The demand for space in downtown Toronto is incredibly strong and incredibly deep," Michael Emory, Allied's founder and chief executive officer, said in an interview. "Our occupancy is at about 97pc -- we have no large space to lease. The only way we have to accommodate larger space is to build."

The real estate investment trust is currently marketing and leasing at least three major projects in Toronto that span 2.3m sq ft, the most new office space ever for the 28-year-old company, said Emory, 60, sitting behind a long marble table in the glass-walled boardroom of the company’s Toronto headquarters….