Khela Real Estate Group

Whether you’re a soccer fan or a proud Canadian, communities are undeniably excited as Vancouver and other host cities welcome one of the world's biggest international sporting events.

The economic effect of hosting world-class sporting events is hard to overstate. According to research from FIFA and several independent economic Analyses, these games have enormous economic impacts on the cities they touch down in, including:

◾️ Tens of thousands of jobs created or sustained in host cities, with 24,000 in Canada alone
◾️ An economic output of approximately $3.8 billion in Canada
◾️ Huge boosts to revenue in hospitality, restaurants, and other businesses
◾️ Accelerated infrastructure development of airports, seen in recent renovations to Vancouver’s YVR airport, which now ranks 10th globally according to Skytrax World Airport Awards
◾️ Faster construction of public transit infrastructure, such as the completion of Vancouver’s Canada Line SkyTrain during the 2010 Olympics

These economic boosts aren’t exclusive to the World Cup either. Historically, major sporting and cultural events have made similar impacts in Vancouver and other Canadian cities. The 2010 Winter Olympics is one example, generating approximately 45,000 jobs and an estimated $2.3 billion in real GDP for British Columbia. We’ve seen similar impacts elsewhere, such as during the Super Bowl or even on stops during Taylor Swift’s Eras tour from 2023 to 2028.

When we welcome major cultural and sporting events into our cities, we’re not just putting ourselves on the world stage as millions tune in. We’re also inviting real economic growth and stimulation, creating new jobs, bolstering existing industries, and speeding up the process of building and improving infrastructure, all while being the proud hosts of the planet’s most important soccer matches.

As soccer fans from around the globe pour into Vancouver and Toronto in the coming weeks, I feel proud to call Canada home, and I’m reminded that I’m fortunate enough to live in a world-class country.

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Happy Canada Day!

There’s no shortage of great community events happening nationwide today, including some amazing ones right here in Surrey and the Fraser Valley.

Surrey Canada Day is the largest free celebration of the holiday in Western Canada, bringing together the city’s diverse communities to show their national pride. The event showcases some of the best of Surrey’s music, education, and entertainment, with a special emphasis on Indigenous and multicultural artists.

That’s not the only great event in town, though:

🇨🇦 Canada Day 5k run being held in Surrey’s beautiful Bear Creek Park
🇨🇦 A country roots concert courtesy of Antonio Larosa
🇨🇦 White Rock’s Canada Day by the Bay Celebration
🇨🇦 Canada Day Race in Port Coquitlam’s Gates Park

Of course, there are countless other great events happening throughout the Lower Mainland today. Let me know which ones you’ll be taking part in today, and I hope you and your family enjoy a fun, festive Canada Day.

Discover Surrey, City of Surrey

In May, Surrey City Council (City of Surrey) approved the motion to push the BRT to the next stage.

King George Corridor is one of the busiest north-south corridors in the region, and with the surrounding area only poised to grow further, it’s vital that the city takes steps now to proactively address congestion. BRT offers a sustainable, reliable, and fast solution, offering high-capacity transit connection to City Centre, Newton, and South Surrey.

Projects like this are working to support the long-term growth of the city, which is why it’s no surprise that Surrey was chosen to host a BRT pilot station near Holland Park and the King George SkyTrain station. This pilot station will give TransLink a chance to test the station design before a wider rollout, ensuring it’s ready to support the needs of BC’s fastest-growing city.

City Council’s commitment to this project shows that they’re taking real steps to build a more sustainable, cost-effective, and connected community, and I’m looking forward to seeing what further action they’ll take regarding transit and congestion management.

For more on this project, visit surrey.ca/BRT

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In case you missed it, the Community Advisory Group (CAG) on Extortion has been hard at work alongside the BC Provincial Extortion Task Force this past year. Our mission is simple: To put an end to extortion threats in our communities.

In May, our CAG Chair, Paul Dadwal, hosted a roundtable with police leaders from City of Surrey, City of Abbotsford - The Hub Of The Fraser Valley, City of Delta - Local Government, BC RCMP, the BC Extortion Task Force (Government of British Columbia), and the Canada Border Services Agency, presenting an update on our progress in combating extortion across the Lower Mainland.

The extortion crisis in BC continues to be the government’s number one public safety priority, helping to put an end to extortion threats and related acts of violence in our communities. With the support of law enforcement and the government, we’ve seen some real progress on our mandate so far, including:

◾️ A reduction in extortion cases since January 2026
◾️ More than 60 briefings with law enforcement, CBSA, Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), law societies, and most importantly, with extortion victims and their families
◾️ Several significant successes in charges laid against suspects of extortion and organized crime
◾️ New public safety initiatives deploying police to check on the welfare of Surrey businesses and residences
◾️ A renewed emphasis on the Surrey Police Service’s Victim Service Teams, which offer support, care, and safety plans to those affected by extortion
◾️ CBSA has opened 446 immigration investigations into individuals suspected of being linked to extortion
◾️ CBSA has issued 118 removal orders, and 55 individuals have been removed from Canada to date
◾️ The BC Extortion Task Force is actively pursuing 36 investigations into high-level extortion groups, with more in the queue

I’m proud and, above all, grateful to be playing a role in creating community-oriented solutions to BC’s extortion crisis.

But as Paul Dadwal puts it, our real achievement isn’t measured in the number of arrests or deportations we see, but in our ability to build a solution together. By bridging the gap between victims, families, community members, law enforcement, and all levels of government, we can continue to find practical, collaborative solutions that help make our community a safer place.

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After being named as the #1 Sales Person in BC and Yukon in 2025 by CENTURY 21 Canada, I’m proud to announce that my team and I are now ranked first worldwide for Q1 2026.

Receiving recognition like this is an honour, but even more importantly, it’s a reminder that success is defined not by accolades, but by action.

In order to close deals and operate at this level, this work requires so much more. Despite challenging times, this accomplishment reflects the importance of keeping your finger on the pulse, understanding the markets you work in, and providing value to your clients. As my team and I continue our work throughout the Fraser Valley, I’m reminded that moments like this are just that, moments. What really counts is how we transform moments into momentum, treating these successes as milestones rather than endpoints.

Thank you to Century 21 for this honour, we can’t wait to continue our work supporting the growth of our city.

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Today, the Bank of Canada has announced that the overnight interest rate will be held steady at the current rate of 2.25%, which is the fourth consecutive rate hold of the year.

Due to the conflict in Iran and the continued closure of the Strait of Hormuz, which is a key route for the world’s energy market, oil prices have risen to an average of $106 per barrel. This has increased financial pressure across Canada and the globe, which we’ve seen in the form of rising costs for gas, groceries, and countless other products and services.

On the other hand, Canada’s inflation report, published this past April, shows an easing of core inflation, which is helping the economy absorb more of the market shock of turbulent energy costs and keeping inflation from skyrocketing. Nevertheless, with the Strait of Hormuz unlikely to reopen until September 2026 at the very earliest, many markets are already preparing for prime rate hikes in late 2026 and early 2027.

There’s good news as well, including below-peak interest rates, reduced variable interest rates, and the overall decline of housing prices nationwide, helping to restore affordability to levels not seen since 2008. The rate has now held steady for four announcements in a row, signaling a more predictable environment for borrowers and businesses making longer-term decisions.

The next Bank of Canada interest rate announcement will be made on July 15, 2026. If you have questions about this latest announcement and how it might affect you, I’m happy to discuss in more detail, feel free to reach out.

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Recently, the nation heard from its leader in a presentation from Prime Minister Mark Carney. And while he covered a lot of ground in his address, one key area that caught my attention was his notable optimism for British Columbia in particular. Here are a few of the key takeaways for British Columbians to take from this address:

◾️ The government is making housing affordability a key focus, with several near-term improvements poised to take advantage of easing availability pressures

◾️ We’re expecting to see more forward guidance in the next 1 to 2 years, with an emphasis on forming and expanding agreements and connections across sectors and regions

◾️ Canada continues to strengthen its position as a global leader in low-risk, low-cost carbon supply, with BC presenting some of the most significant opportunities in LNG, wood pulp and fibre, and other natural resources

◾️ Canada’s clean energy future is on track, with electrification and grid expansion plans aiming to significantly reduce emissions while creating an estimated $15 billion in savings

◾️ BC is set to benefit from the accelerated development of critical minerals industries, unlocking a potential $18 billion for its economy

◾️ Canada is positioned as one of the most attractive destinations for infrastructure investment, and one-third of national projects in progress are located in BC

These are just some of the most impactful points of Prime Minister Carney’s presentation, but I highly recommend reading through the full address if you’re interested in learning his wider sentiments on Canada’s position and trajectory.

To me, these takeaways are early signals of a more supportive environment for business confidence, labour market stability, and development activity in Surrey’s downtown. It shows that BC is a key part of Canada’s future, and with Surrey well on its way to becoming the province’s economic powerhouse, it shows that an investment here is an investment in the nation.

Thank you to Madeleine Nicholls, CEO of the Downtown Surrey BIA, for attending the presentation on behalf of DSBIA and gathering such invaluable insights.

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What’s happening in the City of Surrey and City of Vancouver - Local Government this month?

Summer is just around the corner, which means there’s no shortage of great community activities to be a part of throughout the city. It’s the best time of year to take in cultural celebrations, sporting events, and events supporting social causes important to our communities. Here are a few I’m looking forward to in June:

🔹 Car Free Day: June 6 | 12 to 8 PM
🔹 Surrey Soccer Fan Zones: June 11 - July 19
🔹FWC26Vancouver: June 13 - July 7
🔹National Indigenous Peoples Day Celebration and Wellness Event: June 21 | 2-7 PM
🔹Pride Festival: June 28

I feel incredibly fortunate to live in a place where world-class events and important social moments like these happen right in my backyard, and I hope you’ll join me in getting out there and being a part of it.

These are just a handful of events taking place this month, but it’s by no means an exhaustive list. Let me know what other events you’re looking forward to around Surrey this month in the comments below.

Discover Surrey

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In partnership with the team at Colliers Canada, Khela Real Estate Group is pleased to bring this court-ordered sale to market in Surrey’s Redwood Heights neighbourhood.

Located at 2658, 2642, and 2608 176 St., this 29.5-acre land assembly is made up of three parcels, each designated for Townhouse and Multiple Residential Use. The asking price is $60,000,000, and offers are subject to court approval.

Ideally located around several planned and existing parks, the Grandview Heights area, and with proximity to King George Boulevard, these properties present an invaluable, long-term opportunity to invest in the future development of Redwood Heights as it becomes yet another fixture in Surrey’s expansion and redevelopment.

If you’re looking to learn more about this new listing, don’t hesitate to reach out directly.

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