With New Finance Division, ILA President Also Announces 50% Growth Projection.
SAN DIEGO, CALIFORNIA, Sept. 29, 2022 (GLOBE NEWSWIRE) — International Land Alliance, Inc. (OTCQB: ILAL), On Sunday, September 25, 2022, a reputable international land investment and development (“ILA” or the “Company”) announced another successful open house at its Rancho Costa Verde (“RCV”) development. The RCV team accepted six new contracts and sold 10 residential lots for gross sales of $400,000, for a total of more than $750,000 in gross construction revenue.
According to ILA president Frank Ingrande, sales are above expectations despite difficult market conditions in the United States. More significantly, our on-site closing ratios have been greater than usual over the past few months. Since the summer months have historically been a little below average, this is very encouraging.
The Company continues to be aggressive with its sales and marketing strategies despite the lag in new home sales that are plaguing other builders across the continent. Ingrande sees an opportunity to capitalize in this down market by utilizing a “tried and true” promotional method.
“We host weekly dinner presentations throughout California to showcase our developments and see full attendance,” Ingrande added. “We follow presentations by bringing our potential buyers to San Felipe every other week and continually reach almost full capacity for each tour.”
RCV is a profitable developer 1,100-acre, 1,400-lot master planned community in Baja California, located roughly 8KM north of the Company’s, Oasis Park Resort, on the Sea of Cortez. For more information about this green off-grid community, please visit: www.ranchocostaverde.com
On the heels of the previously announced $5 million preferred stock offering, which will be utilized to form a mortgage division, Ingrande offered shareholders and potential investors projections as a result of the closing of this placement.
“To date, the Company’s sales have been completed primarily in cash, as traditional mortgage financing is not available to our U.S. buyers, which comprise over 90% of our purchasers,” Ingrande said. “With the ability to offer to finance, we should see gross sales increase by more than 50%. With a 30% down payment, this would generate over $7 million in construction sales.”
RCV has over 1,000 residential lots sold, and Ingrande noted the Company is seeing a massive backlog of demand for homesite owners to begin construction with the advent of the financing division.
About International Land Alliance, Inc.:
International Land Alliance, Inc. (OTCQB: ILAL) is an international land investment and development firm based in San Diego, California. The Company has adopted technology for ecologically and socially conscious solutions as part of its main goal, and it uses advanced applications of proptech and construction tech to achieve these aims. The Company’s main area of interest is Northern Baja California, which is frequently reachable by car from Southern California. The Company builds a compelling portfolio of properties that offers a variety of investment and living possibilities for its shareholders by investing a significant amount of time and resources in locating the best locations and securing the required construction licences. Please visit: www.ila.company.
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International Land Alliance, Inc.
Jason Sunstein, CFO
Phone: (877) 661-4811