- GECC partners with Pure Group to develop a $330 million GEC Education Mega Centre in Surrey, B.C.
- The facility will provide rental accommodation for 1,380 individuals including students and staff from nearby educational institutions.
- Prime location near major universities with no existing student housing options.
Global Education Communities Corp. (OTC: GECSF) has announced a strategic partnership through its subsidiary, GEC Education Mega Center Limited Partnership, with Pure Group of Companies to develop the flagship GEC Education Mega Centre (EMC) in Surrey, British Columbia. The construction budget for this significant project stands at $330 million, and the transaction was completed effective 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 upon completion. The EMC aims to offer rental accommodations for 1,380 occupants, targeting 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.
The EMC is located strategically across the heart of Surrey's education hub, designed to alleviate the housing crisis accentuated by Vancouver's low rental vacancy rates of 0.8%, as per the CMHC's Fall 2024 report. The 49-storey mixed-use tower will feature amenities including a fitness center, electronic library, and quiet lounge, providing a secure and convenient living environment for students and faculty of nearby universities.
Toby Chu, Chairman, President, and CEO of GECC, expressed the significance of the project, highlighting the role of the partnership with Pure Group to address student housing demands in Metro Vancouver and beyond.
