sur Global Education Communities Corp (isin : CA37961F1053)
GECC Details 2024 Business Achievements Despite Challenges
Global Education Communities Corp. (GECC) has released its year-end review for 2024, highlighting significant business activities amid high interest rates and construction costs. The company addressed these challenges through strategic financial initiatives and a shift in focus towards domestic markets.
In 2024, domestic enrollment rose, compensating for a drop in international students due to government restrictions. The GEC® Living division experienced a 150% increase in its domestic tenant base, with domestic students filling the vacancies left by international peers.
GECC achieved several milestones, including the sale of GEC® Granville Hotel for $70 million to boost liquidity and the near-zero vacancy at GEC® King Edward. The company also secured over $148 million in financing, with $214 million pending approval. For 2025, GECC plans to continue its expansion and streamline operations.
R. H.
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