GEC (company)
| Company type | Public |
|---|---|
| TSX: GEC | |
| Industry | Education |
| Founded | 1994 |
| Headquarters | , |
Key people | Toby Chu (CEO) |
| Website | gechq |
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]
History[edit]
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[edit]
- Sprott-Shaw Community College in British Columbia, Canada[7]
- Sprott Shaw Language College in Vancouver, Canada[1]
- Sprott Shaw Language College in Toronto, Canada[1]
- Vancouver International College
- Global Education Alliance Inc.
Real estate services[edit]
Current – operational properties[edit]
GEC operates six properties:
- GEC Pearson – North and South Towers[17]
- GEC Burnaby Heights[17]
- GEC Granville Suites Hotel[17][2]
- GEC Marine Gateway – North and South Towers[20]
- GEC Viva[17][2]
- GEC King Edward[20]
Projects under construction/development[edit]
- GEC Oakridge[17]
- GEC Education Mega Centre in Surrey[17]
- GEC Education Super Centre[17]
- GEC Cyber City[17][18]
References[edit]
- ^ a b c d e "CIBT Education Group readies for ESL-student surge". Business in Vancouver.
- ^ a b c "Student housing companies expanding despite pandemic". The Globe and Mail. March 25, 2020.
- ^ a b "Former Surrey Stardust roller rink site proposed for 50-storey education centre". Vancouver Sun.
- ^ "International Education News l The PIE News l Toby Chu, CEO and Director, CIBT Education Group". July 20, 2012.
- ^ "Faculty Profile: Yanan Xu". October 14, 2014.
- ^ "CIBT acquiring control of health-care schools". Toronto Star. February 14, 2008.
- ^ a b "One big education company gobbles another". Vancouver Sun.
- ^ "Post-secondary institutions increasingly eyeing Surrey market for expansion". Business in Vancouver.
- ^ "Acquisition of KGIC Education Group" (PDF).
- ^ a b "School owner gives lesson in real estate investing". Business in Vancouver.
- ^ a b "Education hub sought". Richmond News. January 10, 2014.
- ^ "Luxury downtown hotel to become dorm for international students". Global News.
- ^ "Vancouver hotel to be turned into international student housing". The Globe and Mail. February 3, 2015.
- ^ "Developer plans to transform former Stardust site into 50-storey Surrey education centre". Surrey Now-Leader. September 8, 2016.
- ^ https://www.cbc.ca/news/canada/british-columbia/site-of-beloved-surrey-roller-rink-to-become-an-education-mega-centre-1.3756268
- ^ "Canada: CIBT Education Group acquires KGIC's assets". March 16, 2017.
- ^ a b c d e f g h i "Vancouver education company looking to spin off $1.4 billion of student housing | Urbanized". Daily Hive.
- ^ a b "In Vancouver, 'mega' education centre sets the grade". The Globe and Mail. August 31, 2021.
- ^ "Student housing building with 188 beds opens at King Edward SkyTrain (PHOTOS) | Urbanized". Daily Hive.
- ^ a b https://www.pressreader.com/canada/stockwatch-daily/20220916/282273849216568 – via PressReader.
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