VANCOUVER -- Vancouver police say they have arrested a 30-year-old man for murder after a stabbing in East Vancouver Saturday night.

The incident occurred around 9 p.m. near the intersection of East 57th Avenue and Prince Edward Street, police said in a news release Sunday.

"Several heads-up witnesses provided detailed descriptions of the suspect and where he was last seen,” said VPD spokesperson Const. Jason Doucette, in the release. “Minutes later, police arrested the suspect a block from the crime scene.”

Police said the victim was 34-year-old Damien Franklin Leung. He was rushed to hospital after the stabbing, but later died.

Though it's early in their investigation, police said they believe the suspect and the victim knew each other. The suspect remains in custody and police have not released his name because charges have not yet been laid.

Police did describe the incident as murder, however, suggesting that they plan to recommend such a charge to Crown prosecutors.

Anyone with information about the incident is asked to call VPD detectives at 604-717-2500. Tips can also be provided anonymously via Crime Stoppers at 800-222-8477.

The incident is the 16th homicide in the City of Vancouver this year, police said.