SAN DIEGO, CALIFORNIA, Oct. 08, 2024 (GLOBE NEWSWIRE) — International Land Alliance, Inc. (OTCQB:ILAL), (“ILAL” or the “Company”), an international land investment and development firm, today reported the engagement of a Las Vegas-based company to manage ILAL’s newly-formed construction division.
The Company has developed 1,200 homesites, sold over 1,000 homesites and built over 100 homes and a boutique hotel at its Rancho Costa Verde community. With an average construction budget per home of $250,000, this new team will be overseeing potential construction revenue of $275,000,000 for the remaining 1,000 homesites already sold.
As previously announced, the Company opened up sales at its Oasis Park Resort last quarter, located just 8KM south of Rancho Costa Verde in San Felipe, Baja California. The construction division will also manage the development of the 500 homesites at Oasis with total potential construction revenue of roughly $125,000,000.
The principal of the team has over 30 years of experience in this area and is a property owner with a residence at Rancho Costa Verde. Primary directives include allocating jobs to subcontractors, construction project management, quality control and communication with owners.
Frank Ingrande, President of ILAL, commented: “To date, the Company has referred clients to qualified local builders at its Rancho Costa Verde development. Being the general contractor and having a construction division will now allow us to efficiently scale up home construction volume and increase profit margins.”
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
