International Land Alliance Secures Key Land Acquisition
Project sales in excess of $100M
Company Overview
International Land Alliance, Inc. (OTCQB: ILAL), is making waves in the real estate development sector by recently announcing a significant land acquisition. The company has entered into a binding purchase agreement to acquire a substantial 300 acres of strategically located land adjacent to its acclaimed Rancho Costa Verde development. This acquisition encompasses a well-planned subdivision already divided into seven parcels, featuring 300 residential homesites, 12 existing casitas, and two completed homes. The total projected gross land sales for this venture are expected to significantly exceed $12 million, along with anticipated construction revenues surpassing $90 million.
Rancho Costa Verde Development
Situated in Baja California, Rancho Costa Verde is an expansive, master-planned community covering 1,100 acres and hosting 1,200 lots. This development is located only eight kilometers north of the established Cabo Oasis Resort on the picturesque Sea of Cortez. To date, Rancho Costa Verde has achieved remarkable success, having sold over 1,000 residential lots and constructed more than 100 single-family homes, with an additional 50 homes currently under construction. This growth is complemented by the establishment of a boutique hotel and clubhouse, enhancing the overall community appeal.
Future Plans and Community Growth
In light of California's current housing shortages and affordability challenges, Frank Ingrande, President of International Land Alliance, emphasized the pressing need for land acquisition as part of the company’s strategy to bolster shareholder value. The company’s proactive approach is evident as they are preparing to begin sales for the beachfront homesites immediately. Upgrades to the existing casitas and homes are in progress, while plans for expanding the homesite inventory are also underway. These developments reflect a growing demand for real estate within the company's communities.
Company’s Mission and Objectives
International Land Alliance prioritizes acquiring desirable land and real estate assets primarily in Northern Baja California and Southern California. The company is committed to developing innovative, sustainable housing solutions through advanced design and construction technology. By focusing on environmentally friendly communities designed for vacation, retirement, and investment buyers, ILAL continues to shape the future of real estate developments in the region.
As the company looks forward to closing this transaction soon, the new land acquisition positions ILAL for further growth and success in the competitive real estate market.
Media Inquiries
For media inquiries, you can reach out to the Investor Relations team at info@ila.company or call (877) 661-4811. For more detailed information, visit www.ila.company.
Frequently Asked Questions
What is the recent announcement by International Land Alliance about?
International Land Alliance announced the acquisition of 300 acres of land adjacent to its Rancho Costa Verde development, projected to yield over $100 million in sales and revenues.
What is Rancho Costa Verde?
Rancho Costa Verde is a master-planned community spanning 1,100 acres, consisting of 1,200 lots, with over 1,000 lots sold and various construction projects underway.
Why is land acquisition important for ILAL?
Land acquisition is critical for ILAL to address housing shortages and increase shareholder value, particularly in light of California's affordability issues.
How will ILAL enhance this new land acquisition?
ILAL plans to immediately start selling beachfront homesites while upgrading the existing homes and casitas and expanding their inventory.
What is ILAL's mission?
ILAL is dedicated to creating environmentally sustainable communities and accessible housing solutions through innovative technology in real estate development.
