CIBT Education Group Acquires New Student Housing Property in Metro Vancouver
s part of a three-year student housing project led by CIBT Education Group Inc., the education management company has acquired two additional properties in Central Vancouver.
This property follows CIBT Education Group’s acquisition and successful launch of Viva Suites Hotel in the first quarter of 2015. The housing project aims to cater to the growing number of international students and business professionals needing quality lodging in Vancouver. The property is located approximately 300 feet from the Skytrain/Subway station.
Mr.Toby Chu, Vice Chairman, President and CEO of CIBT Education Group Inc., said that the group plans to execute one housing project each quarter over the next three years. This is to achieve the company’s goal of offering accommodations of up to 10,000 beds within the next five years. The total project budget allocated for the project is $1 billion dollars.
CIBT has also teamed up with an overseas investment group to jointly develop North America’s Education Super Center to be constructed in
Metro Vancouver. The project targets to put up 20 educational institutions and housings that can accommodate 800 beds.