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VANCOUVER, BC / ACCESSWIRE / September 15, 2022 / CIBT Education Group Inc. (TSX:MBA, OTCQX International:MBAIF) (“CIBT” or the “Company“) is pleased to provide the following updates on its portfolio of academic assets and real estate investments.
Overview of CIBT’s Portfolio:
Toby Chu, Chairman and CEO of CIBT, commented, “Since the launching of Global Holdings in 2015, we have expanded our real estate portfolio from one project to ten projects comprising 15 buildings. Seven of these buildings are fully operational, accommodating over 1,000 tenants at any point in time. The remaining properties are at different stages of development or construction, which we aim to complete in the coming few years.
“Among the five GEC® projects under development, three properties are located close to other large developments in Metro Vancouver, which the Company expects to add substantial value and attraction to the GEC® projects:
GEC Education Mega Center® will be located across the proposed Simon Fraser University expansion and planned development of two office towers in the Central Business District of Surrey, British Columbia. See related news at https://dailyhive.com/vancouver/surrey-central-station-centre-block-redevelopment
The Company and Global Holdings appeared in various newspapers and online news portals. To view these articles, please visit the following links:
About CIBT Education Group:
CIBT Education Group Inc. is one of Canada’s largest education and student housing investment companies focused on the domestic and global education market since 1994. CIBT owns business and language colleges, student-centric rental apartments, recruitment centres and corporate offices at 45 locations in Canada and abroad. Its education subsidiaries include Sprott Shaw College Corp. (“SSCC“) (established in 1903), Sprott Shaw Language College (“SSLC“), Vancouver International College Career Campus (“VIC“) and CIBT School of Business & Technology Corp. (“CIBT China“). CIBT offers over 150 educational programs in healthcare, business management, e-commerce, cyber-security, hotel management, and language training through these schools. In 2021, CIBT serviced over 10,000 domestic and international students through its educational and rental housing subsidiaries.
CIBT owns Global Holdings, an investment holding and development company focused on education-related real estates such as student-centric rental apartments, hotel and education super-centres. Under the GEC® brand, GECH provides accommodation services to 90 schools in Metro Vancouver, serving 1,500 students from 71 countries. The total portfolio and development budget under the GEC® brand exceed $1.5 billion.
CIBT also owns Global Education Alliance Inc. (“GEA“) and Irix Design Group Inc. (“IRIX“). GEA recruits international students for many elite kindergartens, primary and secondary schools, colleges and universities in North America. Irix Design is a leading design and advertising company based in Vancouver, Canada. Visit us online and watch our corporate videoatwww.cibt.net.
Toby Chu
Chairman, President & CEO
CIBT Education Group Inc.
Investor Relations Contact: 1-604-871-9909 extension 319 or | Email: [email protected]
Sources:
FORWARD-LOOKING STATEMENTS
Some statements in this news release contain forward-looking information (the “forward-looking statements“). Forward-looking statements are statements that are not historical facts. Forward-looking statements in this news release include, without limitation, the anticipated effects of planned construction projects near GEC® projects, that a final reading date for the EMC project will be set by the City of Surrey before year-end, and that construction of GEC® King Edward will be completed by December 2022. The forward-looking statements are subject to various risks, uncertainties and other factors that could cause CIBT’s actual results or achievements to differ materially from those expressed in or implied by forward-looking statements. Forward-looking statements are based on the beliefs, opinions and expectations of CIBT’s management at the time they are made, and CIBT does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances should change, except as may be required by law.
SOURCE: CIBT Education Group Inc.
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