SAN DIEGO, CALIFORNIA, April 30, 2021 (GLOBE NEWSWIRE) -- International Land Alliance, Inc. (OTCQB: ILAL), (“ILA” or the “Company”), an international land investment and development firm, has commenced the planned expansion of its vineyard at Valle Divino, an eco-friendly development in Ensenada, Baja California, to a total of 2 acres with 14 grape varieties.
The expansion is moving forward after successful results from two test vineyards planted in anticipation of the eco-friendly community's completion. The site was approved for additional planting after location, soil nutrients, drainage, and other criteria were analyzed. Upon completion, the vineyard will consist of Malbec, Cabernet Sauvignon, Merlot, Tempranillo, Syrah, Mourvèdre, Petit Verdot, Viognier, Nebbiolo, Pino Noir and Zinfandel grape varieties.
“We continue to make significant progress with the planning, development, construction and marketing of the Valle Divino project,” said Roberto Valdes, President & Chief Executive Officer of ILAL. “This site is uniquely situated to attract customers from the Southern California region, where home prices continue to break monthly median price records. In March, median prices grew between 10% to 18% in Southern California counties to between $430,000 and $835,000. In contrast, 50 miles south of San Diego at our Valle Divino development, residential lot prices start at $49,000 and completed homes start at $89,000. This value to home buyers, combined with new eco-friendly construction features and technology like self-contained solar, is driving strong interest at Valle Divino and our other properties in the region.”
Valle Divino Resort is part of a master planned residential community with 1,250 acres of fantastic topography, supporting resort and residential facilities with views toward the mountains and sea. ILA broke ground on the Valle Divino development in July 2020, and completed its first stage of construction in January 2021. The community will ultimately feature 650 homesites overlooking the internationally renowned Bajamar Ocean Front Hotel and Golf Resort, as well as the Pacific Ocean. Valle Divino sits on the western edge of the Guadalupe Valley, Baja’s premier wine region with over 175 wineries.
ILA has also recently completed additional survey and engineering, as well as site preparation infrastructure for model homes in Phase I (184 homesites).
In Southern California, housing prices are rising in all corners of the region, according to March 2021 data released from real estate news and data firm DataQuick Information Systems:
- In Los Angeles County, the median home price rose 17.2% to $750,000, while sales climbed 33.9%.
- In Orange County, the median home price rose 10.6% to $835,000, while sales climbed 38.5%.
- In Riverside County, the median home price rose 17.9% to $476,750, while sales climbed 37.5%.
- In San Bernardino County, the median home price rose 18.3% to $429,500, while sales climbed 29.3%.
- In San Diego County, the median home price rose 15.3% to $680,000, while sales climbed 22.4%.
- In Ventura County, the median home price rose 12.5% to $658,000, while sales climbed 24.2%.
To speak to a sales representative and make an appointment to tour the community, contact Analo Valdes at sales@ila.company or (858) 900-8056 or visit https://ila.company/valle-divino-resort/.
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.
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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 of 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 expectation and actual results may vary (perhaps materially) from certain of the results anticipated herein.
Investor Relations Contact:
Brooks Hamilton
Senior Vice President
MZ Group – MZ North America
(949) 546-6326
ILAL@mzgroup.us
www.mzgroup.us
International Land Alliance
Jason Sunstein, Vice President
Direct: (858) 692-2677
Jason@ila.company