VANCOUVER, BC / ACCESSWIRE / September 14, 2022 / CIBT Training Group Inc. (TSX:MBA, OTCQX Worldwide:MBAIF) (“CIBT” or the “Firm“) is happy to report that the Firm’s wholly-owed subsidiary, World Training Metropolis Holdings Inc. , has been featured in “STOREYS”, an internet actual property information portal, in an article titled “Again to College, Again to the Harsh Realities of the Vancouver Rental Market” on September 8th, 2022.
“With native emptiness charges beneath one % in response to a report dated December 2021 revealed by Canada Mortgage Housing Company(1), and with college students returning to highschool, immigration, housing affordability and different elements, it is not laborious to inform that the rental market is dealing with difficulties assembly elevated demand and that such difficulties are anticipated to proceed into the brand new yr,” commented Toby Chu, Chairman and CEO of CIBT. “Inadequate provide interprets into low emptiness charges and hire will increase effectively above ‘mandated’ numbers’(2) in response to the 2021 Goodman Rental Report.”
Toby Chu additional famous that “measures taken by the Canadian Authorities to broaden the pipeline for immigration and worldwide college students is anticipated to drive additional demand for rental housing, and schooling markets”. From the publication revealed by CIC Information on August 11th, 2022(3), “As of July 17, there have been almost 200,000 individuals ready for his or her preliminary examine allow software to be processed”. World Training Metropolis’s rental portfolio is already “FULLY BOOKED” for the rest of 2022 and is anticipating native emptiness charges might be even decrease in 2023 with rising building prices and rates of interest inflicting important scarcity to the development pipeline.
To view the STOREYS article, please go to their web site at: https://storeys.com/metro-vancouver-student-rental-housing-market-september-2022/
About CIBT Training Group:
CIBT Training Group Inc. is considered one of Canada’s largest schooling and pupil housing funding corporations, centered on the home and world schooling market since 1994. CIBT owns enterprise and language schools, student-centric rental residences, recruitment centres and company workplaces at 45 places in Canada and overseas. Its schooling subsidiaries embody Sprott Shaw School Corp. (“SSCC“) (established in 1903), Sprott Shaw Language School (“SSLC“), Vancouver Worldwide School Profession Campus (“VIC“) and CIBT College of Enterprise & Expertise Corp. (“CIBT China“). CIBT presents over 150 academic packages in healthcare, enterprise administration, e-commerce, cyber-security, lodge administration, and language coaching by means of these faculties. In 2021, CIBT serviced over 10,000 home and worldwide college students by means of its academic and rental housing subsidiaries.
CIBT owns World Training Metropolis Holdings Inc. (“GECH“), an funding holding and growth firm centered on education-related real-estate similar to student-centric rental residences, lodge and schooling super-centres. Beneath the GEC® model, GECH gives lodging providers to 90 faculties in Metro Vancouver, serving 1,500 college students from 71 nations. The full portfolio and growth funds underneath the GEC® model exceed $1.5 billion.
CIBT additionally owns World Training Alliance Inc. (“GEA“) and Irix Design Group Inc. (“IRIX“). GEA recruits worldwide college students for a lot of elite kindergartens, main and secondary faculties, schools and universities in North America. Irix Design is a number one design and promoting firm primarily based in Vancouver, Canada. Go to us on-line and watch our company video at www.cibt.web.
Chairman, President & CEO
CIBT Training Group Inc.
Investor Relations Contact: 1-604-871-9909 extension 319 or | E-mail:[email protected]
Some statements on this information launch comprise forward-looking info (the “forward-looking statements“). Ahead-looking statements are statements that aren’t historic information. Ahead-looking statements on this information launch embody, with out limitation, that it’s anticipated that measures taken by the Canadian Authorities to broaden the pipeline for immigration and worldwide college students is anticipated to additional drive demand for actual property, leases, and schooling markets, and that emptiness charges might be even decrease in 2023 than in 2022. The forward-looking statements are topic to numerous dangers, uncertainties and different elements that might trigger CIBT’s precise outcomes or achievements to vary materially from these expressed in or implied by forward-looking statements. Ahead-looking statements are primarily based on the beliefs, opinions and expectations of CIBT’s administration on the time they’re made, and CIBT doesn’t assume any obligation to replace its forward-looking statements if these beliefs, opinions or expectations, or different circumstances ought to change, besides as could also be required by regulation.
SOURCE: CIBT Training Group Inc.