GECC Subsidiary Partners with Pure Group on GEC Education Mega Centre Development in Surrey, BC
Global Education Communities Corp. (GECSF) has announced a significant partnership through its subsidiary, GEC Education Mega Center Limited Partnership, with Pure Group of Companies to develop the GEC Education Mega Centre (EMC) in Surrey, British Columbia. The project, with a construction budget of $330 million, was completed on May 1, 2025.
Under the agreement, Pure Group will handle development, financing, construction, and asset management, while GECC will manage the facility under the GEC® brand once completed. The EMC will provide rental accommodations for 1,380 occupants, including educational staff and students from nearby institutions such as Simon Fraser University, Kwantlen Polytechnic University, Douglas College, Sprott Shaw College, and the upcoming UBC Surrey Campus.
Global Education Communities Corp. (GECSF) ha annunciato una partnership importante tramite la sua sussidiaria, GEC Education Mega Center Limited Partnership, con il Pure Group of Companies per sviluppare il GEC Education Mega Centre (EMC) a Surrey, British Columbia. Il progetto, con un budget di costruzione di 330 milioni di dollari, è stato completato il 1° maggio 2025.
Secondo l'accordo, Pure Group si occuperà dello sviluppo, finanziamento, costruzione e gestione degli asset, mentre GECC gestirà la struttura sotto il marchio GEC® una volta completata. L'EMC offrirà alloggi in affitto per 1.380 persone, inclusi il personale educativo e gli studenti delle istituzioni vicine come la Simon Fraser University, la Kwantlen Polytechnic University, il Douglas College, lo Sprott Shaw College e il prossimo campus UBC Surrey.
Global Education Communities Corp. (GECSF) ha anunciado una alianza significativa a través de su subsidiaria, GEC Education Mega Center Limited Partnership, con el Pure Group of Companies para desarrollar el GEC Education Mega Centre (EMC) en Surrey, Columbia Británica. El proyecto, con un presupuesto de construcción de 330 millones de dólares, se completó el 1 de mayo de 2025.
Bajo el acuerdo, Pure Group se encargará del desarrollo, financiamiento, construcción y gestión de activos, mientras que GECC administrará la instalación bajo la marca GEC® una vez terminada. El EMC ofrecerá alojamientos en alquiler para 1,380 personas, incluyendo el personal educativo y estudiantes de instituciones cercanas como Simon Fraser University, Kwantlen Polytechnic University, Douglas College, Sprott Shaw College y el próximo campus de UBC Surrey.
Global Education Communities Corp. (GECSF)는 자회사인 GEC Education Mega Center Limited Partnership을 통해 Pure Group of Companies와 협력하여 브리티시컬럼비아주 서리에서 GEC Education Mega Centre (EMC)를 개발한다고 발표했습니다. 총 3억 3천만 달러의 건설 예산이 투입된 이 프로젝트는 2025년 5월 1일에 완공되었습니다.
계약에 따라 Pure Group은 개발, 자금 조달, 건설 및 자산 관리를 담당하며, GECC는 완공 후 GEC® 브랜드로 시설을 운영할 예정입니다. EMC는 Simon Fraser University, Kwantlen Polytechnic University, Douglas College, Sprott Shaw College, 그리고 곧 개설될 UBC Surrey 캠퍼스 등 인근 교육 기관의 교육 직원과 학생을 포함해 1,380명의 입주자를 위한 임대 숙소를 제공합니다.
Global Education Communities Corp. (GECSF) a annoncé un partenariat important via sa filiale, GEC Education Mega Center Limited Partnership, avec le Pure Group of Companies pour développer le GEC Education Mega Centre (EMC) à Surrey, en Colombie-Britannique. Le projet, avec un budget de construction de 330 millions de dollars, a été achevé le 1er mai 2025.
Conformément à l'accord, Pure Group prendra en charge le développement, le financement, la construction et la gestion des actifs, tandis que GECC gérera l'établissement sous la marque GEC® une fois terminé. L'EMC offrira des logements locatifs pour 1 380 occupants, incluant le personnel éducatif et les étudiants des établissements voisins tels que Simon Fraser University, Kwantlen Polytechnic University, Douglas College, Sprott Shaw College et le futur campus UBC Surrey.
Global Education Communities Corp. (GECSF) hat über seine Tochtergesellschaft GEC Education Mega Center Limited Partnership eine bedeutende Partnerschaft mit der Pure Group of Companies bekanntgegeben, um das GEC Education Mega Centre (EMC) in Surrey, British Columbia, zu entwickeln. Das Projekt mit einem Bau-Budget von 330 Millionen Dollar wurde am 1. Mai 2025 abgeschlossen.
Gemäß der Vereinbarung übernimmt die Pure Group die Entwicklung, Finanzierung, den Bau und das Asset Management, während GECC die Einrichtung nach Fertigstellung unter der Marke GEC® betreibt. Das EMC wird Mietunterkünfte für 1.380 Bewohner bieten, darunter Lehrpersonal und Studierende benachbarter Institutionen wie der Simon Fraser University, Kwantlen Polytechnic University, Douglas College, Sprott Shaw College und dem zukünftigen UBC Surrey Campus.
- Significant $330 million construction project showing company expansion
- Strategic partnership with Pure Group sharing development responsibilities
- Large-scale capacity to accommodate 1,380 occupants
- Prime location near multiple major educational institutions
- Substantial capital commitment required for the $330 million project
- Dependency on successful partnership execution with Pure Group
- Project success relies on sustained student housing demand
VANCOUVER, BC / ACCESS Newswire / May 6, 2025 / Global Education Communities Corp. ("GECC" or the "Company") (TSX:GEC)(OTCQB:GECSF) today announced that its subsidiary, GEC Education Mega Center Limited Partnership, has entered into various agreements with Pure Group of Companies ("Pure Group") to develop the flagship GEC Education Mega Centre ("EMC") project in Surrey, British Columbia. The construction budget for EMC is
The agreements entered into establish the framework for a collaborative relationship between GECC and Pure Group by outlining their respective roles and responsibilities in the development, construction and operations management of EMC. Pure Group and GECC will be co-GP of the EMC project. Pure Group will be responsible for the development, financing, construction and asset management. Upon completion, GECC will manage the EMC under the GEC® brand, making available rental accommodations to 1,380 occupants, including educational staff and Canadian and international students who are working and studying at nearby schools such as Simon Fraser University, Kwantlen Polytechnic University, Douglas College, Sprott Shaw College, and the upcoming UBC Surrey Campus.
About EMC:
EMC is strategically located at the heart of Surrey's education hub, within:
100 metres of the Surrey Central SkyTrain station and the future Simon Fraser University Medical School
150 metres of Simon Fraser University (Surrey Campus) and Kwantlen Polytechnic University (Surrey Central Campus)
Less than 2 kilometres from Douglas College (Surrey), Sprott Shaw College (Surrey), and the future University of British Columbia (Surrey) campus
7.6 kilometres from Douglas College (New Westminster) and 7.7 kilometres from the Justice Institute of BC
There are at least 14 public and private colleges and universities within the City of Surrey, B.C. and none of these schools provide housing for their students or staff.
The Development Permit with the City of Surrey allows a 49-storey mixed-use tower, featuring one floor of retail space, two floors of commercial space (preleased to GECC's subsidiary schools ), 43 floors of market rental residential units accommodating 1,380 occupants, and three amenity and mechanical floors. Aligned with GECC's established business model, the market rental units will be student-centric, fully furnished, and offer regular housekeeping, enhanced security, and comprehensive amenity spaces. Amenities will include an electronic library, video conferencing facilities, a fitness center, a quiet lounge, a coffee shop, a games room and computer labs. Notably, EMC will also allocate market rental units to faculty and staff of GECC's educational partners, providing a convenient and secure living environment adjacent to their workplaces.
"We are pleased to partner with Pure Group on this significant project, which aims to improve the lives of students coming to Metro Vancouver from across Canada and abroad," stated Toby Chu, Chairman, President, and Chief Executive Officer of GECC. "The housing crisis in Metro Vancouver, with rental vacancy rates at
"We are excited to bring our extensive development and financing expertise to the GEC Education Mega Centre project", added Steven Evans, President & CEO of Pure Group of Companies. "Our team will ensure this landmark development is delivered on time, within budget, and to the highest quality standards. We are big believers in the importance of Central Surrey's position in Metro Vancouver, and the timing aligns well with the Surrey-Langley Skytrain expansion, new Cloverdale Hospital, and the expansions of SFU and UBC. We look forward to collaborating with GECC to deliver much needed student-centric housing and contribute to the remarkable development of Surrey's City Centre."
About Pure Group of Companies:
Pure Group is a Canadian-based real estate investment and development firm. Over the last 20 years, Pure Group has achieved success across North America through the Pure Industrial Real Estate Trust (PIRET), Sunstone Opportunity Funds, and Pure Multi-Family REIT. These platforms monetized
About GECC, a Leader in Education and Student Housing:
Since 1994, GECC has established itself as a leading player in the Canadian education and student housing sector, serving both domestic and international markets. GECC offers a comprehensive range of services, encompassing business and language colleges, student-centric rental apartments, recruitment services for educational opportunities, and a network of campuses and offices across 40 locations.
Through its subsidiaries, GECC provides a holistic educational experience for over 10,000 students annually. These subsidiaries include established institutions like Sprott Shaw College (founded in 1903), Sprott Shaw Language College, Vancouver International College, and CIBT. These subsidiaries offer programs covering healthcare, business, and technology.
GECC also addresses student housing needs through its subsidiary, Global Education City Holdings Inc. ("GEC"). GEC focuses on developing and managing student-centric rental apartments and education super- centres in Metro Vancouver, boasting a portfolio exceeding
GECC also owns Global Education Alliance Inc. ("GEA"), a subsidiary that specializes in placing students in elite North American schools and universities, and Irix Design, a leading design and media communication company based in Vancouver, Canada.
Visit GECC online at www.GEChq.com and www.GECliving.com to explore our services and watch our corporate video.
Toby Chu
Chairman, President & CEO
Global Education Communities Corp.
Investor Relations Contact: 1-604-871-9909 extension 319 or | Email: info@GEChq.com
FORWARD-LOOKING STATEMENTS
Some statements in this news release contain forward-looking information (the "forward-looking statements") about the Company and its plans. Forward-looking statements are statements that are not historical facts. Forward-looking statements in this news release include, without limitation, that partnering with experienced financial and investment parties like Pure Group will enable the Company to accelerate the development of additional GEC® student rental properties throughout Metro Vancouver and beyond. The forward-looking statements are subject to various risks, uncertainties and other factors (collectively, the "Risks") that could cause GECC's actual results or achievements to differ materially from those expressed in or implied by forward-looking statements. The Risks include, without limitation, economic factors and monetary policy and the risk factors identified in the MD&A forming part of the 2025 Q2Financial Report. Forward-looking statements are based on the beliefs, opinions and expectations of GECC's management at the time they are made, and the Company 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: Global Education Communities Corp
View the original press release on ACCESS Newswire
FAQ
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