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QUEBEC CITY, Quebec, Dec 23, 2014 - (ACN Newswire) - ROI Land Investments Ltd. (OTCQB: ROII) ("ROI" or the "Company"), a diversified real estate land development investment company, announces that it has acquired approximately 250,000 square feet of prime residential land development to build over 300 apartment units in Kitimat and Terrace, British Columbia, Canada. The estimated market value of these acquisitions is of CDN $10,000,000. Land development and all necessary permits have been approved for the development of these lands and construction is expected to commence shortly. Development for this construction may be found on our Company's latest website: www.roilandinvesments.com These acquisitions represent ROI's commitment and mission to become a leading land developer within this region.
As previously mentioned on our November 12, 2014 press release, in Northern British Columbia, specifically in the towns of Kitimat and Terrace, there is an explosive demand for housing due to a macro economic development derived from the construction of one of Canada's largest pipelines for the exportation of Liquefied Natural Gas ("LNG") as well as terminals and other points of distribution. The LNG Projects are estimated to be some of the largest private investment developments in the history of British Columbia and Canada.
In a Vancouver Sun Article posted on November 8, 2014, it was reported that construction of the LNG Canada Project (Kitimat) may cost as much as CAD$40 billion, will create thousands of new jobs and could generate CAD$39 billion in tax revenue over its lifespan. The recent environmental certificate application of LNG Canada joint venture that includes Shell Canada Energy (TSX: SHC), PetroChina, Korea Gas Corp. and Mitsubishi Corp indicates that that project is expected to create 7,500 new jobs and generate about CAD$94 million per year in municipal and regional taxes during construction and about CAD$15 million per year in municipal and regional taxes during operations.
According to the British Columbia government website, there are three other major LNG projects proposed in Kitimat, including the Chevron (NYSE: CVX) and Apache LNG Kitimat project, which is to be considered the most advanced LNG project in British Columbia http://www.chevron.ca/our-businesses/kitimat-lng
The Northern British Columbia housing markets were among the first markets in Canada to rebound based on a positive long-term outlook on mining, energy and infrastructure investments especially related to major project announcements such as the LNG Projects. The housing market in Northern British Columbia is forecasted to shift higher through 2016. Increased activity will reflect employment, population and income gains geared to the commencement and expansion of major commodity-based projects across the north, including LNG terminals and port expansions in the northwest, mining in the interior and continued activity in the oil and gas fields in the northeast. Because the housing market was not overbuilt during the recession, there is a limited inventory of housing compared to demand.
ROI President Mr. Philippe Germain stated: "These latest developments in the towns of Kitimat and Terrace B.C. represent months of hard work and careful due-diligence together with our strategic partners of Coast to Coast Holdings, Inc. Our partners have been on the front lines conducting significant work in anticipation of this major and historical macro economic development in the province of British Columbia and Canada. We are very pleased with our investment and are confident that it should represent a positive impact to our bottom line. We are especially excited to pursue opportunities in Northern British Columbia where we envision significant demand and growth of the housing market. Moreover, we continue the evaluation additional target acquisitions in the area."
About ROI Land Investments Ltd.
ROI Land Investments Ltd. ("ROI") is a Real Estate Investment Company specializing in Land Development. ROI's business model consists of acquiring attractive land developments free of zoning restrictions, obtaining the necessary development permits, outsourcing the development of the infrastructure and profiting from the sale of the subdivided land units to known large regional developers.
SAFE HARBOR AND INFORMATIONAL STATEMENT
This press release may contain forward-looking information within the meaning of Section 21E of the Security Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statement of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial conditions or results of operations; and (iii) the company's growth strategy and operating strategy.
The words "may", "would", "will", "expect", "estimate", "anticipate", "believe", "intend", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not a guarantee of future of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements, as a result of various factors including the risk disclosed in the company's statements and reports filed with the SEC. The Company claims the safe harbor provided by Section 21E(c) of the Exchange Act for all forward-looking statements.
For more information please visit our website: www.ROILandInvestments.com
CONTACT:
Philippe Germain, President
T: +1-514-667-9470
M: +1-418-264-7134
Email: Pgermain@ROILandInvestments.com
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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ROI Land Investments LTD via Globenewswire
Topic: Press release summary
Source: ROI Land Investments Ltd.
https://www.acnnewswire.com
From the Asia Corporate News Network
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