VANCOUVER, CANADA—CIBT Education Group Inc. says that it has signed an agreement with a Vancouver, BC-based developer for the purchase of three properties on which it plans to develop student housing.
The development is in addition to a $44 million dollar project that was announced last month.
“We have been working with international students from 42 countries and owning a large number of schools in three continents for 20 years. We have learned many important priorities from parents sending their children to study abroad,” commented Toby Chu, president, CEO and vice chairman of CIBT Education. “In 2013 alone, we dealt with over 9,000 home stay students per year. The quality of home-stay families, security issues, safety concerns when commuting to and from school, as well as proper meal plans and weekend activities are some of the many concerns of students’ parents.
“Armed with this knowledge and experience, CIBT Group is in an excellent position to address these concerns by establishing a network of high quality, clean and safe serviced apartments and student hotels for students coming to study in Vancouver, thereby eliminating the worries for parents.”
CIBT Group owns and operates a network of business, technical and language colleges in North America and Asia.
As with the first project, this project is targeted towards domestic and foreign students studying in the Lower Mainland, and is located within 2 minutes of a Sky-train station. The project announced in May is for a site that is just a 5-minute walk from the Sky-train station but is larger in scale.
This latest site is also part of Global Education City’s (“GEC”) student housing arm which will be capable of handling approximately 240 students during the academic season from September to June, and up to 480 students during the summer camp season from July to August. Total development budget is $32.4 million when fully constructed and furnished.
All GEC serviced apartments or hotels will be fully furnished, and will be equipped with state-of-art personal identification system for security access and debit card purposes.
CIBT Education Group Inc. is an education management company focused on the global education market since 1994. CIBT Group owns and operates a network of business, technical and language colleges in North America and Asia.