GEC (company)

Last updated
GEC
Type Public
TSX:  GEC
IndustryEducation
Founded1994
Headquarters
Vancouver, British Columbia
,
Canada
Key people
Toby Chu (CEO)
Website gechq.com

Global Education Communities (GEC), formerly known as CIBT Education Group, is a student housing and education investment company based in Vancouver, British Columbia. [1] [2]

Contents

History

GEC was founded in 1994 as Capital Alliance Group Inc, changed its name to CIBT Education Group Inc, and Global Education Communities Corp (GEC) in 2023. [3]

In 1995, GEC partnered with City University of Seattle to deliver City University's MBA programs in China. [4]

In 2005, the joint program between GEC and City University Seattle was recognized by the World Manager Weekly as one of the influential Sino-Foreign Joint MBA Program in China. [5]

In 2008, GEC acquired a 75 percent stake in Target, a provider of practical nursing and health-related training. [6]

In 2010, GEC acquired the Vancouver-based KGIC Education Group, with seven campuses in Canada and facilities in Brazil, China, Japan, Korea, Mexico, and Taiwan. [7] [1] [8]

In 2013, GEC sold KGIC Education Group to a Toronto-based public company for $13.5 million. [9]

In 2014, GEC established the GEC Pearson campus-housing complex in the southwest region of Vancouver. [10] In the same year, GEC initiated the Global Education Centre project in Richmond. [11] The development includes a 313-room hotel for international students and a nine-storey building with classrooms for private educators. [11]

In 2015, GEC acquired Viva Hotel in downtown Vancouver to convert into student housing. [12] [13]

In 2016, GEC announced a plan to develop a 50-storey, $200-million educational facility on the site of the former Stardust roller rink in the city centre of Surrey. [14] [15] The project was named the GEC Education Mega Centre. [3]

In 2017, GEC acquired KGIC Education Group from the Toronto-based public company for $3.5 million and renamed it as Sprott Shaw Language College. [1] [16]

In January 2019, GEC purchased three land parcels at Oakridge to develop GEC Oakridge, a rental apartment near the Oakridge Shopping Centre in Vancouver. [10]

In June 2020, GEC acquired two apartment buildings, providing up to 254 additional student beds. [17]

In 2021, GEC received approval to develop GEC Cybercity, an education campus centre in Richmond. [18]

In July 2023, GEC completed construction and launched GEC King Edward with 188 student housing beds near the King Edward subway station. [19]

Education services

Real estate services

Current – operational properties

GEC operates six properties:

Projects under construction/development

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References

  1. 1 2 3 4 5 "CIBT Education Group readies for ESL-student surge". Business in Vancouver .
  2. 1 2 3 "Student housing companies expanding despite pandemic". The Globe and Mail. March 25, 2020.
  3. 1 2 "Former Surrey Stardust roller rink site proposed for 50-storey education centre". Vancouver Sun .
  4. ↑ "International Education News l The PIE News l Toby Chu, CEO and Director, CIBT Education Group". July 20, 2012.
  5. ↑ "Faculty Profile: Yanan Xu". October 14, 2014.
  6. ↑ "CIBT acquiring control of health-care schools". Toronto Star . February 14, 2008.
  7. 1 2 "One big education company gobbles another". Vancouver Sun .
  8. ↑ "Post-secondary institutions increasingly eyeing Surrey market for expansion". Business in Vancouver .
  9. ↑ "Acquisition of KGIC Education Group" (PDF).
  10. 1 2 "School owner gives lesson in real estate investing". Business in Vancouver .
  11. 1 2 "Education hub sought". Richmond News . January 10, 2014.
  12. ↑ "Luxury downtown hotel to become dorm for international students". Global News .
  13. ↑ "Vancouver hotel to be turned into international student housing". The Globe and Mail . February 3, 2015.
  14. ↑ "Developer plans to transform former Stardust site into 50-storey Surrey education centre". Surrey Now-Leader . September 8, 2016.
  15. ↑ https://www.cbc.ca/news/canada/british-columbia/site-of-beloved-surrey-roller-rink-to-become-an-education-mega-centre-1.3756268
  16. ↑ "Canada: CIBT Education Group acquires KGIC's assets". March 16, 2017.
  17. 1 2 3 4 5 6 7 8 9 "Vancouver education company looking to spin off $1.4 billion of student housing | Urbanized". Daily Hive .
  18. 1 2 "In Vancouver, 'mega' education centre sets the grade". The Globe and Mail . August 31, 2021.
  19. ↑ "Student housing building with 188 beds opens at King Edward SkyTrain (PHOTOS) | Urbanized". Daily Hive .
  20. 1 2 https://www.pressreader.com/canada/stockwatch-daily/20220916/282273849216568 – via PressReader.{{cite web}}: Missing or empty |title= (help)
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