SAN DIEGO, CALIFORNIA, July 29, 2024 (GLOBE NEWSWIRE) -- International Land Alliance, Inc. (OTCQB:ILAL), (“ILAL” or the “Company”), an international land investment and development firm, today announced the approval of design, renderings and final site location for its planned condotel at its Oasis Park Resort, branded “Cabo Oasis Resort and Spa”. The Company plans to build this 72-room condotel on the beach fronting an existing natural lagoon in several phases and will serve as amenities for the Company’s property owners at both Oasis Park and Rancho Costa Verde. This Sante Fe style design will be a scaled-up version of the existing boutique hotel at Rancho Costa Verde.
A condotel is a condominium-style complex that looks, feels and functions like a hotel. Each unit is individually owned and the investor retains all ownership and rights to live in, or rent out, the condo as they desire. Condotels are attractive to investors entering the vacation market and are currently trending as a smart and hassle-free investment option to grow real estate portfolios and earn passive income. Condotels are not subject to the same constricting limitations and laws that apply to residential short-term rentals, making them an excellent (and legal) solution for the vacation rental industry.
Frank Ingrande, President and CEO of ILAL, noted: “This new condotel will not only form the heart of Oasis Park, the Company’s newest master planned community, but will provide recurring revenue through management fees, in addition to land sales and construction. Cabo Oasis will feature exceptionally designed residences by architects and an array of amenities. Located just steps from the Sea of Cortez, this new resort will capture the vibrancy of the community, creating unmatched experiences immersing guests into the essence of San Felipe and setting a new standard of excellence for local and out-of-town guests alike.”
Mr. Ingrande concluded, “In discussions with the Mayor of San Felipe and tourism offices, we believe this resort will be a catalyst to open up additional airline carriers to bring commercial flights to the San Felipe International Airport, located just 30 minutes north of both Rancho Costa Verde and Oasis Park Resort.”
For more information, please visit: www.cabooasis.com
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.
CONTACT:
Jason Sunstein, CFO
Jason@ila.company
