News Summary

Silver Cypress Construction Ltd., a North Vancouver-based family business, is expanding its operations into Alberta, primarily in Calgary and Edmonton. Founded in 1978 in Iran and relocated to Canada in the 1990s, Silver Cypress specializes in commercial and residential construction. The company, led by Reza Noghrekar and his brothers, has seen a shift towards commercial tenant improvement (TI) projects amidst a downturn in the residential construction market. This expansion is driven by favorable market conditions in Alberta, including a trend of franchisors launching new locations and more affordable housing costs compared to British Columbia. Silver Cypress plans to establish an office in Alberta to support its growing presence. The construction industry in Alberta is noted for its fast pace and less stringent building codes compared to B.C., contributing to the decision to expand.