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Canadian real estate market to appreciate 3.2% in 2020 reflecting similar price growth in both condo and detached segments

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According to the Royal LePage Market Survey Forecast, Canadian home prices are expected to see healthy appreciation by the end of 2020, driven by low single-digit appreciation in both the condominium and detached home segments. The decline in high price appreciation in the condominium segment, in recent years, reflects a shift in millennial demand towards houses and is expected to reinvigorate sales activity in the suburbs. The aggregate1 price of a home in Canada is forecast to rise 3.2 per cent year-over-year to $669,800 in 2020, with the median price of a condominium and two-storey detached house projected to increase 3.6 per cent and 3.1 per cent to $506,100 and $785,400, respectively. Price data, which includes both resale and new build, is provided by Royal LePage’s sister company RPS Real Property Solutions, a leading Canadian valuation company.

Demand drivers

The positive outlook for Canadian real estate in 2020 is based on healthy buyer demand. A segment of potential homeowners that once put home purchasing on hold beginning in January 2018, due to the introduction of the mortgage stress test, started returning to the market in the second half of 2019, driving competition and demand.

Another significant driver in demand is Canada’s healthy immigration rate. According to the Royal LePage Newcomer Survey2 released in October 2019, newcomers to Canada are expected to purchase one in every five homes on the market over the next five years. Newcomers have high consumer confidence in Canadian real estate (86%) and arrive with savings to put towards the purchase of a home (75%).

“Our 2020 national forecast is based on a continuation of healthy economic conditions,” said Phil Soper, president and CEO, Royal LePage. “Paradoxically, a slowdown in economic growth could cause us to revise the outlook upward. While one month does not a trend make, November’s surprisingly weak employment numbers may be the trigger that causes the Bank of Canada to join the U.S. Federal Reserve in lowering interest rates”.

“Falling rates normally encourage new housing demand,” Soper continued. “This would mean further upward price pressure in regions where employment remains healthy, which is most of the country. That window to lower or flat home prices is closing or has closed for most Canadians.”

__________________________

1

Royal LePage’s aggregate home price is based on a weighted model using median prices and includes all housing types.

2

Royal LePage Newcomer Survey; One in five homes purchased by Canadian newcomers, October 16, 2019, https://www.royallepage.ca/en/realestate/news/one-in-five-homes-purchased-by-canadian-newcomers/

Peak millennials drive shift in demand from condominiums to houses

Most of Canada is seeing a shift in demand from condominiums to detached houses as peak millennials3, those between the ages of 26 and 32 and the largest cohort within the powerful millennial consumer demographic, seek houses to accommodate growing families. Comparing the national median price of a condominium at the end of 2019 with 2014, the price has increased 48 per cent. Now this demographic is looking for more space and a yard. The resulting demand will put upward price pressure on detached homes. However, condominiums will remain in demand in regions where affordability restricts choice of housing types.

“The oldest peak millennials are now in their thirties,” said Soper. “This huge wave of Canadian consumers has been transforming Canadian real estate for a decade, putting more focus and upward price pressure on our condominium housing stock. With kids in hand and dog on leash, these parents are now eyeing the suburbs that their baby boomer parents so coveted. We predict that the period of disproportionately higher price appreciation in the condo segment is drawing to a close as interest in detached homes is reborn.”

Regional appreciation drivers

The median price of a two-storey detached home in the Greater Toronto Area is expected to increase 4.5 per cent year-over-year in 2020, rising to $1,027,200, while the median price of a condominium is forecast to increase 6.0 per cent to $600,000.

In Greater Vancouver, house price appreciation is expected to stabilize in 2020 after declining in 2019. The aggregate price of a home in the region is forecast to rise 1.5 per cent to $1,125,200. Overall, British Columbia’s outlook is positive. The province’s economic indicators continue to be bullish, and most forecasters expect growth in B.C. to be above the national average next year.

The Greater Montreal Area and Ottawa’s aggregate home prices are forecast to increase 5.5 per cent and 4.5 per cent to $457,900 and $516,200, respectively, in 2020 compared to 2019. The Greater Montreal Area is expected to see the highest aggregate home price appreciation of all regions analyzed. Price growth in both regions are fueled by healthy economies with good employment, affordable real estate and strong consumer confidence.

Calgary and Edmonton are expected to see modest home price gains in 2020 as prices began to stabilize on a quarter-over-quarter basis in 2019.

____________________________

3

The term “Peak Millennial” was first coined by U.S. economist, Dowell Myers, to describe the largest cohort of millennials and their potential purchasing power. In Canada, the highest millennial birth rates occurred between 1987 and 1993, making those between the ages of 26 and 32 years old a sizeable, and important demographic in the Canadian residential real estate market.

MARKET SUMMARIES

Greater Toronto Area

Tight market conditions influenced by low supply and a growing population continue to affect home prices in the Toronto core and the Greater Toronto Area. The aggregate price of a home in the Greater Toronto Area is forecast to increase 4.75 per cent year-over-year in 2020, rising to $883,700. The median price of a condominium is expected to increase 6.0 per cent year-over-year to $600,000 and the median price for a two-storey detached home is forecast to rise 4.5 per cent year-over-year to $1,027,200 by the end of next year.

“Inventory is critically low and it is possible that we could see a return to accelerating high price appreciation in the near term without new supply becoming available,” said Kevin Somers, Chief Operating Officer, Royal LePage Real Estate Services Limited. “Areas such as Richmond Hill and Markham, which were among the hardest hit by the recent market correction, have already shown signs of a recovery while areas closer to the city centre are showing significant momentum heading into 2020.”

Somers added that while many young families are growing out of their condominiums, moving into a larger property is not an option that many can afford. The First-Time Home Buyer Incentive may benefit single first-time condominium buyers, especially in the greater region, but it is unlikely to benefit buyers looking for a property suited for a family, unless modifications proposed in the liberal election platform increasing the qualifying purchase threshold to $800,000 actually take effect.

Greater Montreal Area

Supportive of a healthy real estate market, the Greater Montreal Area’s economic indicators are all positive – a strong job market, low and stable interest rates and very few clouds on the horizon that could slow the Quebec and Montreal economy in the year ahead.

Royal LePage forecasts that the aggregate price of a home in the Greater Montreal Area will increase 5.5 per cent year-over-year by year end 2020 to $457,900, which is similar to 2019’s rate of appreciation. During the same period, the median price of a two-storey detached home is forecast to rise by 6.0 per cent year-over-year to $581,300, while the median price of a condominium is expected to increase 5.0 per cent to $355,100. At this pace, the Greater Montreal Area real estate market will enter its fourth consecutive year of price appreciation above the 4 per cent mark.

“The real estate market in Montreal is showing no signs of slowing down,” said Dominic St-Pierre, vice president and general manager, Royal LePage, Quebec region. “Strong demand continues to favour sellers, reducing inventory and pushing prices upward across the region. The seller’s market that we have been witnessing for the past three years now has become the norm and is not going anywhere. Sales and price appreciation are both expected to accelerate in 2020.”

In the region, demand comes mainly from millennials and newcomers who seek quality of life and excellent employment opportunities. The region’s unemployment rate is low; workers have good job selection as well as opportunities for advancement and increased compensation. Millennials will remain a significant buyer segment of the condominium market, especially on the Island, and the First-Time Home Buyer Incentive will continue to help more first-time buyers access property in the year ahead.

“Incentives to increase access to property are very useful for first-time home buyers when it comes the time to purchase, but they also create more demand,” added St-Pierre. “It is important that government policy take into account measures that will offset imbalance between demand and supply to provide current and future generations with a better chance to own a home. The goal should be housing inventory that answers the needs of our growing population.”

Greater Vancouver

In Greater Vancouver, the aggregate price of a home is forecast to increase 1.5 per cent in 2020, rising to $1,125,200. The median price of a standard two-storey home is expected to rise 1.25 per cent year-over-year to $1,460,700, while the median price of a condominium is forecast to increase 3.0 per cent to $666,900 by the end of next year.

“Sales have picked up significantly this fall and there is momentum in our market. Buyers who took a “wait and see” approach over the past 18 months are returning to the market looking to buy, confident that price drops have levelled off and may start to escalate,” said Randy Ryalls, Managing Broker, Royal LePage Sterling Realty. “We are seeing multiple offers for quality listings in high demand regions although not to the degree that we saw in 2016.”

Ryalls added that at the current rate of sales, inventory will be very low going into 2020 putting upward pressure on prices.

“The concern for potential buyers may be that prices will escalate quickly but they should also be concerned that they won’t get the same selection of listings or time to look around,” said Ryalls. “It varies between neighbourhoods, but areas such as East Vancouver are a seller’s market.”

Ryalls added that the unemployment rate in Greater Vancouver is low, the west coast economy is performing well, and the cost of borrowing remains low, which will motivate more buyers to come to the market.

Ottawa

In Ottawa, the aggregate price of a home is forecast to increase 4.5 per cent year-over-year to $516,200, crossing the half million dollar mark. During the same period, the median price of a condominium is expected to increase 3.5 per cent year-over-year to $341,300, while the median price for a two-storey detached home is forecast to rise 5.0 per cent year-over-year to $547,600. Government stability and sustained growth in the high-tech sector will continue to benefit Ottawa’s real estate market.

“Ottawa continues to be an affordable city with great jobs,” said Kent Browne, broker and owner, Royal LePage TEAM Realty. “Inventory is tight and there are few rental units available, which puts pressure on the overall real estate market. We are seeing multiple offers on homes between 300K and 500K and we expect this trend to continue into the new year.”

Browne added that there is a lot of condominium construction in the city including a new 45-storey condominium, the tallest in the city.

“Without more supply, we can expect to see home prices continue to appreciate in mid-single digits,” said Browne. “The federal government’s First-Time Buyer Incentive would have benefitted more people just a few years ago. In 2020, a typical home will sell for more than $500,000, which is the program’s cap.”

Calgary

In 2020, the aggregate price of a home in Calgary is forecast to increase 1.5 per cent year-over-year to $477,000. During the same period, the median price of a condominium is forecast to increase 0.75 per cent year-over-year to $267,500 and the median price of a two-storey detached home is forecast to rise 1.75 per cent year-over-year to $523,100.

“There are signs that the Calgary real estate market has touched its price floor and we are beginning a gradual return to balance,” said Corinne Lyall, broker and owner, Royal LePage Benchmark. “There’s positive news with the Trans Mountain Expansion, increased net migration and new jobs. Calgary’s housing market will see some buoyancy but it’s not going to be immediate.”

Lyall anticipates that future price and sales increases will only begin to be seen in the second quarter of 2020.

“Lenders have become more stringent, and many first-time home buyers have to improve their credit score, and wait a couple of years to save for a down payment and establish job stability. Saying that, we should still see more buyers entering the market this next year with continued low interest rates, positive migration, and less choice to rent with tighter vacancy rates,” said Lyall.

Edmonton

The aggregate  price of a home in Edmonton is forecast to increase 1.0 per cent to $383,200 at the end of 2020. The median price of a condominium and two-storey detached home are forecast to increase 1.5 per cent to $234,500 and 0.75 per cent to $438,700, respectively, during the same period.

“We are seeing Edmonton move into a balanced market where buyers and sellers are negotiating. Sellers are compromising and buyers are realizing that prices are not going any lower,” said Tom Shearer, broker and owner, Royal LePage Noralta Real Estate. “In 2020, we should see a modest price bump but we are also expecting a healthy gain in sales activity.”

Shearer added that there are many challenges for Edmonton’s real estate market in 2020 including the outcome of negotiations with provincial government workers and resolving the ongoing struggle of the energy sector. However, positive indicators include increasing sales, lower inventory and quarter-over-quarter price stability in 2019.

“Despite previous uncertainty in the energy sector, the Alberta government’s focus on corporate tax cuts and making the province a more business-friendly area could potentially spur new job opportunities to come to the city,” added Shearer.

Halifax

In 2020, Halifax’s real estate demand will continue to be driven by strong population growth. Halifax’s growing population is putting pressure on both the real estate market and rental market leading to home price increases.

The aggregate price of a home in Halifax is forecast to increase 1.75 per cent in 2020, rising to $323,800. Over the same period, the median price of a condominium is forecast to increase 3.75 per cent year-over-year to $330,400 and the median price for a two-storey detached home is forecast to rise 1.25 per cent to $340,600.

“We are now seeing more multiple offer situations in Halifax,” said Matt Honsberger, broker and owner, Royal LePage Atlantic. “In 2016, it would have been rare to have three offers on a property; now we can see up to 8 to 10. Inventory is tight, and buyers are having to adjust to the competition as momentum and consumer confidence drive the real estate market.”

Honsberger says provincial and local programs encouraging immigration and supporting business initiatives are contributing to the population increase. The Atlantic Provinces Economic Council forecasts continued economic growth in 2020.4

Winnipeg

In 2020, the aggregate price of a home in Winnipeg is forecast to remain flat year-over-year at $321,300. During the same period, the median price of a condominium is forecast to increase 1.25 per cent year-over-year, rising to $235,800. The median price of a two-storey detached home is expected to decrease 0.25 per cent year-over-year to $352,600. Immigration will continue to be a strong driver in the real estate market.

“Winnipeg is a vibrant city that attracts young professionals looking to live in an affordable place where beautiful homes are not financially out of reach for most residents,” said Michael Froese, broker and manager, Royal LePage Prime Real Estate. “Winnipeg’s diverse economy and steady employment insulate us somewhat from external economic factors, including a potential 2020 recession in the States.”

Froese attributes part of the region’s appeal to its expanding tech hub, with population growth continuing to fuel sales.

“The Canadian dream of owning a two-storey home in a family-friendly community with access to excellent schools is attainable in Winnipeg for newcomers with more modest savings,” said Froese. “According to Royal LePage’s newcomer research released in October, over 40 per cent of home buying purchases in the Prairies are made by newcomers to Canada.”

__________________

4

APEC Atlantic Report November 4, 2019 predicts maintained positive economic growth across the region in 2020.

Regina

The aggregate median price of a home in Regina is expected to remain flat at $315,000 in 2020. During the same period, the median price of a two-storey detached home is forecast to decrease 0.5 per cent to $386,000 and the median price of a condominium is forecast to increase 3.5 per cent to $207,300 year-over-year.

Immigration continues to sustain real estate in Regina. The Saskatchewan Government’s initiative to attract more newcomers to the area is expected to increase demand in the coming year.

“Regina’s oversupply of listings has diminished greatly and there are fewer condominiums available on the market than previous years,” said Mike Duggleby, broker and owner, Royal LePage Regina Realty. “Potential buyers who have been waiting for prices to stabilize and begin a recovery are realizing that now is the time to enter the marketplace.”

Duggleby added that apartment-style condo inventory has reduced significantly, with very little available in the resale market in newer regions of the city. This will likely bring opportunities for builders to address the potential demand for new homes.

Royal LePage 2020 Market Survey Forecast*

Region

Segment

Q4 2019 Estimate

($)

Q4 2020 Forecast

($)

Year-over-Year

(%)

Canada

Aggregate

$649,000

$669,800

3.2%

Canada

Condo Apartment

$488,500

$506,100

3.6%

Canada

Standard Two Storey

$761,800

$785,400

3.1%

Greater Toronto Area

Aggregate

$843,600

$883,700

4.75%

Greater Toronto Area

Condo Apartment

$566,000

$600,000

6.0%

Greater Toronto Area

Standard Two Storey

$983,000

$1,027,200

4.5%

Greater Montreal Area

Aggregate

$434,000

$457,900

5.5%

Greater Montreal Area

Condo Apartment

$338,200

$355,100

5.0%

Greater Montreal Area

Standard Two Storey

$548,400

$581,300

6.0%

Greater Vancouver

Aggregate

$1,108,600

$1,125,200

1.5%

Greater Vancouver

Condo Apartment

$647,500

$666,900

3.0%

Greater Vancouver

Standard Two Storey

$1,442,700

$1,460,700

1.25%

Ottawa

Aggregate

$494,000

$516,200

4.5%

Ottawa

Condo Apartment

$329,800

$341,300

3.5%

Ottawa

Standard Two Storey

$521,500

$547,600

5.0%

Calgary

Aggregate

$469,900

$477,000

1.5%

Calgary

Condo Apartment

$265,500

$267,500

0.75%

Calgary

Standard Two Storey

$514,100

$523,100

1.75%

Edmonton

Aggregate

$379,400

$383,200

1.0%

Edmonton

Condo Apartment

$231,000

$234,500

1.5%

Edmonton

Standard Two Storey

$435,400

$438,700

0.75%

Halifax

Aggregate

$318,200

$323,800

1.75%

Halifax

Condo Apartment

$318,500

$330,400

3.75%

Halifax

Standard Two Storey

$336,400

$340,600

1.25%

Winnipeg

Aggregate

$321,300

$321,300

0.0%

Winnipeg

Condo Apartment

$232,900

$235,800

1.25%

Winnipeg

Standard Two Storey

$353,500

$352,600

-0.25%

Regina

Aggregate

$315,000

$315,000

0.0%

Regina

Condo Apartment

$200,300

$207,300

3.5%

Regina

Standard Two Storey

$387,900

$386,000

-0.5%

 

SOURCE Royal LePage

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Wladimir P. is a Content Editor at European Gaming Media and at PICANTE Media and covers a large variety of industries.

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More than $9 Million Awarded to High School Scientists and Engineers at the Regeneron International Science and Engineering Fair 2024

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May 17, 2024

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Grace Sun, 16, receives $75,000 Top Award for a new kind of organic electrochemical transistor at the world’s largest pre-college science, technology, engineering and math (STEM) competition.
TARRYTOWN, N.Y. and WASHINGTON, May 17, 2024 /PRNewswire/ — Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) and Society for Science (the Society) announced that Grace Sun, 16, of Lexington, Kentucky, won the $75,000 top award, the George D. Yancopoulos Innovator Award, named in honor of the pioneering drug researcher and Regeneron co-Founder, Board co-Chair, President and Chief Scientific Officer, in the 2024 Regeneron International Science and Engineering Fair (Regeneron ISEF), the world’s largest pre-college science and engineering competition. Other top prizes went to projects in second-order cone programming, microplastics filtration and multi-sensory therapy for dementia.

The top winners were honored during two award ceremonies: the Special Awards on May 16 and the Grand Awards Ceremony on the morning of May 17. In total, over $9 million USD was awarded to the finalists based on their projects’ creativity, innovation and depth of scientific inquiry. The competition featured nearly 2,000 young scientists representing 49 U.S. states and nearly 70 countries, regions and territories across the world.
Grace Sun, 16, of Lexington, Kentucky, won first place and received the $75,000 George D. Yancopoulos Innovator Award for her research on building a better organic electrochemical transistor that she hopes will be used to develop new electronic devices that could help detect and treat serious illnesses like diabetes, epilepsy and organ failure. To overcome the problems that have previously prevented such devices from working effectively inside the body, Grace developed a new way of chemically treating their organic components, which greatly improved their laboratory performance.
Michelle Wei, 17, of San Jose, California, received one of two Regeneron Young Scientist Awards of $50,000 for her research to improve the speed and efficiency of a type of software that is useful in many fields such as machine learning, transportation and financial systems. Michelle’s new approach involved determining a quick approximate solution to the second-order cone programming problem, then splitting the initial cone into smaller cones, which enabled her new algorithm to greatly outperform previous approaches.
Krish Pai, 17, of Del Mar, California, received the second Regeneron Young Scientist Award of $50,000 for his machine-learning research to identify microbial genetic sequences that can be modified to biodegrade plastic. His new software, called Microby, scans databases of microorganisms and determines which ones can be changed genetically to biodegrade plastics. In tests, he identified two microorganisms that can be genetically modified to degrade plastic at a cost he believes would be ten times less than traditional recycling.
 “Congratulations to the Regeneron International Science and Engineering Fair 2024 winners,” said Maya Ajmera, President and CEO, Society for Science and Executive Publisher, Science News. “I’m truly inspired by the ingenuity and determination shown by these remarkable students. Coming from around the world with diverse backgrounds and academic disciplines, these students have shown that it is possible to come together in unity to tackle some of the toughest challenges facing our world today, and I could not be prouder.”
Regeneron ISEF provides a global stage for the world’s best and brightest young scientists and engineers. Through this competition, Regeneron and the Society are fostering the next generation of STEM leaders who are pioneering solutions to improve our world. Since 2020, Regeneron has provided STEM experiences to approximately 2.4 million students, on track to meet its goal of 2.5 million by 2025.
“The talent, intelligence and potential of this year’s Regeneron ISEF finalists is truly inspiring, and I congratulate each on their remarkable achievements,” said George D. Yancopoulos, M.D., Ph.D., co-Founder, Board co-Chair, President and Chief Scientific Officer of Regeneron. “Science competitions like ISEF were pivotal in shaping my own career and fueling my passion to fight back against disease. I look forward to seeing these students continue to push the boundaries of science and technology to create positive and sustainable change for all humanity.”
Other top honors from the competition include:
Justin Huang and Victoria Ou, both 17, of Woodlands, Texas, received the Gordon E. Moore Award for Positive Outcomes for Future Generations of $50,000 for their new prototype filtration system that uses ultrasonic waves to remove microscopic plastic particles from water. In lab tests, the acoustic force from the high-frequency sound waves removed between 84% and 94% of the suspended microplastic particles in a single pass. The students are now working to scale up and fine-tune their experimental system.
Ingrid Wai Hin Chan, 17, of Hong Kong, China received the Craig R. Barrett Award for Innovation of $10,000 for her research on using a multi-sensory therapy for dementia patients. Her mixed therapy app would allow patients to practice physical and cognitive skills through a personalized, immersive environment using virtual reality headsets. Ingrid conducted an eight-week study with six people living with dementia and found that the cognitive function of patients who used her prototype improved in several areas. She believes her app could serve as a viable option for dementia patients with limited access to in-person professional therapy.
Tanishka Balaji Aglave, 15, of Valrico, Florida, received the H. Robert Horvitz Prize for Fundamental Research of $10,000 for her investigation into a natural alternative treatment against citrus greening, a disease that threatens citrus farming in many parts of the world and is currently only treated with antibiotics. Tanishka injected the trunks of infected trees with an extract from the curry leaf tree, and found through tests that this potential method could effectively and sustainably manage citrus greening disease.
Maddux Alexander Springer, 18, of Honolulu, Hawaii, received the Peggy Scripps Award for Science Communication of $10,000 for his research into fibropapillomatosis (FP), a disease that is the primary cause of death in green sea turtles. Some turtles he studied in Kaneohe Bay, Hawaii, were stricken with a disease that causes internal and external tumors that inhibit their everyday lives. After analyzing the turtles’ diet of green algae, Maddux concluded that this disease, wastewater, invasive algae and the amino acid arginine all pose a grave risk to these endangered sea creatures.
Ria Kamat, 17, of Hackensack, New Jersey; Anna Oliva, 17, of Houston, TX; and Shuhan Luo, 18, of Worcester, MA, received the Dudley R. Herschbach SIYSS Award, which provides finalists an all-expense paid trip to attend the Stockholm International Youth Science Seminar during Nobel Week in Stockholm, Sweden.
Jack Shannon, 18, of Clane, Kildare, Ireland, and Nikhil Vemuri, 17, of Cary, North Carolina, received the EU Contest for Young Scientists Award. Their projects will represent Regeneron ISEF at the EU Contest for Young Scientists to be held this September in Katowice, Poland.
For more information about the top winners and access to visual assets visit:  https://www.societyforscience.org/isef-2024-media-kit.
The full list of Special Award ISEF 2024 Finalists can be found at https://www.societyforscience.org/press-release/regeneron-isef-2024-special-awards-winners.
In addition to the Top Award winners, more than 450 finalists received awards and prizes for their innovative research, including “First Award” winners, who each received a $5,000 prize.
The following lists the First Award winners for each of the 22 categories, from which the Top Awards were chosen:
Animal Sciences, sponsored by Society for ScienceMaddux Alexander Springer, Honolulu, Hawaii
Behavioral and Social Sciences, sponsored by Society for ScienceAndrew Y. Liang, San Jose, California
Biochemistry, sponsored by RegeneronAmy Hong Xiao, Garden City, New York
Biomedical and Health Sciences, sponsored by RegeneronRia Kamat, Hackensack, New Jersey; Kevin Xuan Lei, Shanghai, China
Biomedical Engineering, sponsored by Alfred E. Mann CharitiesAyush Garg, Dublin, California; Divij Motwani, Palo Alto, California; Akash Ashish Pai, Portland, Oregon
Cellular and Molecular Biology, sponsored by RegeneronLara and Maya Sarah Hammoud, Beverly Hills, Michigan
Chemistry, sponsored by Society for ScienceAkilan Sankaran, Albuquerque, New Mexico; Arjun Suresh Malpani and Siddharth Daniel D’costa, Portland, Oregon
Computational Biology and Bioinformatics, sponsored by RegeneronKun-Hyung Roh, Bronx, New York
Earth and Environmental Sciences, sponsored by Google.orgNikhil Vemuri, Durham, North Carolina; Justin Yizhou Huang and Victoria Ou, The Woodlands, Texas
Embedded Systems, sponsored by HPChloe Rae and Sophie Rose Filion, Welland, Ontario, Canada
Energy: Sustainable Materials and Design, sponsored by Siemens EnergyAlia Wahban, Hamilton, Ontario, Canada
Engineering Technology: Statics and Dynamics, sponsored by Howmet Aerospace FoundationChiyo Nakatsuji, Bunkyoku, Tokyo, Japan; Kevin Shen, Olympia, Washington
Environmental Engineering, sponsored by JacobsKrish Pai, San Diego, California; Jack Shannon, Clane, Kildare, Ireland
Materials Science, sponsored by Howmet Aerospace FoundationGrace Sun, Lexington, Kentucky
Mathematics, sponsored by Akamai FoundationAnna Oliva, Houston, Texas
Microbiology, sponsored by Schattner FoundationMatthew Chang, Irvine, California
Physics and Astronomy, sponsored by Richard F. Caris Charitable Trust IIHarini Thiagarajan and Vishal Ranganath Yalla, Bothell, Washington; Shuhan Luo, Worcester, Massachusetts
Plant Sciences, sponsored by Society for SciencePauline Estrada, Fresno, California; Tanishka Balaji Aglave, Dover, Florida
Robotics and Intelligent Machines, sponsored by RegeneronMichal Lajciak, Dubnica nad Vahom, Trenciansky kraj, Slovakia; Anthony Efthimiadis, Oakville, Ontario, Canada
Systems Software, sponsored by MicrosoftMichelle Wei, San Jose, California
Technology Enhances the Arts, sponsored by Society for ScienceAnant Khandelwal, Sritan Motati and Siddhant Sood, Alexandria, Virginia
Translational Medical Science, sponsored by RegeneronZheng-Chi Lee, West Lafayette, Indiana; Ingrid Wai Hin Chan, Hong Kong, China
The full list of all award-winning ISEF 2024 finalists is available here: https://www.societyforscience.org/press-release/regeneron-isef-2024-full-awards.
View all the finalists’ research here: https://projectboard.world/isef.
About the Regeneron International Science and Engineering FairThe Regeneron International Science and Engineering Fair (Regeneron ISEF), a program of Society for Science for over 70 years, is the world’s largest global science competition for high school students. Through a global network of local, regional and national science fairs, millions of students are encouraged to explore their passion for scientific inquiry. Each spring, a group of these students is selected as finalists and offered the opportunity to compete for approximately U.S. $9 million in awards and scholarships.
In 2019, Regeneron became the title sponsor of ISEF to help reward and celebrate the best and brightest young minds globally and encourage them to pursue careers in STEM to positively impact the world. Regeneron ISEF is supported by a community of additional sponsors, including Akamai Foundation, Alfred E. Mann Charities, Aramco, Caltech, Google.org, Gordon and Betty Moore Foundation, Howmet Aerospace Foundation, HP, , Jacobs, King Abdulaziz & his Companions Foundation for Giftedness and Creativity, Microsoft, National Geographic Society, Richard F. Caris Charitable Trust II, Rise, an initiative of Schmidt Futures and the Rhodes Trust, Schattner Foundation, Siemens Energy, Annenburg Foundation, Ballmer Group, Broadcom Foundation, Cesco Linguistic Services, Conrad N. Hilton Foundation, Edison International, Insaco, Oracle Academy, The Eli and Edythe Broad Foundation, The Ralph M. Parsons Foundation and US Army ROTC. Many are entrepreneurs across a wide range of industries. Learn more at https://www.societyforscience.org/isef/.
About Society for ScienceSociety for Science is a champion for science, dedicated to promoting the understanding and appreciation of science and the vital role it plays in human advancement. Established in 1921, Society for Science is best known for its award-winning journalism through Science News and Science News Explores, its world-class science research competitions for students, including the Regeneron Science Talent Search, the Regeneron International Science and Engineering Fair and the Thermo Fisher Scientific Junior Innovators Challenge, and its outreach and equity programming that seeks to ensure that all students have an opportunity to pursue a career in STEM. A 501(c)(3) membership organization, Society for Science is committed to inform, educate and inspire. Learn more at www.societyforscience.org and follow us on Facebook, Twitter, Instagram and Snapchat (Society4Science).
About RegeneronRegeneron (NASDAQ: REGN) is a leading biotechnology company that invents, develops and commercializes life-transforming medicines for people with serious diseases. Founded and led by physician-scientists, our unique ability to repeatedly and consistently translate science into medicine has led to numerous approved treatments and product candidates in development, most of which were homegrown in our laboratories. Our medicines and pipeline are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, neurological diseases, hematologic conditions, infectious diseases and rare diseases. 
Regeneron believes that operating as a good corporate citizen is crucial to delivering on our mission. We approach corporate responsibility with three goals in mind: to improve the lives of people with serious diseases, to foster a culture of integrity and excellence and to build sustainable communities. Regeneron is proud to be included on the Dow Jones Sustainability World Index and the Civic 50 list of the most “community-minded” companies in the U.S. Throughout the year, Regeneron empowers and supports employees to give back through our volunteering, pro bono and matching gift programs. Our most significant philanthropic commitments are in the area of early science education, including the Regeneron Science Talent Search and the Regeneron International Science and Engineering Fair (ISEF).
For more information, please visit www.Regeneron.com or follow Regeneron on LinkedIn, Instagram, Facebook or X.
More information about the top winners and access to visual assets visit:  https://www.societyforscience.org/isef-2024-media-kit.
Media ContactsJoseph Brown, [email protected]
Gayle Kansagor, Society for [email protected]
Photo – https://mma.prnewswire.com/media/2416174/Regeneron_ISEF_2024_Winners_Photo.jpg 
Logo – https://mma.prnewswire.com/media/2416197/Society_for_Science_Logo.jpg 

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J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Announce Winner of Inaugural 2024 Life Sciences Innovation Summit

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May 17, 2024

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In conjunction with Abu Dhabi Global Healthcare Week 2024
ABU DHABI, UAE, May 17, 2024 /PRNewswire/ — J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Group announced today Rayees Rahman of Harmonic Discovery as the winner of the inaugural J.P. Morgan Asset Management: Life Sciences Innovation Summit. Harmonic Discovery is a precision pharmacology company applying its generative chemistry platform to advance next-generation kinase inhibitors.

In partnership with the Department of Health – Abu Dhabi (DoH), the Summit took place on May 14-15, 2024 at Cleveland Clinic Abu Dhabi and showcased the 11 innovative finalists, as well as highlighted existing innovators and opportunities in the Emirate of Abu Dhabi. The event also featured keynote speeches from Dr. Laurie Glimcher of Dana-Farber Cancer Institute, Dr. Shahrukh Hashmi of the Department of Health – Abu Dhabi, and Dr. David Ho of Columbia University Medical Center and provided attendees networking opportunities to gain valuable insights into the future of life sciences innovation. 
In addition, the jury designated Chun-Hao Huang of Algen Biotechnologies as honourable mention. Algen Biotechnologies is a platform therapeutics and drug discovery company using world-leading CRISPR and AI to find treatments for cancer, inflammation and metabolic diseases.
The winners were selected by an esteemed, international panel of judges, which included:Laurie Glimcher, MD, President and CEO at Dana-Farber Cancer InstituteJorge Guzman, MD, CEO at Cleveland Clinic Abu DhabiProf. Shahrukh Khurshid Hashmi, MD, Director of Research, Department of Health, Abu DhabiYasmine Hayek Kobeissi, PhD, CQF, BSc., Executive Director at Blue Horizon AdvisorsAnya Schiess, Managing Partner at J.P. Morgan Life Sciences Private CapitalWalid Zaher, PhD, Co-Founder and CEO, Carexso
Dr. Asma Al Mannaei, Executive Director of the Research and Innovation Centre at the Department of Health – Abu Dhabi said: “Under the directives of the UAE’s wise leadership, and renowned for its world-leading medical infrastructure, Abu Dhabi stands at the forefront of healthcare excellence, offering an unparalleled opportunity for advancement in healthcare for global partners. It was our utmost pleasure hosting the J.P. Morgan Asset Management Life Sciences Innovation Summit 2024 on the sidelines of Abu Dhabi Global Healthcare Week and we commend the winners for their pioneering efforts in driving impactful advancements in healthcare; their dedication to innovation not only transforms the landscape of medicine, but also holds the promise of improving lives worldwide.” 
Stephen Squinto, PhD, Chief Investment Officer, J.P. Morgan Life Sciences Private Capital said: “We are thrilled with the level of biotech passion and innovation that we observed at this year’s Summit in Abu Dhabi. The energy was truly palpable we are thrilled to announce Rayees Rahman as the winner of our first Life Sciences Innovation Summit. Harmonic Discovery’s approach embodies the next generation of drug discovery and development. We appreciate the time and effort of all participants and cannot wait for our next event in the region.”
Nabil Kobeissi, Chief Executive Officer of Blue Horizon Advisors, said: “As the main sponsor, we are committed to nurturing and fostering the growth of all 11 finalists in this vibrant biotech ecosystem. This Summit marks the beginning of a transformative journey, and we are confident that it will pave the way for a flourishing hub in the region. We are also pleased to announce that we will commit to invest in and partner with the winner, Harmonic Discovery, to support its future growth in the region.”
Sponsors for the event included J.P. Morgan Life Sciences Private Capital, J.P. Morgan Commercial Bank, Blue Horizon Advisors, United Al Saqer Group, Thermo Fisher Scientific, and Salam Capital. The Summit organisation, logistics and finalist recruitment were facilitated by Lyfebulb.
Of importance, at the Summit, Mr. Mohamed Al Breiki, Executive Director of Sustainable Development at Masdar City, announced that Masdar City Free Zone would award all 11 Finalists complimentary business licenses to further support their establishment in the region. Masdar City is one of the world’s most sustainable urban developments and innovation hubs with a growing focus on life science entrepreneurship in Abu Dhabi.

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Congregating in the Lion City for a Win-Win Future of Intelligent Computing at the Global Data Center Facility Summit 2024

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May 17, 2024

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SINGAPORE, May 17, 2024 /PRNewswire/ — On May 17, 2024, the Global Data Center Facility Summit 2024 was held in Singapore with the theme of “Power the Digital Era Forward.” At the summit, over 600 data center industry leaders, technical experts, and ecosystem partners gathered to discuss new trends and opportunities of the global data center industry in the intelligent computing era. The attendees also got to experience all-scenario, all-ecosystem, and all-service end-to-end (E2E) solutions, share innovative practices of green data centers in the Asia Pacific and Europe, and experience the exhibition vehicle to unveil the mystery of Outdoor PowerPOD that features one power system per container. By fully embracing the intelligent computing era, Huawei strives to power the digital era forward.

Seizing Opportunities Brought by AI and Jointly Building Green & Reliable Computing Infrastructure
At the opening speech, Charles Yang, Senior Vice President of Huawei and President of Marketing, Sales and Services, Huawei Digital Power, noted that since ChatGPT ushered in the AI era, large models keep pushing the limits of computing power and the intelligent computing industry is witnessing an unprecedented construction boom. As predicted, 100 GW will be added to the global data center installed capacity and the market value will exceed US$600 billion in the next five years.
According to Charles, with opportunities come challenges. The primary challenge concerning the data center industry is reliability and electricity. Data centers are scaling up from the MW-level to the GW-level. E2E reliability of data centers is becoming even more important than ever. In response to the opportunities, Huawei will work with customers and partners to expand the industry space.
Steering Data Centers to the AI Era with Product + Service + Ecosystem
During the summit, Sun Xiaofeng, President of Huawei Data Center Facility & Critical Power Business, delivered a speech titled “Power the Digital Era Forward. ” He stated that as AI large models are penetrating, the surging compute demands drive the expansive growth in data center.
To address the challenges, Huawei strives to build product + service + ecosystem E2E data center solutions that feature fast deployment, flexible cooling, green energy, and ultimate reliability.
Fast deployment: Data centers are fully modularized and prefabricated to ensure high quality and efficient construction.Flexible cooling: Air-liquid fusion and integrated cooling source emerges as the optimal cooling architecture for intelligent computing.Green energy: New generation-grid-load-storage integrated solution is built to ensure the sound operations of intelligent computing centers.Ultimate reliability: Data centers are safeguarded through reliable products and preventive protection.Currently, Huawei’s global service network covers more than 170 countries with over 1800 professional engineers, providing 24/7 technical support. With N+ flagship service centers, Huawei has built a one-hour service radius for its customers.
The ecosystem is a key part for a win-win future of intelligent computing. Huawei works with partners to develop comprehensive E2E solutions and provide customers with one-stop data center services.
During the summit, Huawei and the ASEAN Centre for Energy released a white paper on “Building Next Generation Data Center Facility in ASEAN.” The document provides insights into the status quo, challenges, and trends of data centers in the ASEAN region, and emphasizes that efficient and energy-saving products and solutions should be applied. It also proposes future-oriented policy recommendations for data center markets.
In the ecosystem exhibition area, Huawei showcased scenario-based solutions for large-, medium-, and small-sized data centers, and demonstrated data center consulting, design, integrated development, and delivery capabilities with dozens of ecosystem partners including CIMC, Weichai, CSCEC, and Huashi.
On a special note, the Huawei Outdoor PowerPOD exhibition vehicle made its global debut. The Huawei Outdoor PowerPOD features one power system per container, outdoor deployment, plug-and-play, and high protection rating and reliability. It has become the preferred choice for decoupling the power supply architecture.
A single tree cannot make a forest.
AI is presenting great opportunities. By delving into the industry, aggregating partner ecosystems, and making innovations applicable to transformations, Huawei will continue to help customers build reliable computing infrastructure, accelerating the industry to embrace AI and powering the digital era forward.
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