of the Year: Hilary Salter, Associate, Acquisitions, LaSalle Investment Management The evening wasn't just about celebrating excellence in CRE—it also made space for giving back. NAIOP Greater Toronto announced its annual donation to a charitable cause, continuing a legacy of community support with nearly 1 million contributed since the awards' inception. In support of the broader community, NAIOP Greater Toronto Chapter also made two 10-thousand-dollar donations to this year's charitable beneficiaries selected by the recipient of the Real Estate Community Service Award: the Michael Garron Hospital and Toronto Public Library. Thank you to all who were involved in the planning and execution of the event and to our event sponsors who made it possible. We are already looking forward to next year! For a complete list of the 2025 REX Award winners and more information about the event, please visit the NAIOP Greater Toronto Chapter website. About the NAIOP Greater Toronto Chapter: NAIOP Greater Toronto is the leading association for developers, owners, and investors in office, industrial, retail, and mixed-use real estate. Dedicated to professional growth and advocacy, the Chapter provides top-tier networking opportunities, educational programs, and legislative representation for its members and the broader industry.
