Global education and student residence firm CIBT have announced plans to build a second ‘Global Education City’ in Vancouver, Canada.
The entire site has been assigned a development budget of $600 m. At the first stage, the $230m project will build three towers, one for office space, the others residential, which will eventually house schools, education agency offices, support services, and bed spaces for domestic and international students.
The first ‘Global Education City’ was built in reaction to Canada’s stated aim of increasing international student arrivals by 50%, which along with rising housing prices, meant that an opportunity for international student housing provision was viable.
Since 2013, Canada has reached its ambitious target of hosting 450,000 international students by 2022, five years early. With turbulent global political landscapes showing no sign of abating, Canada is set to continue its growth due to an outward image of a stable economy, with welcoming post-study work rights.