The 497-acre master planned community includes 1,344 lots representing over $100M in potential gross lot sales and construction revenue
Onsite sales and tours to begin in Q1 2023
SAN DIEGO, CALIFORNIA, Dec. 15, 2022 (GLOBE NEWSWIRE) -- International Land Alliance, Inc. (OTCQB:ILAL), (“ILAL” or the “Company”), an international land investment and development firm, is pleased to announce the completion of Phase I of construction at its Oasis Park Resort, a 497-acre master planned community, located approximately eight kilometers south of the Company’s Rancho Costa Verde development, that offers breathtaking 180-degree sea and mountain views from every home site. ILAL has already pre-sold 75 of the 1,344 planned residential lots at Oasis Park Resort.
The completed Phase I development at Oasis Park Resort includes a two-mile main road from the highway to the Sea of Cortez as well as grading of the beach and marina. Phase II development is expected to commence in January 2023 and will include clubhouse and model home construction to facilitate onsite tours and sales. With home prices starting at $99,000, the Company’s Oasis Park Resort could ultimately generate over $30 million in gross lot sales and an additional $75 million in gross construction revenue. Home construction on pre-sold lots is expected to begin in Q1 2023.
Frank Ingrande, President of ILAL, commented, “As announced earlier this week, we are seeing sales return to pre-COVID levels at our communities. With a boutique hotel, over 1,000 lot sales (at an average of $31,000 per lot) and nearly 100 homes built (at an average of $250,000 per home) to date at our 1,100-acre Rancho Costa Verde development, the timing to add Oasis and its unique natural amenities to our active portfolio could not be better. With zero debt on this property and the added boost from our planned mortgage division going into 2023, we expect sales from Oasis to have a significant impact on our operations in 2023 and beyond as we ramp sales and marketing efforts.”
Please visit: https://ila.company/oasis-park-resort/
For more information about the Company, please visit RedChip’s ILAL page at https://ilalinfo.com/.
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.
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