Topline Revenues exceed $785,000
SAN DIEGO, CALIFORNIA, Aug. 08, 2023 (GLOBE NEWSWIRE) — International Land Alliance, Inc. (OTCQB:ILAL), (“ILAL” or the “Company”), an international land investment and development firm, today reported sales at Rancho Costa Verde for this week’s tour of $787,000, representing $287,000 homesite sales and $500,000 new construction.
Frank Ingrande, President of ILAL, noted: “The Company is seeing higher than expected demand at a time of year where sales in the San Felipe corridor are typically slower. This is of particular significance as we prepare to add Oasis Park to our sales and marketing product offering.”
The Company further announced that is starting Phase II at its Oasis Park Resort, which will include clubhouse, beach club and model home construction to facilitate onsite tours and sales. This also includes construction on pre-sold homesites.
As previously stated, the Company completed 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. This development 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 included a two-mile main road from the highway to the Sea of Cortez as well as grading of the beach and marina. 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.
Total Remaining Inventory:
Rancho Costa Verde
200 homesites for estimated gross sales of $6M; and construction services for 900 homes for estimated gross sales of $180M.
Oasis Park Resort
1,269 homesites for estimated gross sales of $30M; and construction services for 1,344 homes for estimated gross sales of $75M.
75 villas for gross estimated sales of $20M.
636 homesites for gross estimated sales of $22M; and construction services for 650 homes for gross estimated sales of $70M.
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.
Jason Sunstein, CFO
Toll Free: (877) 661-4811