International Land Alliance Announces First Home Construction at Oasis Park
Rhea-AI Summary
International Land Alliance (OTCQB:ILAL) has announced the first construction contract at its Oasis Park Resort in San Felipe, Baja California. The resort, opened for sales last quarter, features 500 homesites with a gross lot sales potential of over $15,000,000 and a gross potential construction revenue of over $125,000,000.
ILAL's President, Frank Ingrande, highlighted this milestone as being a full quarter ahead of their internal schedule. The company plans to simultaneously break ground on a 72-room condotel at Oasis Park Resort, branded as "Cabo Oasis Resort and Spa". This development will serve as amenities for property owners at both Oasis Park and Rancho Costa Verde.
The company's strategy builds on its success at Rancho Costa Verde, where it developed 1,200 homesites, sold over 1,000, and built over 100 homes and a boutique hotel. The remaining 1,000 homesites at Rancho Costa Verde represent a potential construction revenue of $275,000,000.
Positive
- First construction contract secured at Oasis Park Resort
- Oasis Park Resort has 500 homesites with $15,000,000 gross lot sales potential
- Potential construction revenue of $125,000,000 at Oasis Park Resort
- Project is a full quarter ahead of internal schedule
- Plans to build a 72-room condotel at Oasis Park Resort
- Successful track record at Rancho Costa Verde with 1,000+ homesites sold
- $275,000,000 potential construction revenue from remaining Rancho Costa Verde homesites
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, ILAL gained 21.71%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
SAN DIEGO, CALIFORNIA, Oct. 14, 2024 (GLOBE NEWSWIRE) -- International Land Alliance, Inc. (OTCQB:ILAL), (“ILAL” or the “Company”), an international land investment and development firm, today reported the first construction contract at its Oasis Park Resort.
The Company opened up sales at its Oasis Park Resort last quarter, a master planned community located just 8KM south of Rancho Costa Verde in San Felipe, Baja California. With 500 homesites, this represents over
Frank Ingrande, President of ILAL, commented: “The execution and momentum we are seeing at Oasis is a direct result of the strategic acquisition of Rancho Costa Verde, where we developed 1,200 homesites, sold over 1,000 and built over 100 homes and a boutique hotel. Total potential construction revenue of
The Company plans to break ground simultaneously on the planned condotel at its Oasis Park Resort, branded “Cabo Oasis Resort and Spa”. The Company plans to build this 72-room condotel on the beach fronting an existing natural lagoon in several phases and will serve as amenities for the Company’s property owners at both Oasis Park and Rancho Costa Verde. This Sante Fe style design will be a scaled-up version of the existing boutique hotel at Rancho Costa Verde.
About International Land Alliance, Inc.:
International Land Alliance, Inc. (OTCQB: ILAL) is an international land investment and development firm based in San Diego, California. As its’ core mission, the Company has embraced technology for sustainable and socially responsible solutions, in addition to using proptech and construction tech advanced applications to meet these goals. The Company is focused on acquiring attractive raw land primarily in Northern Baja California, often within driving distance from Southern California. The Company serves its shareholders by devoting considerable time and resources to seeking out the finest sites available and obtaining the necessary development permits to build a compelling portfolio of properties, which provide a diversity of investment and living options. Please visit: www.ila.company.
Safe Harbor Statement
The press release may include certain statements that are not descriptions of historical facts but are forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section21E of the Securities Exchange Act of 1934. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, and other forward-looking terminology such as "may," "expects," "believes," "anticipates," "intends," "projects,” or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectations and actual results may vary (perhaps materially) from certain of the results anticipated herein.
CONTACT:
Jason Sunstein, CFO
Jason@ila.company
FAQ
What is the gross lot sales potential of Oasis Park Resort for ILAL (OTCQB:ILAL)?
How many rooms will the planned condotel at ILAL's (OTCQB:ILAL) Oasis Park Resort have?
What is the potential construction revenue for ILAL (OTCQB:ILAL) from Oasis Park Resort?
How many homesites has ILAL (OTCQB:ILAL) sold at Rancho Costa Verde?
