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Office recovery gains momentum as leasing activity remains consistent
Office-using employment in Quebec continued to contract through the first half of 2026, down 2.3% year over year as of May 2026, primarily driven by the information, culture and recreation sectors. Availability in the Greater Montréal Area (GMA) fell by 190 basis points (bps) year over year to 15.9%, driven by a combination of leasing activity and space being withdrawn. Available sublease space declined to 1.9 million square feet (msf), extending a multi-quarter drawdown.