SAN DIEGO, CA, June 09, 2022 (GLOBE NEWSWIRE) — The International Land Alliance, Inc. (OTCQB: ILAL), (“ILA” or “the Company”), an international land investment and development firm, today addressed a letter to shareholders from its Chairman, Frank Engrand.
Dear Shareholders,
Thank you for your continued support and loyalty. It is our personal commitment to engage our shareholders through clear and consistent communications and to provide timely updates. We would like to highlight our recent achievements and strategic roadmap. Over the past year, we’ve achieved several strong milestones described below.
As President of the International Land Alliance, to which I was appointed along with the company’s investment in Rancho Costa Verde in May 2021, I would like to provide additional details in the development and sales process to better understand these accomplishments, the strategic roadmap, and revenue recognition, as well as the 2021 Annual Report , as filed with the SEC on Form 10-K, and three months ending March 31, 2022, as filed with the SEC on Form 10-Q.
From a high standard, ILA’s primary mission is to embrace technology to bring sustainable residential developments to Northern Baja California.
- Clarify 2021 goals/achievements and sales models
- Capital raised for projects and start development to start sales
- The development work included the construction of roads, entrances, clubs and model houses and the locating of properties for sale
- The Plaza in Baja Mar was due to be completed first to the point where sales could begin in 2022. The Valle Divino and Oasis projects are due to follow suit in the second quarter (grand opening scheduled for June 11, 2022) and fourth quarter of 2022 Straight.
- The sales model of the Plaza at Baja Mar and Valle Divino is as follows:
- Customers choose their model and property location
- to implement Reservations / Execution The following purchase/construction agreements
- Initial payments are collected
- start building the house
- Collect additional payments with associated construction milestones
- Completed homes are delivered to customers simultaneously with final payments being collected
- The sales model for Rancho Costa Verde and Oasis Park is as follows
- Purchase agreements for home sites are executed and paid by customers
- Custom homes are built when buyers decide to do so
- Initial construction payments are collected
- start building the house
- Collect additional payments with associated construction milestones
- Completed homes are delivered to customers simultaneously with final payments being collected
As of today, Rancho Costa Verde has sold over 900 homes and completed 50 of the community’s total 1,200 planned homes, with 26 homes currently under construction and over 30 new homes in the planning stage. Buying demand in the property is increasing, both in terms of lot sales and in terms of homeowners building and moving, while we have significantly reduced our advertising and marketing expenditures. We even have a gorgeous boutique hotel on site where we give our guests a preview of luxury Baja California living. I believe Rancho Costa Verde is a first of its kind, and I am proud to see so many people now connecting to the community home, and I believe the lessons learned from this process will be invaluable to developments across the ILA portfolio.
Please visit: www.ranchocostaverde.com
Allow me to provide some progress updates for each of our current projects.
In the community of Plaza Bajamar, located within the world-famous Bajamar Ocean Front Hotel and Golf Resort, we recently held our first open house in a completed Merlot model house. Bajamar Oceanfront Golf Resort is a premier planned, guarded, and gated golf and wine community located 45 minutes south of the San Diego-Tijuana border along the scenic drive to Ensenada on the Pacific Ocean. Phase one will include 22 Merlot homes of 1,150 square feet, containing two bedrooms and two bathrooms. The home includes two basic bedroom suites – one on the first floor and one on the top floor, plus views of the coastal drive and ocean from the rooftop balcony. Merlot Villas will come with the option to install solar energy packages, as they were built with truly sustainable construction in mind. Planned amenities include a swimming pool, fitness and wellness center, and office space. The company accepted a $5,000 deposit for five Merlot villas, followed by a 20% down payment within 30 days and the balance paid over construction phases to completion. Based on strong demand, the company raised prices from US$199,000 to US$239,000. With a starting price of $239,000, this represents approximately $20 million in total sales opportunity for an 80-unit project.
Please visit: https://ila.company/plaza-at-bajamar/
At Valle Divino, our eco-friendly project located directly across the road from Plaza Bajamar in Ensenada, we have completed the construction of the clubhouse, wine tasting room and sales office and have begun construction of the first two modular homes. We anticipate our grand opening will be in June 2022 and we will start tours at the site. Prices for Valle Divino condominiums start at $49,000 and 1BR/1BA solar powered homes start at $99,000 with 2BR/2BA homes starting at $119,000. The first phase of the development includes 187 homes. During 2021, we had 14 presales—revenue is expected to be recognized in the third quarter of 2022. At an average of $110,000 per completed home, this represents more than $70,000,000 in total sales opportunity for a 650 home project.
Please visit: https://ila.company/valle-divino-resort/
At the Oasis Park Resort, located just 8 kilometers south of Rancho Costa Verde, we have already sold 75 of the 1,344 planned residential plots in the community to our primary stakeholders. We have resumed construction of Phase 1 at Oasis Park and have so far completed the entrance structure, initial phases of the two-mile main road from the Highway to the Sea of Curtis, completion of the design of the early phases of the masterplan, and initial beach grading. We expect to complete the finishes on the entrance, move ahead with the clubhouse and build model homes in the second and third quarters of this year and begin sales at the beginning of the fourth quarter. This represents over $30,000,000 in total potential sales, followed by over $75,000,000 in total potential construction revenue. We anticipate a grand reopening in October 2022 and will begin tours at the site.
Please visit: https://ila.company/oasis-park-resort/
We recently resumed hosting curated events on our 8,000 square foot event venue on our Emerald Grove project in Southern California, where our guests enjoy 360-degree, unobstructed views of the Temecula wine country. In 2021, we realized the sale of a vacant 20-acre plot of property for approximately $630,000—an excellent return on investment for a quarter of the 80-acre property that ILA originally purchased for $1.1 million. We are now dividing the remaining 40 vacant acres. Average prices for plots of 5 acres in the surrounding area are currently $250,000, providing a profitable exit opportunity and additional income as we continue to increase sales and marketing of our Baja California projects and core businesses.
We are entering 2022 in a strong position, as we strengthened our balance sheet by successfully raising $2 million, which we used in construction, sales and marketing — essentially, moving each of our development projects to our grand opening, site tours and sales.
ILA is uniquely positioned to oversee an unparalleled portfolio of properties – luxury self-contained homes at a very attractive price. We have the resources, experience, and leadership to realize this vision and ultimately create sustainable value for all of our stakeholders, and I look forward to providing updates as we implement our strategy.
sincerely,
Frank Angrand
president
About International Land Alliance, Inc:
International Land Alliance, Inc. (OTCQB: ILAL) is an international land investment and development company headquartered in San Diego, California. As its core mission, the company has embraced technology for sustainable and socially responsible solutions, as well as using proptech applications and advanced construction technology to achieve these goals. The company is focused on acquiring attractive raw land primarily in northern Baja California, often a short drive from southern California. The company serves its shareholders by devoting a great deal of time and resources to researching the best available locations and obtaining the necessary development permits to build a compelling portfolio of properties, which provide a variety 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 Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements may include descriptions of our plans and objectives for future operations, and assumptions that Underpinning these plans and objectives, and other forward-looking terms such as “may,” “expect,” “believe,” “expect,” “intend,” “project,” or similar terms are variations of these terms or are negative of these terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements contained herein. This information is based on various assumptions and expectations from, our management that were reasonable when made but may prove incorrect. All such assumptions are inherently subject to economic and competitive conditions, significant returns and contingencies beyond our control, and to assumptions regarding future business decisions that are subject to change. Accordingly, there can be no guarantee that actual results will meet expectations and actual results may differ (possibly materially) from some of the results projected herein.
Call:
International Land Alliance, Inc.
Jason Senstein
E-mail: [email protected]
Phone: (877) 661-4811
