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, International Training Metropolis Holdings Inc. , has been featured in “STOREYS”, a web-based 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 under one p.c in response to a report dated December 2021 printed by Canada Mortgage Housing Company(1), and with college students returning to high school, immigration, housing affordability and different components, it isn’t onerous 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 lease will increase properly 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 predicted to drive additional demand for rental housing, and schooling markets”. From the publication printed by CIC Information on August 11th, 2022(3), “As of July 17, there have been almost 200,000 folks ready for his or her preliminary research allow utility to be processed”. International Training Metropolis’s rental portfolio is already “FULLY BOOKED” for the rest of 2022 and is anticipating native emptiness charges will probably be even decrease in 2023 with rising building prices and rates of interest inflicting vital 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/
- https://www.cmhc-schl.gc.ca/en/professionals/housing-markets-data-and-research/market-reports/rental-market-reports-major-centres
- https://goodmanreport.com/app/uploads/2022/02/2021-Yr-Finish-Report_web.pdf
- https://www.cicnews.com/2022/08/ircc-officials-discuss-study-permit-backlog-and-new-recommendations-at-cbie-symposium-0829805.html#gs.bqafnr
About CIBT Training Group:
CIBT Training Group Inc. is one in all Canada’s largest schooling and pupil housing funding corporations, centered on the home and world schooling market since 1994. CIBT owns enterprise and language faculties, student-centric rental residences, recruitment centres and company places of work at 45 areas in Canada and overseas. Its schooling subsidiaries embody Sprott Shaw Faculty Corp. (“SSCC“) (established in 1903), Sprott Shaw Language Faculty (“SSLC“), Vancouver Worldwide Faculty Profession Campus (“VIC“) and CIBT College of Enterprise & Know-how Corp. (“CIBT China“). CIBT provides over 150 academic packages in healthcare, enterprise administration, e-commerce, cyber-security, lodge administration, and language coaching via these colleges. In 2021, CIBT serviced over 10,000 home and worldwide college students via its academic and rental housing subsidiaries.
CIBT owns International Training Metropolis Holdings Inc. (“GECH“), an funding holding and growth firm centered on education-related real-estate resembling student-centric rental residences, lodge and schooling super-centres. Below the GEC® model, GECH offers lodging providers to 90 colleges in Metro Vancouver, serving 1,500 college students from 71 nations. The full portfolio and growth finances underneath the GEC® model exceed $1.5 billion.
CIBT additionally owns International Training Alliance Inc. (“GEA“) and Irix Design Group Inc. (“IRIX“). GEA recruits worldwide college students for a lot of elite kindergartens, major and secondary colleges, faculties 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.internet.
CONTACT:
Toby Chu
Chairman, President & CEO
CIBT Training Group Inc.
Investor Relations Contact: 1-604-871-9909 extension 319 or | Electronic mail:[email protected]
FORWARD-LOOKING STATEMENTS
Some statements on this information launch include forward-looking data (the “forward-looking statements“). Ahead-looking statements are statements that aren’t historic info. 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 predicted to additional drive demand for actual property, leases, and schooling markets, and that emptiness charges will probably be even decrease in 2023 than in 2022. The forward-looking statements are topic to varied dangers, uncertainties and different components 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.
