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The new building will house up to 14,000 employees – replacing an outdated facility designed in the late 1950s for about 3,500 employees.

Prices have jumped more than 20%, pushing the average home in Canada to nearly €599,784 - more than nine times the average household income.

While analysts at UBS see more pain ahead, it’s not as many closures as the investment bank had initially projected about a year ago.

EKTER through the consortium "EKTER SA" - ERETVO SA - THEMELI SA - TECHNICAL SOCIETY CHRISTOFOROS D. KONSTANTINIDIS SA » was declared successful contractor.